Actuarial Empire

Category Archives: Tips & Tricks

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Expected Cost for Franchise Deductible Formulas

01/31/13 - Lessons, Tips & Tricks

This theory post will cover how to derive the Expected Cost Per Loss and the Expected Cost Per Payment using a franchise deductible.

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Stats Review 1: A Proof of the MSE formula

11/20/12 - Lessons, Tips & Tricks

A theoretical derivation of $MSE_{\theta}(\hat{\theta}) = Var_\theta(\hat{\theta}) + Bias_\theta(\hat{\theta})^2$. This is background material and is only for those that are interested!