Select the appropriate model for an extended linear model.
Free CAS MAS-I (Modern Actuarial Statistics I) lesson in Extended Linear Models. 15 min read, ~2,253 words.
Match the distribution to the response: counts use Poisson or negative binomial, positive skewed severities use gamma or inverse Gaussian, binary outcomes use binomial, proportions of exposure use Tweedie. Match the link to the scale: log link for multiplicative rating, logit for probabilities, identity only when additive structure is defensible...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- C1
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