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In the lecture notes, we discussed uniform distribution of decrements (UDD) between inte- ger ages. It is important to understand that the UDD assumption is
In the lecture notes, we discussed uniform distribution of decrements (UDD) between inte- ger ages. It is important to understand that the UDD assumption is made with respect to the original full decre- ment model. In other words, we assumed uniform exits via all decrements simultaneously between integer ages: P=t-p, 0t 1, integer x, for all j = 1,2,..., m....
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