credibility$17524$ - translation to ελληνικό
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credibility$17524$ - translation to ελληνικό

Actuarial credibility; Credibility Theory

credibility      
n. αξιοπιστία
sold out         
  • George Carlin has been accused of being a sellout for appearing in commercials for MCI, a company he had previously criticized.
  • Metallica playing live at Illinois in 2004.
EXPRESSION FOR THE COMPROMISING OF A PERSON'S INTEGRITY IN EXCHANGE FOR PERSONAL GAIN
Sellout; Indie credibility; Sell out; Sell-out; Sold Out; Sold out; Selling Out; Indie cred; Indie Rock Cred; Indie Cred; Sellouts; Sell-outs; Sell outs; Selling-out
εξαντλημένα
make a decision         
  • Sample [[flowchart]] representing a decision process when confronted with a lamp that fails to light.
COGNITIVE PROCESS RESULTING IN CHOOSING A COURSE OF ACTION AMONG SEVERAL ALTERNATIVE POSSIBILITIES
Decision making process; Decision-making process; Decision process; Decision maker; Styles and methods of decision-making; Decision-maker; Decision-Making; Make a decision; Problem Analysis and Decision Making; Decision Making; Decision making styles; Decision making tool; Effective decision; Effective solution; Decision tool; Choice making; Decision making condition; Source credibility bias; Decision making; Making decisions; Neuroscience of decision making; Biased decision-making; Cognitive biases in decision-making; Neuroscience of decision-making; Biases in decision making
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Ορισμός

Credibleness
·noun The quality or state of being credible; worthiness of belief; credibility.

Βικιπαίδεια

Credibility theory

Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. It is employed to combine multiple estimates into a summary estimate that takes into account information on the accuracy of the initial estimates. For example, in group health insurance an insurer is interested in calculating the risk premium, R P {\displaystyle RP} , (i.e. the theoretical expected claims amount) for a particular employer in the coming year. The insurer will likely have an estimate of historical overall claims experience, x {\displaystyle x} , as well as a more specific estimate for the employer in question, y {\displaystyle y} . Assigning a credibility factor, z {\displaystyle z} , to the overall claims experience (and the reciprocal to employer experience) allows the insurer to get a more accurate estimate of the risk premium in the following manner:

The credibility factor is derived by calculating the maximum likelihood estimate which would minimise the error of estimate. Assuming the variance of x {\displaystyle x} and y {\displaystyle y} are known quantities taking on the values u {\displaystyle u} and v {\displaystyle v} respectively, it can be shown that z {\displaystyle z} should be equal to:

Therefore, the more uncertainty the estimate has, the lower is its credibility.