Learn · Probability Theory with Actuarial Applications

Lecture 30 of 60Week 6

W6_L5_Review (Compound vs. Mixed Models)

Prof. Neelesh S. Upadhye · IIT Madras

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Probability Theory with Actuarial Applications, IIT Madras (at NPTEL)
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CC BY-NC-SA, as NPTEL states it. Non-commercial use only.
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All the lectures

  1. W1_L1_The Language of Risk Video
  2. W1_L2_The Art of Counting Combinatorics Video
  3. W1_L3_Updating Beliefs Conditional Probability Video
  4. W1_L4_Bayes' Theorem The Update Tool Video
  5. W1_L5_Independence The Free Pass Video
  6. W2_L1_From Events to Numbers (Discrete RVs & PMF) Video
  7. W2_L2_The Continuous World (Continuous RVs & PDF) Video
  8. W2_L3_The "Grand Unifier'' (Cumulative Distribution Function) Video
  9. W2_L4_The "Center of Gravity'' (Expected Value) Video
  10. W2_L5_Functions of an RV (The Actuarial Toolkit) Video
  11. W3_L1_The "Yes/No'' World (Bernoulli & Binomial) Video
  12. W3_L2_The "Claim Count'' Model (Poisson) Video
  13. W3_L3_The "Waiting Time'' Model (Exponential) Video
  14. W3_L4_The "Flexible'' Model (Gamma) Video
  15. W3_L5_The "Everywhere" Model (Normal Distribution) Video
  16. W4_L1_Joint Distributions (Discrete PMF) Video
  17. W4_L2_Joint Distributions (Continuous PDF) Video
  18. W4_L3_Independence & Conditional Distributions Video
  19. W4_L4_Covariance (Measuring Linear Relationship) Video
  20. W4_L5_Correlation & Variance of Sums Video
  21. W5_L1_The "1D'' Transformation (The CDF Method) Video
  22. W5_L2_The "1D'' Shortcut (Change of Variable) Video
  23. W5_L3_The "2D'' Transformation (The Jacobian Method) Video
  24. W5_L4_The "Aggregate Loss'' Transformation (Convolution) Video
  25. W5_L5_The "Extreme Loss'' (Order Statistics) Video
  26. W6_L1_Conditional Expectation Video
  27. W6_L2_The "Tower Property'' (Law of Total Expectation) Video
  28. W6_L3_The Law of Total Variance (Eve's Law) Video
  29. W6_L4_Conditioning Drills (Mixed Distributions) Video
  30. W6_L5_Review (Compound vs. Mixed Models) Video
  31. W7_L1_The "Magic Tool'' (Moment-Generating Function) Video
  32. W7_L2_The MGF "Lookup Table'' Video
  33. W7_L3_The "Payoff'' (MGF of Independent Sums) Video
  34. W7_L4_Advanced Tools (CGFs & Compound Sum MGF) Video
  35. W7_L5_Week 7 Review & Capstone Drill) Video
  36. W8_L1_The Problem of "Tails" (Why We Need Bounds) Video
  37. W8_L2_The "Better'' Bound (Chebyshev's Inequality) Video
  38. W8_L3_The Law of Large Numbers (LLN) Video
  39. W8_L4_Other Inequalities (One-Sided Chebyshev & Jensen's) Video
  40. W8_L5_Week 8 Review & Drills Video
  41. W9_L1_The Central Limit Theorem (CLT) Video
  42. W9_L2_CLT Drills (Aggregate Loss Problems) Video
  43. W9_L3_The Continuity Correction Video
  44. W9_L4_Capstone Drill (CLT for Aggregate Losses) Video
  45. W9_L5_The Approximation ``Decision Tree'' Video
  46. W10_L1_The "Language'' of Insurance Models Video
  47. W10_L2_Policy Feature 1 (Deductibles) Video
  48. W10_L3_Policy Feature 2 (Policy Limits) Video
  49. W10_L4_Capstone (Pricing a ``Policy Layer'') Video
  50. W10_L5_Review & Introduction to Stop-Loss Video
  51. W11_L1_The "Master Formula" for Expected Aggregate Loss Video
  52. W11_L2_The "Master Algorithm" for Var(S) Video
  53. W11_L3_Finding Severity Moments E[Y^2] and Var(Y) Video
  54. W11_L4_The "Master Algorithm'' Drill Video
  55. W11_L5_Week 11 Review & Capstone Drills Video
  56. W12_L1_''The Big Picture'' Review (Part 1: The Toolkit) Video
  57. W12_L2_''The Big Picture'' Review (Part 2: The Models) Video
  58. W12_L3_Mock Exam Review (Part 1: Q1--10) Video
  59. W12_L4_Mock Exam Review (Part 2: Q11--20) Video
  60. W12_L5_Mock Exam Review (Part 3: Q21--30) Video