R Rachel D New member Jun 14, 2009 #1 ...health & car insuranc premiums? How do insurance companies use descriptive statistics and probability distributions to project health and car insurance premiums? In regards to age, why is there an inverse relationship between the two premiums?
...health & car insuranc premiums? How do insurance companies use descriptive statistics and probability distributions to project health and car insurance premiums? In regards to age, why is there an inverse relationship between the two premiums?
D David W New member Jun 14, 2009 #2 They use math majors known as actuaries, who get paid a lot of money to do that. As to age, younger drivers as a group tend to have more accidents, but also tend to be healthier; just the reverse for older people.
They use math majors known as actuaries, who get paid a lot of money to do that. As to age, younger drivers as a group tend to have more accidents, but also tend to be healthier; just the reverse for older people.
