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Title | THE REINSURANCE ACTUARY - The Reinsurance |
Description | The Lomax pareto distribution in I work as an actuarial analyst at a reinsurance broker in London. And this is my |
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THE REINSURANCE ACTUARY Blog Project Euler Category Theory Disclaimer The Lomax pareto distribution in SciPy 17/3/2023 The Python library SciPy, contains a version of the Lomax distribution which it defines as: $$f(x,c) = \frac{c}{(a+x)^{(c+1)}}$$ Whereas, the ‘standard’ specification is [1]: $$f(x,c, \lambda) = \frac{c \lambda ^ c}{(a+x)^{(c+1)}}$$ Which is also the definition in the IFoA core reading [2]: So, how can we use the SciPy version of the Lomax to simulate the standard version, given we are missing the $ \lambda ^c$ term? Read More 0 Comments --> MLE of a Uniform Distribution 28/2/2023 I noticed something surprising about the Maximum Likelihood Estimator (MLE) for a uniform distribution yesterday. Suppose we’re given sample $X’ = {x_1, x_2, … x_n}$ from a uniform distribution $X$ with parameters $a,b$. Then the MLE estimator for $a = min(X’)$, and $b = max(X’)$. [1] All straight forward so far. However, examining the estimators, we can also say with probability = |
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