We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 05 June 2012
Chapter Preview. Regression analysis is a statistical method that is widely used in many fields of study, with actuarial science being no exception. This chapter provides an introduction to the role of the normal distribution in regression, the use of logarithmic transformations in specifying regression relationships, and the sampling basis that is critical for inferring regression results to broad populations of interest.
What Is Regression Analysis?
Statistics is about data. As a discipline, it is about the collection, summarization, and analysis of data to make statements about the real world. When analysts collect data, they are really collecting information that is quantified, that is, transformed to a numerical scale. There are easy, well-understood rules for reducing the data, through either numerical or graphical summary measures. These summary measures can then be linked to a theoretical representation, or model, of the data. With a model that is calibrated by data, statements about the world can be made.
Statistical methods have had a major impact on several fields of study:
In the area of data collection, the careful design of sample surveys is crucial to market research groups and to the auditing procedures of accounting firms.
Experimental design is a subdiscipline devoted to data collection. The focus of experimental design is on constructing methods of data collection that will extract information in the most efficient way possible.
[…]
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
