Actuary

JAMILE OLLISON
MAY 16,2016

What do they do?

Actuaries analyze the financial costs of risk and uncertainty.

They use mathematics, statistics, and financial theory to assess

the risk that an event will occur.

They also help businesses and clients develop policies that

minimize the cost of that risk.

Overview of the Field

Actuaries need a strong foundation in mathematics, statistics,

and general business.

Coursework in computer science, writing, and public speaking are

also helpful.

Employment of actuaries is projected to grow 18 percent from

2014 to 2024, much faster than the average for all occupations.

Actuaries can make from about $96,700 all the way to about
$250,000 depending on how long you worked and what was their
work experience.

How is Statistics used in Actuary?

Statistics is extremely correlated with statistics.

It is so heavily correlated that they recommend taking AP

Statistics and AP Calculus.

Actuaries use it to try and calculate when your going die, how
your business is going to go, or how your is going to be in the
future.

They do this by looking at various variables to determine those

factors

Analyzing the Problem

In life actuary, they analyze when you are going to die.

I analyze this problem by finding a graph of a recent list of

probabilities of the chance of you dying by age and by gender.

When looking at the data you see that females start off
increasingly high in the number of lives and the life expectancy.

It then starts to even out when it gets to about 90 years of age

the life expectancy and the number of lives start to even out.

Data Table Set

Graphs

Sources
https://www.ssa.gov/oact/STATS/table4c6.html
http://www.careercornerstone.org/fields.htm
http://www.beanactuary.org/