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Actuarial Statistics
In actuarial science and demography, a life table (also called a mortality table or actuarial table) is a table which shows, for each age, what the probability is that a person of that age will die before their next birthday ("probability of death"). In other words, it represents the survivorship of people from a certain population. They can also be explained as a long-term mathematical way to measure a population's longevity. Tables have been created by demographers including Graunt, Reed and Merrell, Keyfitz, and Greville. There are two types of life tables used in actuarial science. The period life table represents mortality rates during a specific time period of a certain population. A cohort life table, often referred to as a generation life table, is used to represent the overall mortality rates of a certain population's entire lifetime. They must have had to be born during the same specific time interval. A cohort life table is more frequently used because it is able to ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excerpt From CDC 2003 Table 1
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Mortality Rate
Mortality rate, or death rate, is a measure of the number of deaths (in general, or due to a specific cause) in a particular population, scaled to the size of that population, per unit of time. Mortality rate is typically expressed in units of deaths per 1,000 individuals per year; thus, a mortality rate of 9.5 (out of 1,000) in a population of 1,000 would mean 9.5 deaths per year in that entire population, or 0.95% out of the total. It is distinct from " morbidity", which is either the prevalence or incidence of a disease, and also from the incidence rate (the number of newly appearing cases of the disease per unit of time). An important specific mortality rate measure is the crude death rate, which looks at mortality from all causes in a given time interval for a given population. , for instance, the CIA estimates that the crude death rate globally will be 7.7 deaths per 1,000 people in a population per year. In a generic form, mortality rates can be seen as calculated using ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decrement Table
Decrement tables, also called life table methods, are used to calculate the probability of certain events. Birth control Life table methods are often used to study birth control effectiveness. In this role, they are an alternative to the Pearl Index. As used in birth control studies, a decrement table calculates a separate effectiveness rate for each month of the study, as well as for a standard period of time (usually 12 months). Use of life table methods eliminates time-related biases (i.e. the most fertile couples getting pregnant and dropping out of the study early, and couples becoming more skilled at using the method as time goes on), and in this way is superior to the Pearl Index. Two kinds of decrement tables are used to evaluate birth control methods. Multiple-decrement (or competing) tables report net effectiveness rates. These are useful for comparing competing reasons for couples dropping out of a study. Single-decrement (or noncompeting) tables report gross effective ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Actuarial Present Value
The actuarial present value (APV) is the expected value of the present value of a contingent cash flow stream (i.e. a series of payments which may or may not be made). Actuarial present values are typically calculated for the benefit-payment or series of payments associated with life insurance and life annuities. The probability of a future payment is based on assumptions about the person's future mortality which is typically estimated using a life table. Life insurance Whole life insurance pays a pre-determined benefit either at or soon after the insured's death. The symbol ''(x)'' is used to denote "a life aged ''x''" where ''x'' is a non-random parameter that is assumed to be greater than zero. The actuarial present value of one unit of whole life insurance issued to ''(x)'' is denoted by the symbol \,A_x or \,\overline_x in actuarial notation. Let ''G>0'' (the "age at death") be the random variable that models the age at which an individual, such as ''(x)'', will die. And ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Age-adjusted Life Expectancy
Life expectancy is a statistical measure of the average time an organism is expected to live, based on the year of its birth, current age, and other demographic factors like sex. The most commonly used measure is life expectancy at birth (LEB), which can be defined in two ways. ''Cohort'' LEB is the mean length of life of a birth cohort (all individuals born in a given year) and can be computed only for cohorts born so long ago that all their members have died. ''Period'' LEB is the mean length of life of a hypothetical cohort assumed to be exposed, from birth through death, to the mortality rates observed at a given year. National LEB figures reported by national agencies and international organizations for human populations are estimates of ''period'' LEB. In the Bronze Age and the Iron Age, human LEB was 26 years; in 2010, world LEB was 67.2 years. In recent years, LEB in Eswatini (formerly Swaziland) is 49, while LEB in Japan is 83. The combination of high infant m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Force Of Mortality
In actuarial science, force of mortality represents the instantaneous rate of mortality at a certain age measured on an annualized basis. It is identical in concept to failure rate, also called hazard function, in reliability theory. Motivation and definition In a life table, we consider the probability of a person dying from age ''x'' to ''x'' + 1, called ''q''''x''. In the continuous case, we could also consider the conditional probability of a person who has attained age (''x'') dying between ages ''x'' and ''x'' + ''Δx'', which is :P_(\Delta x)=P(x |
Radix
In a positional numeral system, the radix or base is the number of unique digits, including the digit zero, used to represent numbers. For example, for the decimal/denary system (the most common system in use today) the radix (base number) is ten, because it uses the ten digits from 0 through 9. In any standard positional numeral system, a number is conventionally written as with ''x'' as the string of digits and ''y'' as its base, although for base ten the subscript is usually assumed (and omitted, together with the pair of parentheses), as it is the most common way to express value. For example, (the decimal system is implied in the latter) and represents the number one hundred, while (100)2 (in the binary system with base 2) represents the number four. Etymology ''Radix'' is a Latin word for "root". ''Root'' can be considered a synonym for ''base,'' in the arithmetical sense. In numeral systems In the system with radix 13, for example, a string of digits such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data From National Vital Statistics Report TPx
In the pursuit of knowledge, data (; ) is a collection of discrete values that convey information, describing quantity, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpreted. A datum is an individual value in a collection of data. Data is usually organized into structures such as tables that provide additional context and meaning, and which may themselves be used as data in larger structures. Data may be used as variables in a computational process. Data may represent abstract ideas or concrete measurements. Data is commonly used in scientific research, economics, and in virtually every other form of human organizational activity. Examples of data sets include price indices (such as consumer price index), unemployment rates, literacy rates, and census data. In this context, data represents the raw facts and figures which can be used in such a manner in order to capture the useful information out of it. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marital Status
Civil status, or marital status, are the distinct options that describe a person's relationship with a significant other. ''Married'', '' single'', ''divorced'', and '' widowed'' are examples of civil status. ''Civil status'' and ''marital status'' are terms used in forms, vital records, and other documents to ask or indicate whether a person is married or single. In the simplest contexts, no further distinction is made. A status of ''married'' means that a person was wed in a manner legally recognized by their jurisdiction. A person's specified civil status might also be ''married'' if they are in a civil union or common-law marriage. The civil status of a person who is legally separated is ''married''. Whether a cohabiting couple (such as in a domestic partnership) have a civil status of "married" depends on the circumstances and the jurisdiction. In addition to those who have never married, ''single'' status applies to people whose relationship with a significant othe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor Force
The workforce or labour force is a concept referring to the pool of human beings either in employment or in unemployment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, state, or country. Within a company, its value can be labelled as its "Workforce in Place". The workforce of a country includes both the employed and the unemployed (labour force). Formal and informal Formal labour is any sort of employment that is structured and paid in a formal way.Seager, Joni. 2008. The Penguin Atlas of Women in the World. 4th ed. New York: Penguin Books. Part 5 Unlike the informal sector of the economy, formal labour within a country contributes to that country's gross national product. Informal labour is labour that falls short of being a formal arrangement in law or in practice. It can be paid or unpaid and it is always unstructured and unregulated.Seager, Joni. 2008. The Penguin Atlas of Wome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disability
Disability is the experience of any condition that makes it more difficult for a person to do certain activities or have equitable access within a given society. Disabilities may be cognitive, developmental, intellectual, mental, physical, sensory, or a combination of multiple factors. Disabilities can be present from birth or can be acquired during a person's lifetime. Historically, disabilities have only been recognized based on a narrow set of criteria—however, disabilities are not binary and can be present in unique characteristics depending on the individual. A disability may be readily visible, or invisible in nature. The United Nations Convention on the Rights of Persons with Disabilities defines disability as: Disabilities have been perceived differently throughout history, through a variety of different theoretical lenses. There are two main models that attempt to explain disability in our society: the medical model and the social model. The medical model serves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
