On the Automated Generation of Life Contingencies Problems and Solutions

Authors

  • Chris Groendyke Robert Morris University

DOI:

https://doi.org/10.47941/jar.2109

Keywords:

Life Contingencies, Life Tables, Automatic Problem Generation

Abstract

Purpose: The purpose of this project is to provide an open source solution to this problem that is customizable, efficient, and easy to use.

Methodology: We introduce an open-source software package named AutoSULT to address this problem. This package utilizes the computing abilities of R and the typesetting abilities of R Markdown, LaTeX, and other existing R packages.

Findings: Our software efficiently generates and typesets customized questions with step-by-step solutions for several types of problems that are commonly used in introductory life contingencies courses. We highlight some of the advantages of this tool and demonstrate its uses.

Unique contribution to theory, practice and policy: We believe that this software can serve as a valuable resource for both instructors and students of introductory life contingencies courses.

Downloads

Download data is not yet available.

Author Biography

Chris Groendyke, Robert Morris University

Professor, Department of Mathematics, School of Data Intelligence and Technology

References

Allaire, J., Xie, Y., Dervieux, C., McPherson, J., Luraschi, J., Ushey, K., Atkins, A., Wickham, H., Cheng, J., Chang, W., & Iannone, R. (2023). rmarkdown: dynamic documents for R. R Package Version 2.22, https://github.com/rstudio/rmarkdown

Bache, S., & Wickham, H. (2022). magrittr: a forward-pipe operator for R. R Package Version 2.0.3. https://CRAN.R-project.org/package=magrittr

Beauchemin, D., & Goulet, V. (2019). Actuarial symbols of life contingencies and financial mathematics. http://ctan.org/pkg/actuarialsymbol

Bowers, N. L., Gerber, H. U., Hickman, J. C., Jones, D. A., & Nesbitt, C. J. (1997). Actuarial Mathematics, (2nd ed.). Society of Actuaries.

Camilli, S. J., Duncan, I., & London, R. L. (2014). Models for Quantifying Risk, (6th ed). ACTEX Publishing.

Castellares, F., Patricio, S., & Lemonte, A. (2022). On the Gompertz-Makeham law: a useful mortality model to deal with human mortality. Brazilian Journal of Probability and Statistics. 36. 613-639. http://doi.org/10.1214/22-BJPS545

Cocovi-Solberg, D.J., & Miró, M. (2015). CocoSoft: educational software for automation in the analytical chemistry laboratory. Analytical and Bioanalytical Chemistry. 407, 6227–6233. https://doi.org/10.1007/s00216-015-8834-8

Combéfis S. (2022). Automated Code Assessment for Education: Review, Classification and Perspectives on Techniques and Tools. Software. 1(1):3-30. https://doi.org/10.3390/software1010002

Dickson, D. C., Hardy, M. R., & Waters, H. R. (2019). Actuarial Mathematics for Life Contingent risks. (3rd ed.). Cambridge University Press. https://doi.org/10.1017/9781108784184

Goulet, V. (2017). Actuarial angle symbol for life contingencies and financial mathematics. https://www.ctan.org/pkg/actuarialangle

Graunt, J. (1662). Natural and political observations made upon the bills of mortality.

Halley, E. (1693). An estimate of the degrees of the mortality of mankind, drawn from curious tables of the births and funerals at the city of Breslaw; with an attempt to ascertain the price of annuities upon lives. Philosophical Transactions.

Jones, D. (1843). On the Value of Annuities and Reversionary Payments: with Numerous Tables (Vol. 2). Baldwin and Cradock.

King, G. (1889). Institute of Actuaries' Text-book–Part II (with List of Errata). Journal of the Institute of Actuaries, 28(2), 160-166.

Kurdi, G., Leo, J., Parsia, B., Sattler, U., & Al-Emari, S. (2020). A systematic review of automatic question generation for educational purposes. International Journal of Artificial Intelligence in Education, 30, 121-204.

Layton, C., & Layton, E. (1899). Discussion and resolutions on a universal actuarial notation. Transactions of the Second International Actuarial Congress.

Louca, A. (2020). A proposal for universal actuarial notation [working paper]. Casualty Actuarial Society. https://www.casact.org/sites/default/files/2021-02/working-paper-louca-2020-07.pdf

Makeham, W. (1860). On the law of mortality and the construction of annuity tables. Journal of the Institute of Actuaries, 8(6), 301-310.

R Core Team (2023). R: A language and environment for statistical computing. R Foundation for Statistical Computing, Vienna, Austria. https://www.R-project.org.

Society of Actuaries (2024, June 26). Exams and Requirements. https://www.soa.org/education/exam-req/default/

Sommerfeldt, A. (2023). Customizing captions of floating environments. https://ctan.org/pkg/caption

Wickham, H., Hester, J., Chang, W., & Bryan, J. (2022). devtools: tools to make developing R packages easier. R Package Version 2.4.5, https://CRAN.R-project.org/package=devtools

Woolhouse, W. (1869). On an improved theory of annuities and assurances. Journal of the Institute of Actuaries and Assurance Magazine. 15(2), 95-125

Xie, Y. (2023). knitr: A general-purpose package for dynamic report generation in R. R Package Version 1.43. https://yihui.org/knitr/

Zhu, H. (2021). kableExtra: construct complex table with 'kable' and pipe syntax. R Package Version 1.3.4. https://CRAN.R-project.org/package=kableExtra

Downloads

Published

2024-07-17

How to Cite

Groendyke, C. (2024). On the Automated Generation of Life Contingencies Problems and Solutions. Journal of Actuarial Research, 2(2), 1–20. https://doi.org/10.47941/jar.2109

Issue

Section

Articles