actuarial science
Word Rarity
Rare
Frequency: 2.79 in modern English
22
Scrabble Score
16
Letters
6
Syllables
10
Unique Chars
Meaning
noun
The discipline within applied mathematics dealing with risk assessment and the modelling of uncertainty; the rigorous application of mathematical and statistical methods to assess risk, in industries including insurance and finance.
Uncountable
Example Sentences
- "In actuarial science alone the theory^([of generalized linear models]) has been used to model problems dealing with premium rating, mortality, multiple state models and claims reserving."
- "The use of Bayesian concepts and techniques in actuarial science dates back to Whitney (1918) who laid the foundations for what is now called empirical Bayes credibility."
- "This book aims to provide a broad introduction to computational aspects of actuarial science in the R environment. We assume that the reader is either learning or is familiar with actuarial science."
Usage
Frequently Paired Words
Synonyms
actuarial mathemetics