Soa exam pa review qa - Study guides, Class notes & Summaries

SOA Exam PA Review Q&A Last document update:   ago

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...