Financial Chapter 11

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The flashcards below were created by user Kathlaen on FreezingBlue Flashcards.

1. fact
2. inference
3. inferential statistics
4. law of large numbers
5. probability sampling
6. simple random sampling
7. random number generator
8. systematic random sampling
9. stratified random sampling
10. nonprobability sampling
11. sample errors
12. statistical validity
13. trend analysis
14. variable
15. independent variable
16. dependent variable
17. point estimate
18. range estimate
19. OBJECTIVES: Describe how the law of large numbers affects the value of conclusions based on sample data.
20. OBJECTIVES: Describe the 3 primary forms of probability sampling and identify the strengths and limitations of each form.
21. OBJECTIVES: Describe siTuations in which nonprobability sampling is, and is not, appropriate for insurers.
22. OBJECTIVES: Identify some of the actions insurers can take to reduce various forms of sampling bias.
23. OBJECTIVES: Describe how sample values differ from population values and explain how insurers can improve the statistical validity and accuracy of sample results.
24. OBJECTIVES: Explain how identifying trends in population data can help ins co's make decisions about products and markets.
25. OBJECTIVES: Describe the 3 primary elements of a financial model and explain how insurers can use modeling to forecast future financial conditions.

Card Set Information

 Author: Kathlaen ID: 120996 Filename: Financial Chapter 11 Updated: 2011-12-05 21:40:33 Tags: financial Folders: Description: Chapter 11: Analyzing Sample Data Show Answers:

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