Soa exam pa qa 2023 Study guides, Class notes & Summaries

Three main categories of predictive modeling problems - Answer- 1. Descriptive - Focuses on what happened in the past and aims to "describe" or explain the observed trends by identifying the relationships between different variables 2. Predictive - Focuses on what will happen in the future and is concerned with making accurate predictions 3. Prescriptive - Uses a combination of optimization and simulation to investigate and quantify the impact of different prescribed actions in different sce...