Abstract
This chapter reviews the methods for analyzing loss frequency and severity data. Statistical analysis and the law of large numbers constitute the scientific basis for risk analysis and for the understanding of risk financing and insurance decisions.
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References
Suggestion for Additional Reading
Levin, Richard I. and David S. Rubin, Statistics for Management, Englewood Cliffs, NJ: Prentice Hall Inc, 5nd ed., 1991.
References
Cummins, J.D. and L.R. Freifelder, “A Comparative Analysis of Alternative Maximum Probable Yearly Aggregate Loss Estimators,” Journal of Risk and Insurance, vol. 45, 1978.
Cummins, J.D. and L.R. Freifelder, “Statistical Analysis in Risk Management,” Risk Management, from vol. 25, Sept. 1978 to vol. 26, April 1979.
Doherty, Neil A., Corporate Risk Management: A Financial Exposition, New York: McGraw-Hill Book Co., 1985.
Keeney, R.L. and H. Raiffa, Decisions with Multiple Objectives: Preferences and Value Tradeoffs, New York: J. Wiley & Sons, 1976.
Render, Barry and R.M. Stair, Quantitative Analysis for Management, Boston: Allyn and Bacon Inc., 3rd ed., 1988.
Shackle, G.L.S., Expectations in Economics, Cambridge, UK: Cambridge University Press, 1949.
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© 1998 Springer Science+Business Media New York
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Outreville, J.F. (1998). Risk Analysis Fundamentals. In: Theory and Practice of Insurance. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-6187-3_5
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DOI: https://doi.org/10.1007/978-1-4615-6187-3_5
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-7836-5
Online ISBN: 978-1-4615-6187-3
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