Stochastic modelling (insurance)
id:
stochastic-modelling-insurance-296-2013199
title:
Stochastic modelling (insurance)
text:
"Stochastic" means being or having a random variable. A stochastic model is a tool for estimating probability distributions of potential outcomes by allowing for random variation in one or more inputs over time. The random variation is usually based on fluctuations observed in historical data for a selected period using standard time-series techniques. Distributions of potential outcomes are derived from a large number of simulations which reflect the random variation in the input(s). Its applic
brand slug:
wiki
category slug:
encyclopedia
description:
Probability modelling tool
original url:
https://en.wikipedia.org/wiki/Stochastic_modelling_(insurance)
date created:
date modified:
2024-02-10T17:49:18Z
main entity:
{"identifier":"Q7617825","url":"https://www.wikidata.org/entity/Q7617825"}
image:
fields total:
13
integrity:
14