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Q8 (ii) Sep. 2020

Discussion in 'SP7' started by Smith, Jun 12, 2021.

  1. Smith

    Smith Very Active Member

    wondering do not so sure to master the distinction between parameters and variables of a capital model, so would like to consult that, if as the solutions, what are the variables of capital model? for previously i was understanding e.g. reserve estimate, volatility, are modelled variables, seemingly incorrect? and such kind of topic seems not covered any by the study materials.

    thanks!
     
    Smith, Jun 12, 2021
    #1
  2. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    Variables are things that vary. Variables could be inputs to a model, or outputs from a model.
    Parameters are the things you set within the model, for example the mean or the variance of a distribution. These things will have been discussed in the early statistical exams.
     
    Ian Senator, Jun 16, 2021
    #2

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