Notations used in Actuarial Tables
- This topic is empty.
Viewing 1 post (of 1 total)
-
Posts
-
Arpit Surana
[font=Trebuchet MS,Helvetica,sans-serif]There are basically 4 notations –[/font] [font=Trebuchet MS,Helvetica,sans-serif]lx”>[/font] [/size] [font=Trebuchet MS,Helvetica,sans-serif]ππ₯”>[/font] [/size] [font=Trebuchet MS,Helvetica,sans-serif]qx”>[/font] [/size] [font=Trebuchet MS,Helvetica,sans-serif]px%;”>[/size] [font=Trebuchet MS,Helvetica,sans-serif]Now there are 4 relations that helps in understanding the tables-1.
3. ππ₯
ππ₯+1)/lx: It means the probability of survivingΒ is equal to the number of people alive in year x +1 divided by the number of people died in the year x4. px = 1-qx: It means that the probability of surviving is equal to 1 minus probability of death. In other words, the probability of surviving and probability of death equals 1
Collectively, ππ₯, ππ₯, ππ₯ and ππ₯ form what is called a βlife tableβ or βactuarial tableβ.Β Β
[/font]
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.