Lognormal and log-logistic distribution mixture analysis and application
Апстракт
In this paper, we analyze a mixture of Lognormal and Log-Logistic distribution. We estimate the parameters of the introduced distribution by using the expectation-maximization (EM) algorithm. Various phenomena in the field of medicine and economy could be modeled by this mixture. In this paper, it is used to construct new mortality model for determining the unisex premium rates in life insurance. The application of the model is illustrated in the case of Serbian population and its advantages are presented in the context of life insurance premium calculation.
Кључне речи:
unisex premium rate / mortality model / Mixture / expectation-maximization algorithm / distributionИзвор:
Modern Physics Letters B, 2022, 36, 05Издавач:
- World Scientific Publ Co Pte Ltd, Singapore
DOI: 10.1142/S0217984921505886
ISSN: 0217-9849
WoS: 000757108500002
Scopus: 2-s2.0-85122227845
Колекције
Институција/група
Mašinski fakultetTY - JOUR AU - Kocović, Jelena AU - Mitić, Vojislav V. AU - Koprivica, Marija AU - Rajić, Vesna AU - Lazović, Goran PY - 2022 UR - https://machinery.mas.bg.ac.rs/handle/123456789/3768 AB - In this paper, we analyze a mixture of Lognormal and Log-Logistic distribution. We estimate the parameters of the introduced distribution by using the expectation-maximization (EM) algorithm. Various phenomena in the field of medicine and economy could be modeled by this mixture. In this paper, it is used to construct new mortality model for determining the unisex premium rates in life insurance. The application of the model is illustrated in the case of Serbian population and its advantages are presented in the context of life insurance premium calculation. PB - World Scientific Publ Co Pte Ltd, Singapore T2 - Modern Physics Letters B T1 - Lognormal and log-logistic distribution mixture analysis and application IS - 05 VL - 36 DO - 10.1142/S0217984921505886 ER -
@article{ author = "Kocović, Jelena and Mitić, Vojislav V. and Koprivica, Marija and Rajić, Vesna and Lazović, Goran", year = "2022", abstract = "In this paper, we analyze a mixture of Lognormal and Log-Logistic distribution. We estimate the parameters of the introduced distribution by using the expectation-maximization (EM) algorithm. Various phenomena in the field of medicine and economy could be modeled by this mixture. In this paper, it is used to construct new mortality model for determining the unisex premium rates in life insurance. The application of the model is illustrated in the case of Serbian population and its advantages are presented in the context of life insurance premium calculation.", publisher = "World Scientific Publ Co Pte Ltd, Singapore", journal = "Modern Physics Letters B", title = "Lognormal and log-logistic distribution mixture analysis and application", number = "05", volume = "36", doi = "10.1142/S0217984921505886" }
Kocović, J., Mitić, V. V., Koprivica, M., Rajić, V.,& Lazović, G.. (2022). Lognormal and log-logistic distribution mixture analysis and application. in Modern Physics Letters B World Scientific Publ Co Pte Ltd, Singapore., 36(05). https://doi.org/10.1142/S0217984921505886
Kocović J, Mitić VV, Koprivica M, Rajić V, Lazović G. Lognormal and log-logistic distribution mixture analysis and application. in Modern Physics Letters B. 2022;36(05). doi:10.1142/S0217984921505886 .
Kocović, Jelena, Mitić, Vojislav V., Koprivica, Marija, Rajić, Vesna, Lazović, Goran, "Lognormal and log-logistic distribution mixture analysis and application" in Modern Physics Letters B, 36, no. 05 (2022), https://doi.org/10.1142/S0217984921505886 . .