Application of Multi-Bilinear Binomial Regression Model to Modelling Heterogenous Mortality Value

• Author(s): Lawal Fatai Kolade ; Ehimony James Babatunde ; Olumi Timothy Toba ; Usman Momoh Sani ; Obafaiye Adegboyega Benedict
• Paper ID: 1707968
• Page: 940-948
• Published Date: 25-04-2025
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 8 Issue 10 April-2025

Abstract

A crucial component of mortality modeling is mortality forecasting, which aids in population projections and the calculation of longevity risk for the purpose of actuarial bond pricing. This study examines the Lee-Carter model in the context of diverse populations and suggests a multi-bilinear binomial regression model as an extension of the original model. The models were applied to death rates with a variety of features, and the outcomes were contrasted. The National Bureau of Statistics provided data on male mortality in Nigeria for the age group of five class intervals, spanning 25 years, which the article used for the analysis. Using Aikake Information Criterion (AIC) and Bayesian Information Criterion (BIC) as measures of comparability, the suggested model outperforms the Lee-Carter model when applied to fit male mortality rates in Nigeria.

Keywords

Mortality, Lee-Carter, Bilinear, Binomial, AIC

Citations

IRE Journals:
Lawal Fatai Kolade , Ehimony James Babatunde , Olumi Timothy Toba , Usman Momoh Sani , Obafaiye Adegboyega Benedict "Application of Multi-Bilinear Binomial Regression Model to Modelling Heterogenous Mortality Value" Iconic Research And Engineering Journals Volume 8 Issue 10 2025 Page 940-948

IEEE:
Lawal Fatai Kolade , Ehimony James Babatunde , Olumi Timothy Toba , Usman Momoh Sani , Obafaiye Adegboyega Benedict "Application of Multi-Bilinear Binomial Regression Model to Modelling Heterogenous Mortality Value" Iconic Research And Engineering Journals, 8(10)