ACTUARIAL ANALYSIS
\ˌakt͡ʃuːˈe͡əɹɪəl ɐnˈaləsˌɪs], \ˌaktʃuːˈeəɹɪəl ɐnˈaləsˌɪs], \ˌa_k_tʃ_uː_ˈeə_ɹ_ɪ__ə_l ɐ_n_ˈa_l_ə_s_ˌɪ_s]\
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The application of probability and statistical methods to calculate the risk of occurrence of any event, such as onset of illness, recurrent disease, hospitalization, disability, or death. It may include calculation of the anticipated money costs of such events and of the premiums necessary to provide for payment of such costs.
By DataStellar Co., Ltd
