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2018 Sep Q7ii

H

Hong Hong

Member
2018 Sep Q7 (ii)
Qn: Outline how simulation error can be reduced when a stochastic method is used.

The answer from Examiner's Report mentioned 2 methods - Low Discrepancy Points & Latin Hypercube - which I have totally no clue about. Google search does not offer much help and if I recall these methods are not in the Core Reading neither.

Appreciate if anyone can help me to have a brief understanding of these 2 methods. Links to any further materials or Core Reading reference (if it was mentioned but I missed out) are greatly appreciated too.

Thank you!
 
Hello Hong Hong,

Latin Hypercube and Low Discrepancy Points are both covered in section 6.1 of chapter 11 (Aggregate claims distribution models).

I hope this helps.

Thanks
Aman
ActEd Tutor
 
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