Actuarial Science Research Papers/Topics

COMPARATIVE ANALYSIS OF TURN-AROUND TIME AMONG SELECTED SEAPORTS IN WEST AFRICAN SUB-REGION

Turnaround time of a vessel in a seaport exhibits the capability and ability of a port in providing efficient and effective services. Ship turnaround time is one of the most significant Port performance indicator. This is the total time, spent by the vessel in port, during a given call. It is the sum of waiting time, berthing time, service time (i.e., ship’s time at berth) and sailing delay. West African ports play a crucial role in trade and economy, as 95% of merchandise trade is handled ...

Deterministic mathematical model for fish harvesting

Abstract/Overview Differential equations have been used to create mathematical models of real world systems in which rates of change are involved, for example in the study of how population grows or shrinks. One of the earliest models by Thomas Malthus has been found to be unrealistic since it predicts that population will grow exponentially and without bound – a prospect that defies physical limitations. Verhulst in his logistic population model developed a generalized version of the M...

Mathematical modelling of HIV infection

Abstract/Overview We formulate a deterministic mathematical model for the HIV/AIDS.

Mathematical model for co-infection of HIV/AIDS and pneumonia with treatment

Abstract/Overview Pneumonia occurs commonly in HIV-infected patients. In this paper, we study a simple mathematical model for the co-infection of HIV/AIDS and Pneumonia. We establish that the model is well presented epidemiologically and mathematically. The disease-free equilibrium point is determined. We establish the basic reproduction number R0 for the model, which is a measure of the course of co-infection.

Optimal Allocation in Double Sampling for Stratification in the Presence of Nonresponse and Measurement Errors

Abstract/Overview The present study addresses the problem of minimum cost and precision in the estimation of the population mean in the presence of nonresponse and measurement errors. It is assumed that both the survey variable and the auxiliary variable suffer from nonresponse and measurement errors in the second phase sample. A ratio, exponential ratio-ratio type, and exponential product-ratio type estimators of the population mean are proposed using the information on a single auxiliar...

Volatility Estimation Using European-Logistic Brownian Motion with Jump Diffusion Process

Abstract/Overview Volatility is the measure of how we are uncertain about the future of stock or asset prices. Black-Scholes model formed the foundation of stock or asset pricing. However, some of its assumptions like constant volatility and interest among others are practically impossible to implement hence other option pricing models have been explored to help come up with a much reliable way of predicting the price trends of options. The measure of volatility and good forecasts of futu...

Lie Symmetry Analysis of Modified Diffusive Predator-prey Competition System of Equations

Abstract/Overview In this paper, a nonlinear fourth order evolution equation is investigated by the Lie symmetry analysis approach. All the geometric vector fields and the Lie groups of the evolution equation are obtained. Finally, the symmetry reduction and the exact solutions of the equation are obtained by means of power series method.

Formulating Black Scholes Equation Using a Jump Diffusion Heston’s Model

Abstract/Overview In modern financial mathematics, accurate values are obtained by taking into account a considerable number of more realistic assumptions in logistic Black Scholes equation. The aspects considered here are cost of transactions in trading, perfect illiquid markets and risks that occur from non – protected portfolio or large investments that have a lot of impact on price of the assets, volatility, the percentage drift and the life of the portfolio itself. In modern world ...

On Certain Spaces of Ideal Operators

Abstract We determine some important spaces of ideal operators and ideal characteristics. Special consideration is given to Frechet spaces, Spaces of finite rank operators and spaces of Hahn-Banach extension operators. The characteristics of ideals and related properties in these spaces as well as in some of their dual spaces are obtained.

Characterization of Topological Fuzzy Sets in Hausdorff Spaces

Abstract/Overview In this paper, we have characterized big data fuzzy sets and shown that topological data points form singleton fuzzy sets which are closed. Besides, fuzzy sets of topological data points are compact and have at least one closed point. We have also shown that the fuzzy set of all condensation points of a fuzzy Hausdorff space is infinite and the cardinality of a topological data fuzzy set is also infinite and arbitrarily distributed in fuzzy Hausdorff spaces.

SARS-CoV-2 Detection in Fecal Samples in Sym-asymptotic Patients with Typical Findings of COVID-19 on Ag-RDT and SARS-CoV-2 RT-PCR Tests

Abstract Coronavirus is a disease caused by a severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) which emerged as a global pandemic in 2019 from Wuhan, China. Since its emergence, it has caused immense suffering to human life, 6.27 million lives have been lost, movement curtailed and social dynamics disrupted. The golden standard for getting samples for SARS-CoV-2 detection is through oral- nasopharyngeal swab, this method of sample collection is invasive and uncomfortable, thus st...

Extensions of Lefkovitch Matrix for Modeling Invasive Cestrum Aurantiacum Population Dynamics

Abstract/Overview Modeling of invasive species using stage based matrix methods can be exploited to understand population dynamics of plants using stage based Leftkovitch matrix models. This study reviewed and extended the stage based matrix incorporating invasion variables of invasive Cestrum aurantiacum across different forest types, ecological zones and altitudes. The estimation of eigenvalues of the extended stage based Lefkovitch matrix and its corresponding right and left eigenvecto...

On the Effects of Motocycle Accidents and its Trends (A Case of Kenya)

Abstract/Overview This study analyzes recent data of accidents’ prevalence in Kenya and investigates whether there might be new trends in areas formerly not prone to accidents. Polynomials of order 6 are found best suited for accidents’ prevalence data. The graphs show that seasonal variations explain over 90% of prevalence in Central, Eastern, Nyanza, Rift-Valley and Western Provinces. The highest variation is in Nyanza with 98.54% of the prevalence rate explained by the seasonal var...

The Actuarial Conditions for the Valuation of Pension Liability to Become Zero Under Minimum Funding Standard Architecture

Abstract Pension  valuation  exercises  for  a  defined  benefit  scheme  requires  an  appraisal  of  both  the  schemes  assets  and  its  liabilities  in  different  circumstances.  The  valuations  are  required  to  comply  with  regulatory standards, most notably the minimum funding standard. The objectives of this study are: (i) to compute  the  estimate  of  minimum  funding  standard  of  pension  liability  (ii)  to  establish  the  actuari...

A Mathematical Technique of Computing Technical Provisions and Premiums in General Business Insurance Under the Influence of Chain-Ladder and Cape Cod Framework

ABSTRACT An insurance company promises its policyholders to pay out benefits if certain events occur, for example, events such as a car accident and health conditions. When this is happens, the insurance company has a liability to pay the claims by technical provisions or claim reserving. The calculation of claim reserving must be done carefully in such a way that it should not cause loss to the company. Two of the common methods to calculate technical provisions in non-life insurance are the...


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