Actuarial science began as the place where two branches of mathematics meet: compound interest and observed mortality statistics. Financial planning for the future is therefore rooted firmly in the past. John Webb takes us through some of the mathematics involved, introducing us to some of the colourful characters who led the way.
Are you going to be a good customer for your bank? This might not worry you, but it certainly worries your bank! Banks would like to be able to predict both who their most profitable clients are likely to be, and which potential clients are most likely to be unreliable or a poor risk.
"God does not play dice" Albert Einstein once said. Since then the undisputable successes of the quantum theory have convinced all but a handful of contemporary physicists that God does indeed play dice. The question some are now asking is why does God play dice?