100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ARM 401 – 4 Exam Questions with Correct Answers. $10.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. ARM 401
  4.  
  5. ARM 401

Exam (elaborations)

ARM 401 – 4 Exam Questions with Correct Answers.

1 review
 18 views  0 purchase
  • Course
  • ARM 401
  • Institution
  • ARM 401

ARM 401 – 4 Exam Questions with Correct Answers.

Preview 2 out of 6  pages

Document information

  • June 9, 2024
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • arm 401 4 exam questions with correct answers

Written for

  • ARM 401
  • ARM 401

1  review

review-writer-avatar

By: AGRADEPROMASTER • 3 months ago

Seller

avatar-seller
Wisdoms

Reviews received

Content preview

ARM 401 – 4 Exam Questions with Correct Answers
Big Data - Answer - Sets of data that are too large to be gathered and analyzed by traditional methods.
Data Governance - Answer - Is a framework of rules, standards and decisions for managing data. The program set standards and oversee the management of a firm's data assets in order to meet quality standards and to prevent abuse.
Five Characteristics of Big Data - Answer - 1. Volume
2. Variety
3. Velocity
4. Veracity
5. Value
Sources of Big Data - Answer - Internal data - Owned, captured and stored by an organization.
External data - Belongs to an entity other than the entity that wishes to use it.
Internal Data - Answer - Data owned by the entity that uses it.
External Data - Answer - Belongs to an entity other than the entity that wishes to use it.
Structured Data - Answer - Is data organized into databases
with defined fields and links between and among
databases.
Unstructured Data - Answer - Is data that is not organized and
that often consists of text, images, and nontraditional media.
Third-party data includes - Answer - Geo-demographic data (classification of population), economic data (interest rates, assets prices, exchange rates and consumer pricing index) and credit rating
Economic data. - Answer - Includes interest rates, asset prices, exchange rates, and the consumer price index
Geodemographic data - Answer - Regards classifications of population groups. Big Data Categories - Answer - 1. External and structured - telematics, financial data, labor statistics.
2. External and unstructured - Social media, new reports and internet videos.
3. Internal and Structured - Policy information, claims history and customer data.
4. Internal and unstructured - Adjusters notes, customer voice recordings and surveillance videos.
Predictive Modeling - Answer - Uses a defined target variable to predict or estimate an unknown outcome. Used to predict future values and estimate unknown past or present values.
Target Variable - Answer - Is the attribute whose value is being predicted in a data analytical model.
Seven Steps in Building a Predictive Model - Answer - 1. Gather historic data.
2. Divide date into training data and holdout data.
3. Build the model using the training data.
4. Apply the model using the training data.
5. Use performance metrics to evaluate the model.
6. Use feedback to adjust the model, repeating Steps 3, 4 and 5 as needed.
7. Put the model into production and reevaluate as needed.
Training a Predictive Model - Answer - Using existing data to create predictive models that help them anticipate behaviors.
Training Data - Answer - Data that is used to train a predictive model and that therefore must have known values for the target variable of the model.
Overfitting - Answer - Occurs when the model is so closely tailored to the training data that it is not effective on other, new data.
Holdout Data - Answer - Existing data with a known target variable that is held back and not used as part of the training data. The data is used to test the model to make sure that it performs well on known
data.
Generalization - Answer - A model's ability to apply itself to data outside the training data.
Performance Metrics - Answer - Can be presented in a confusion matrix.
1. Accuracy -- Measures how often the model predicts the correct outcome.
Equals correct predictions divided by total predictions.
Accuracy = (TP+TN) / (TP+TN+FP+FN).

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Wisdoms. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73314 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.49
  • (1)
  Add to cart