Tables and formulae for the computation of life contingencies; with copious examples of annuity, assurance, and Friendly society calculations. Second issue, with an addendum - Brossura

Gray, Oliver Peter

Brossura

ISBN 10: 1236389336 ISBN 13: 9781236389336

Casa editrice: RareBooksClub.com, 2012

Riassunto

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1870 Excerpt: ...appellation to which reference has just been made. But the sense in which the term expectation is frequently received, and the manner in which the function it designates is spoken of, and even defined, by writers on life contingencies, receive no countenance from the nature or the mode of derivation of that function. 162. Of the prevalent misconceptions on this subject one is, that the " expectation" at a specified age, considered as a term of years, is more likely than any other term, to be the actual duration of that life; and another is, that it denotes a term of years which the life in question is as likely to survive as not. Neither of these notions is correct. The first would imply that the year in which a life is most likely to fail is that in which its "expectation" terminates. But the year in which this event is most likely to happen is obviously that succeeding the attainment of the age opposite which the mortality table shows the greatest number of deaths. Thus, by the Carlisle Table, after the 4th year, more deaths take place in the 75th year than in any other. In this year, therefore, a life of any age, from 4 to 74 inclusive, is, by this table, more likely to fail than in any other single year that can be named; while the actual expectations of but few of those intermediate ages will be found to terminate in their 75th year. 163. The second notion designates, not the "expectation," but the term, (called by French writers la vie probable?) during which the number of lives of the given age is reduced one half. This term does not usually differ much from the true "expectation," and on De Moivre's hypothesis, of a uniform distribution of the deaths, from amongst the number living at a given age, over the who...

Dettagli dell?edizione

• Editore: RareBooksClub.com
• Data di pubblicazione: 2012
• ISBN 10: 1236389336
• ISBN 13: 9781236389336
• Rilegatura: Copertina flessibile
• Lingua: Inglese
• Numero di pagine: 52