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What occupation uses knowledge and statistics to determine insurance rates?
Wiki User
∙ 13y ago
An actuary does those things.
Wiki User
∙ 13y ago
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How do you make a sentence with the word statistics?
In school today we learned about statistics. Knowledge of statistics and probability can help one predict future events.
How important is statistics in medicine?
Incredibly important ! All clinical practice is based on statistics. Would you implement an intervention (ie a new drug) if you had no proof that it worked ! In medical practice we gain knowledge and make decisions based on knowledge gained though research.
What is meant by distrust of statistics?
It is a general belief that "statistics can prove anything." This statement is partly true and false. It is false because mere statistics should not be taken for granted without proper verification. It is true because statistics is often used by unscrupulous people to achieve their personal ends. This results in loss of faith or confidence on statistics or in causing distrust of statistics. Distrust of statistics literally means lack of trust in statistical data, statistical analysis and the conclusions derived from it. We often hear statements like. (i). Statistics is an unreliable science (ii). Statistics are lies of the first order. (iii). There are three type of lies-lies, damned lies and statistics. (iv). Figures do not lie, liars figure. These are expressions of distrust in statistics. These views of statistics stem from the misuse of statistics by the interested parties.Publicity, advertisers of various products, Governments and other organizations are trying to promote their sectional interest using statistics and statistical methods. This causes distrust of statistics. Some of the important reasons of distrust in statistics are the following: (a) Facts based on figures are more convincing. But these figures can be manipulated according to one's wishes. This misguides public causing distrust in statistics. (b) Sometimes statistical analyses are misinterpreted causing distrust in statistics. Supposing the mortality rates of patients are more in Indian hospitals. From this one may wrongly conclude that it is safer to treat the patients at home. This type of misinterpretation also causes distrust in statistics. Statistics are useful tools. One uses them according to his knowledge and experience. Use of statistics makes a statement more convincing. But its misuse causes distrust. So it is necessary that people should be adequately prepared to know the reality or to shift the truth from untruth, good statistics from bad statistics. WI. King has rightly observed "statistics are like clay of which you can make a 'God' or a 'Devil' as you please."
What type of probability uses a knowledge of sample spaces as opposed to experiments to determine the numerical probability that an event will occur?
Theoretical probability.
In order to determine the size of a sample the standard deviation of the population must be estimated To do this you can either take a pilot survey or it can be approximated based on a knowledge of?
true
A scientist is using his knowledge of statistics to determine whether test results show that a composite drug has effectively counteracted allergy symptoms. What is the scientist doing?
evaluating test results.
How do you make a sentence with the word statistics?
In school today we learned about statistics. Knowledge of statistics and probability can help one predict future events.
Why should I take a college statistics class?
College Statistics is important for several majors, including economics, business, accounting, and mathematics. Retaining this knowledge will help you in the business world and give you an advantage over those who either did not take Statistics, or did not retain the knowledge from their Statistics classes.
How can you find out if life insurance has been taken out in your name without your knowledge.?
How can you find out if life insurance has been taken out in your name with or without your knowledge.?
Can another Insurance agent take a split on commission without your knowledge?
Only screwed insurance agents will take a split on commission without your knowledge.
What are some prerequisites for using Bayesian statistics?
One prerequisite for Bayesian statistics is that you need to know or have prior knowledge of the opposite of the probability you are trying to create.
What has the author Deborah A Dawson written?
Deborah A. Dawson has written: 'AIDS knowledge and attitudes of Hispanic Americans' -- subject(s): AIDS (Disease), Health surveys, Statistics 'Breast cancer risk factors and screening' -- subject(s): Breast, Breast Neoplasms, Cancer, Epidemiology, Health surveys, Mass Screening, Medical Statistics, Risk factors, Statistics 'AIDS knowledge and attitudes for January-March 1989' -- subject(s): AIDS (Disease), Health surveys, Statistics 'AIDS knowledge and attitudes' -- subject(s): AIDS (Disease), Health surveys, Statistics 'AIDS knowledge and attitudes for January-March 1990' -- subject(s): AIDS (Disease), Health surveys, Statistics
What math skills do you need to interpret a circle graph?
Have a basic knowledge of statistics and the properties of a circle
If you were stopped by the police and no ticket was issued does your insurance company find out about it?
No, no ticket, no report, no knowledge to insurance company.
Can you borrow against veteran life insurance?
No. To the best of my knowledge, veteran's life insurance has no cash value.
What math courses should be taken before taking statistics?
College Algebra 1 and 2. I am not a statistician, but my statistics course required a knowledge of probability distributions which required a solid knowledge of integral calculus. I don't see how you could get by with just college algebra.
How important is statistics in medicine?
Incredibly important ! All clinical practice is based on statistics. Would you implement an intervention (ie a new drug) if you had no proof that it worked ! In medical practice we gain knowledge and make decisions based on knowledge gained though research.
