Statistics and Risk
Management
Risk Management Data
Performance Objective:
After completing this lesson, the student will understand the basic concepts of
data gathering and some of the issues involved in data security risks and ethical
utilization.
Approximate Time:
When taught as written, this lesson should take 4-5 days to complete.
Specific Objectives:
 The student will discuss the sources of available data.
 The student will understand the ethics involved in data acquisition.
 The student will review basic legal issues with data acquisition. This lesson corresponds with Unit 3 of the Statistics and Risk
Management Scope and Sequence. Copyright © Texas Education Agency, 2012. All rights reserved. 1 TEKS Correlations:
This lesson, as published, correlates to the following
TEKS for Regression. Any changes/alterations to
the activities may result in the elimination of any or
all of the TEKS listed.
130.169(C)(6)
(C) generate a spreadsheet to collect, collate, organize, and analyze
quantitative data;
(D) use spreadsheets and graphical techniques to present data in a
manner that is understood by and meaningful to colleagues and clients;
InterdisciplinaryTEKS:
English:
110.31 (C) (21) (B)
… organize information gathered from multiple sources to create a
variety of graphics and forms (e.g., notes, learning logs)…
110.31 (C) (22) (B)
…evaluate the relevance of information to the topic and determine the
reliability, validity, and accuracy of sources (including Internet sources)
by examining their authority and objectivity…
110.31 (C) (23) (C)
… use graphics and illustrations to help explain concepts where
appropriate…
Copyright © Texas Education Agency, 2012. All rights reserved. 2 110.31 (C) (23) (D)
… use a variety of evaluative tools (e.g., self-made
rubrics, peer reviews, teacher and expert evaluations)
to examine the quality of the research…
Math:
111.36 (C) (4) (A)
… compare theoretical and empirical probability;
111.37. (C) (3) (B)
… use probabilities to make and justify decisions about risks in everyday
life
Occupational Correlation
(O*Net - http://www.onetonline.org/)
Insurance Underwriter 13-2053.00
Similar Job Titles: Personal Lines Underwriter, Health Underwriter,
Underwriter Director
Tasks:



Decrease value of policy when risk is substandard and specify applicable
endorsements or apply rating to ensure safe profitable distribution of
risks, using reference materials.
Decline excessive risks.
Write to field representatives, medical personnel, and others to obtain
further information, quote rates, or explain company underwriting policies
(Soft) Skills:
Active listening; Judgment and Decision Making; Speaking; Critical Thinking
Copyright © Texas Education Agency, 2012. All rights reserved. 3 Instructional Aids:
1. Display for presentation, websites for
assignments and class discussion
2. Assignment Worksheets
3. Supporting Spreadsheets
Materials Needed:
1. Printer paper
2. Assignments and website information ready to distribute to
students.
Student projects will be displayed to increase interest in Statistics
Equipment Needed:
1. Computer with presentation and Internet Access
2. Computers for Students to Conduct Research and Collect Data
for Projects
Copyright © Texas Education Agency, 2012. All rights reserved. 4 References:
Data Collection Methods
Data Collection is an important aspect of any type of research study. Inaccurate
data collection can impact the results of a study and ultimately lead to invalid
results.
Data collection methods for impact evaluation vary along a continuum. At the
one end of this continuum are quantitative methods and at the other end of the
continuum are qualitative methods for data collection.
http://people.uwec.edu/piercech/researchmethods/data%20collection%20metho
ds/data%20collection%20methods.htm
Data Acquisition and Management
This article answers the following important questions on the collection and use
of data. What are data? Who owns data? What are proper ways to collect data?
What are the issues in data storage and retention? What are the obligations to
share data?
http://ccnmtl.columbia.edu/projects/rcr/rcr_data/foundation/index.html
Database Security: What Students Need To Know
Understanding the aspects of controlling and protecting data, including:
confidentiality, integrity, and availability.
http://www.jite.org/documents/Vol9/JITEv9IIPp061-077Murray804.pdf
Copyright © Texas Education Agency, 2012. All rights reserved. 5 Teacher Preparation:
Teacher will:
1.
presentation, and
handouts.
2.
resources and websites.
3.
websites ready.
Review terms in outline,
Locate and evaluate various
Have assignments and
Learner Preparation:
It is time to wrap up what the students have learned about
statistics. You will briefly describe commercial software for
statistics with examples the student might find interesting. Then
the student will get to apply what they have learned to analyzing
data.
Introduction:
STUDENTS will watch the Unit video found here:
jukebox.esc13.net/untdeveloper/Videos/Risk%20Management%
20Data.mov
STUDENTS will take the practice test and review using the Key,
found in Common/Student Documents.
EXHIBIT:
Excitement for data acquisition.
INTRODUCE: The idea of acquiring data.
ASK:
Ask students to list the many reasons data may
be acquired, and the entities (retailers,
politicians, not-for-profits, hotels, airlines, etc.)
that acquire data.
Copyright © Texas Education Agency, 2012. All rights reserved. 6 I. Risk Management Data
A. Risk Management Review
Context Definition
Risk Identification
Risk Assessment
Risk Treatment
Communication
Planning
Checking & Supervision
Process Review
External Research
News Papers
Industry Periodicals
Industry Journals
Government Documents
Web Based Searches
Internal Research
Proposals
Running Projects
Department Reports
Human Resource Reports
Financial Statements
Litigation Reports
Data Liability Risks
Credit Information
Medical History Information
Internal Data Capture
Point of Sale Systems (Cash
Registers)
Bar Code Readers
Magnetic Strip Readers
Optical Character
Recognition (OCR)
Radio Frequency (RF)
Capture
Finger Print Scanners
Eye/Facial Scanners
Human Resource
Operation Capture
Machine Operation
Capture
Data Transfer
Local Area Networks
(LAN)
Use
3.1_RiskManagementData.pp
tx
Copyright © Texas Education Agency, 2012. All rights reserved. 7 Wide Area Networks
(WAN)
End of Day Batch
Transfers
Real Time Reporting
Data Processing
Hardware
Main Frame/Server
Computers
Desktop Computers
Hand-held & Portable
Devices
Software
Accounting Software
Statistical Software
Spreadsheets
Data Security
Anonymity of Sites
Firewall Appliances and
Software.
Advanced User Security.
Comprehensive “user”
logs with a good review
process.
Protected Batch Driven
software.
Data Security
Strategic Plans and
Decisions
Copyrighted or Patented
Materials
Competitive Processes
and Techniques
Communications
Misuse of IT technologies
Provide Assignment sheets and discuss
and answer any questions about
assignment (In class or take homeInstructor’s Option)
Provided .docx files
13.1a_RiskManagementData.
docx
Copyright © Texas Education Agency, 2012. All rights reserved. 8 Guided Practice:
See assignments.
Independent Practice:
Review document “Spreadsheets for Statistical Purposes” – in
Common Documents.
See assignments.
Review:
Question:
Describe ways of collecting data.
Question:
What are some main uses of data?
Informal Assessment:
Instructor should observe student discussion and monitor interaction.
Formal Assessment:
Completion of provided assignments using included keys for grading.
Copyright © Texas Education Agency, 2012. All rights reserved. 9 Student Assignment
13.1a Risk Management Data Key
Name: ____________________
The Loan Officers of a large bank were given a report of the cancer
patients receiving treatments at a large hospital for the purpose of
approving a loan for the hospital in regards to the expansion of their
cancer treatment center.
The Loan Officers reviewed the list and found two patients who had
loans at their bank. They immediately called in those loans under the
terms of the loan contract using a clause that states “any identifiable
conditions calling into doubt the ability to service loan, renders the loan
immediately due in full.”
Is this a good business practice? Is what happened unethical? Are
there any illegalities involved? Explain what you find in your research.
Key Words: HIPAA Confidentiality, Medical Privacy, Lending Practices,
Loan Discrimination
Answers will vary.
Copyright © Texas Education Agency, 2012. All rights reserved. 10 NAME:_________________________________________ DATE:____________________ CLASS:______________ Risk Management Data Test TRUE and FALSE: 1. Two types of research include internal and external research A. True B. False 2. Observational studies require random selection. A. True B. False 3. A sample survey is a study that obtains data from a subset of a population, in order to estimate population attributes. A. True B. False 4. In most studies, a census is not practical because of the cost and/or time required. A. True B. False 5. A well‐designed sample survey can provide very precise estimates of population parameters. A. True B. False 6. Causal Inference refers to the appropriateness of applying findings from a study to a larger population. A. True B. False MATCHING: A.
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Census Regression Observational Study Measures of Central Tendencies Experiment __________ A controlled study in which the researcher tries to understand cause‐and‐effect relationships. __________ Like experiments, these attempt to understand cause‐and‐effect relationships __________ The measurement of a relationship between two variables. __________ The technique of predictive relationships based upon correlational data. __________ A study that obtains data from every member of a population. MULTIPLE CHOICE: 12. ____ Which of the following is not an example of internal data capture? A. Finger Print Scanner B. Bar Code Reader C. Magnetic Strip Reader D. None of the Above 13. ____ Encryption along with which of the following help to ensure data security? A. Data integrity B. System availability C. Access control D. All of the above 14. ____ Data collection methods consist of _____________. A. Census B. Sample Survey C. Experiment D. All of the above Copyright © Texas Education Agency, 2012. All rights reserved. 11 NAME:_________________________________________ DATE:____________________ CLASS:______________ Risk Management Data Test 15. ____ _____ in statistics are important to give the right direction to research so that it is objective and reflects the truth. A. Ethics B. Bias C. Reliability D. None of the above 16. ____ _____ means that data is protected from deletion and corruption, both while it resides within the database, and while it is being transmitted over the network. A. Availability B. Data Integrity C. Granular access control D. Secure storage 17. ____ All of the following except ______ are potential data security risks. A. Password related threats B. Eavesdropping and data theft C. Data tampering D. Strong accountability 18. ____ Changing the dollar amount of a banking transaction from $100 to $10,000 is an example of ___. A. Data theft and eavesdropping B. Falsifying user identities C. Data tampering D. Password related threats 19. ____ _____ of data loss is caused by insiders, not hackers. A. 50% B. 60% C. 70% D. 80% 20. ____ _______ of Internet break‐ins occur in spite of a firewall being in place. A. 20% B. 30% C. 40% D. 50% 21. ____ _______ are a collection of facts, measurements, or observations used to make inferences about the world we live in. A. Statistics B. Sample Sets C. Populations D. Data 22. ____ Television, Newspapers, Industry Periodicals and Web Searches are all examples of _____. A. Internal Research B. External Research C. Surveys D. Experiments 23. ____ WAN stands for _____. A. World Area Network B. Wide Area Network C. Wide Assisted Network D. Wide Associated Network 24. ____ The _________ is responsible for using the system for legitimate purposes, protecting sensitive data to which they have access, and managing passwords securely. A. Network Administrator B. Database Administrator C. Operating System Administrator D. User 25. ____ This person is responsible for ensuring the security of data in transmission. A. Network Administrator B. Database Administrator C. Operating System Administrator D. User Copyright © Texas Education Agency, 2012. All rights reserved. 12 Risk Management Data Test Key
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