JM2C
CHRISTIAN
Actuary is basically a practicing statistician. Mathematicians, such as Edmond Halley, developed the life table as the basis for life insurance mathematics. In 1693 Halley published an article on life annuities, which featured an analysis of age-at-death on the basis of the Breslau statistics Caspar Neumann had been able to provide. This article allowed the British government to sell life annuities at an appropriate price based on the age of the purchaser.An Actuary would laugh his *** off at that theory, because Actuaries do have an understanding to how to calculate factors affecting human life expectancies.
But the most important fact is that were we do have data from the last 2,000 years it clearly shows that your calculations are horse pucky (to borrow a phrase). The rate of human population growth has accelerated in the past couple of centuries at a massive rate due to advances in agriculture, transport and medicine.
"Carrying Capacity" is a vital concept in any theory about human populations and it explains why today's population levels are completely different to the figures we have data for from history.
Halley's work strongly influenced the development of actuarial science [hello]. The construction of the life-table for Breslau, which followed more primitive work by John Graunt, is now seen as a major event in the history of demography.
Demography involves the statistical study of human populations. -Wiki