Soa exam pa review qa Study guides, Class notes & Summaries
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SOA Exam PA Review Q&A
- Exam (elaborations) • 8 pages • 2023
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Explain the difference between descriptive, predictive, and prescriptive modeling - Answer- Descriptive - focuses on what happened in the past and aims to describe the observed trends by identifying relationships between variables. Predictive - What will happen in the future and making accurate predictions. Prescriptive - Combo of optimization and simulation to investigate the impact of prescribed actions in different scenarios. Explain the difference between supervised and unsupervised le...
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