Select the appropriate model for an extended linear model.
Free CAS MAS-I (Modern Actuarial Statistics I) lesson in Extended Linear Models. 16 min read, ~2,408 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, pure-premium responses use Tweedie. Match the variance function to the data: Poisson, gamma, inverse Gaussian. Match the link to the scale: log link for multiplicative rating...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- C1
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