The Doctor Is In --Dickeson

Cost estimating/pricing lives in a world of virtual reality, forcing decisions based on predictions from tables that are not intended for such use. Actuaries can only look at groups like white male smokers, construction workers, homemakers, etc., and provide averages and ranges of life expectancy. All we can do with our predictors is provide averages and ranges of job performance expectancy. Clearly, we can't use them to set our pricing.