Compress the event loss table
Function to merge losses of the same amount adding up their corresponding occurrence rates, and to round the losses to the 10^digits integer value.
compressELT(ELT, digits = 0)
ELT: Data frame containing two numeric columns. The column Loss contains the expected losses from each single occurrence of event. The column Rate contains the arrival rates of a single occurrence of event.digits: Integer. It specifies the rounding of the losses to the 10^digits integer value of the event loss table. digits < 0 decreases the precision of the calculation, but considerably decreases the time to perform it. If digits = 0 it only merges the losses of the same amount adding up their corresponding rates. The default value is digits = 0.Data frame containg two numeric columns. The column Loss contains the expected losses from each single occurrence of event. The column Rate contains the arrival rates of a single occurrence of event.
data(UShurricane) # Compress the table to thousands of dollars USh.k <- compressELT(ELT(UShurricane), digits = -3) summary(USh.k) # Compress the table to millions of dollars USh.m <- compressELT(ELT(UShurricane), digits = -6) summary(USh.m)