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Post by Jim on Jan 13, 2019 13:46:17 GMT -8
Hi I wanted to be sure if, in Part B of task 2, "evaluate the GLM output..." refers to calculating the standard error of the data on the Model output tab? Does it imply the use of other statistical testing?
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Post by Ping on Jan 13, 2019 14:35:39 GMT -8
Hi
For task 1, part b, the example says "The average driver level FACTOR of all drivers will be taken." Does the "factor" here refer to a specific category, say "years of driving experience", or the total of 3 categories?
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Post by Admin on Jan 13, 2019 16:11:34 GMT -8
Hi I wanted to be sure if, in Part B of task 2, "evaluate the GLM output..." refers to calculating the standard error of the data on the Model output tab? Does it imply the use of other statistical testing? We will not answer this question. Please read the prompt fully, including the parenthesized hint, and interpret it as your team wishes. Hi For task 1, part b, the example says "The average driver level FACTOR of all drivers will be taken." Does the "factor" here refer to a specific category, say "years of driving experience", or the total of 3 categories? We will not answer this question. Please read the prompt fully, including the example provided, to decide which interpretation is proper. You may want to reference the "Rating Steps" tab to look at which factor(s) fall under the category of "driver level".
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Post by srichavva on Jan 13, 2019 17:18:02 GMT -8
Looking for clarification on the following question "What are the considerations when selecting time period of the data?"
Is it asking how we should decide what time period to model in the future?
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Post by Admin on Jan 13, 2019 18:48:29 GMT -8
Looking for clarification on the following question "What are the considerations when selecting time period of the data?" Is it asking how we should decide what time period to model in the future? This refers to deciding how much historical data should be used in the model.
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Post by Sam Zhou on Jan 13, 2019 18:54:09 GMT -8
Vehicle Symbol (A,B,C...,G), doesn't these refer to the car types/qualities/conditions or are they just assigned to random letters?
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Post by Guest on Jan 13, 2019 19:17:14 GMT -8
BI PD COMP COLL What do these mean
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Post by Guest on Jan 13, 2019 19:29:04 GMT -8
Also to the question above was there an extra document discussing the meaning of these values or the spreadsheet or are we suppose to figure them out by ourselves?
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Post by Admin on Jan 13, 2019 19:46:40 GMT -8
Vehicle Symbol (A,B,C...,G), doesn't these refer to the car types/qualities/conditions or are they just assigned to random letters? There is no direct meaning given to the vehicle symbols. You are free to make any inferences you wish. BI PD COMP COLL What do these mean Also to the question above was there an extra document discussing the meaning of these values or the spreadsheet or are we suppose to figure them out by ourselves? We will not answer these questions. Please read the prompt fully.
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Post by Julia Trees on Jan 13, 2019 20:51:24 GMT -8
Is earned exposure the same as expected loss ratio or earned premium percentage?
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Post by Admin on Jan 13, 2019 21:03:21 GMT -8
Is earned exposure the same as expected loss ratio or earned premium percentage? We will not answer this question. Please look these terms up.
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Post by Lin on Jan 14, 2019 14:06:29 GMT -8
In Profile#1, Vehicle 2 has COMP Deductible and COLL Deductible of "N", but there is no corresponding deductible factor for "N" in the Factor Tables. What value should we use?
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Post by Admin on Jan 14, 2019 14:29:49 GMT -8
In Profile#1, Vehicle 2 has COMP Deductible and COLL Deductible of "N", but there is no corresponding deductible factor for "N" in the Factor Tables. What value should we use? Please reference our answer on page 1 of this forum.
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Post by Bruin Actuary on Jan 14, 2019 18:50:34 GMT -8
Hi, for Task 2 Part (D), does the "retention" refer to customer retention or the insurance glossary "retention" ("Assumption of risk of loss by means of noninsurance, self-insurance, or deductibles.")? Thanks!
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Post by Admin on Jan 14, 2019 19:26:54 GMT -8
Hi, for Task 2 Part (D), does the "retention" refer to customer retention or the insurance glossary "retention" ("Assumption of risk of loss by means of noninsurance, self-insurance, or deductibles.")? Thanks! We will not answer this question. Please use the context of the rest of the sentence to determine which definition is more appropriate.
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Post by Guest on Jan 14, 2019 20:26:41 GMT -8
For the rater, can we have the given spreadsheet "Rater1" that only shows rating steps & result and create another spreadsheet called "Rater1 Factors" that displays rating factors for each step?
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Post by Admin on Jan 14, 2019 20:29:52 GMT -8
For the rater, can we have the given spreadsheet "Rater1" that only shows rating steps & result and create another spreadsheet called "Rater1 Factors" that displays rating factors for each step? As previously mentioned, feel free to create additional sheets as necessary to organize your work. However, we do expect your work to be neatly presented and easy to follow and understand. Note that the judges have extremely limited time to look through the workbooks, and are not able to dedicate extensive amounts of time to attempt to follow your calculations and displays if they are convoluted or unclear. It would be in your best interest to make your work as clear and easy to follow as possible--it is up to you to decide how to do so.
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Post by Ann on Jan 14, 2019 23:57:12 GMT -8
Following your response to the previous question, do we need to show our workbooks during the presentation? to demonstrate our raters? or should we only discuss the results and the excel work will be judged/graded separately?
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Post by Admin on Jan 15, 2019 7:53:25 GMT -8
Following your response to the previous question, do we need to show our workbooks during the presentation? to demonstrate our raters? or should we only discuss the results and the excel work will be judged/graded separately? This is a great question! We'll address this in an email to all teams.
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Post by Bin on Jan 15, 2019 16:20:29 GMT -8
Is the rater suppose to have an input and an output? Such as typing information in an area and having it update a table? Or is it suppose to be tables with such information?
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