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(0) List the advantages and disadvantages of using models in actuarial work. A new town is planned in a currently rural area. A model is to be developed to recommend the number and size of schools required in the new town. The proposed modelling approach is as follows: The current age distribution of the population in the area is multiplied by the planned population of the new town to produce an initial population distribution. . Current national fertility and mortality rates by age are used to estimate births and deaths. . The births and deaths are applied to the initial population distribution to generate a projected distribution of the town's population by age for each future year, and hence the number of school age children. (ii) Discuss the appropriateness of the proposed modelling approach