Which of the Following Are Problems with the Actuarial Approach

question 84

Multiple Choice

Which of the following are problems with the actuarial approach?

• A) Many of the equations and algorithms found in the literature do not generalize to practice settings.
• B) Those who endorse it argue that there is no substitute for the clinician's experience and personal judgment in coming to decisions.
• C) There is often more than one approach to choose from, yielding different results.
• D) Actuarial decisions are often affected by subjective influences upon decision-making.
• E) The clinical approach is more efficient in making predictions in a variety of situations.

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Tangible Capital

Physical assets owned by a firm or individual that are used in the production process, such as machinery, buildings, and equipment.

Intangible Capital

Non-physical assets possessed by a company, such as intellectual property, brand recognition, and goodwill.

Human Capital

The set of skills, knowledge, abilities, and attributes that individuals can use to create economic value.

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The charge or fee for instruction at a college, university, or similar educational institution.