Naslov (eng)

Lognormal and log-logistic distribution mixture analysis and application

Autor

Kočović, Jelena
Mitić, Vojislav V.
Koprivica, Marija
Rajić, Vesna
Lazović, Goran

Opis (eng)

Abstract: In this paper, we analyze a mixture of Lognormal and Log-Logistic distribution. We estimate the parameters of the introduced distribution by using the expectation-maximization (EM) algorithm. Various phenomena in the field of medicine and economy could be modeled by this mixture. In this paper, it is used to construct new mortality model for determining the unisex premium rates in life insurance. The application of the model is illustrated in the case of Serbian population and its advantages are presented in the context of life insurance premium calculation.

Jezik

engleski

Datum

2022

Licenca

© All rights reserved

Predmet

Keywords: Mixture; distribution; expectation-maximization algorithm; mortality model; unisex premium rate

Deo kolekcije (1)

o:28218

Ekonomski fakultet