Hostname: page-component-cd9895bd7-gvvz8 Total loading time: 0 Render date: 2024-12-24T03:34:48.552Z Has data issue: false hasContentIssue false

On the Practical Application of the Doctrine of Chances, as it regards the Subdivision of Risks

Published online by Cambridge University Press:  18 August 2016

Extract

It is well known to those who have studied the theory of chances. that where the magnitude of a risk may be divided into an indefinite number of parts, it is possible, by this multiplication of smaller parts, to confine the probability of the occurrence of any given excess or deficiency in the result, above or below its mean value, within any given limits; and it is of great practical importance to ascertain both how far the subdivision ought to be carried with regard to insurances, and what are the inconveniences to be apprehended from the admission of occasional deviations from the general rule.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1855

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)