Select the appropriate model structure for an extended linear model given the behavior of the data set (e.g., appropriate link function and distribution for GLM).
Free CAS MAS-I (Modern Actuarial Statistics I) lesson in Extended Linear Models. 14 min read, ~2,170 words.
A GLM has three pieces: a random component (distribution from the exponential family), a systematic component (linear predictor ), and a link function. Pick the distribution from the response support and mean-variance relationship, not from the predictor scale. Counts use Poisson or negative binomial, positive continuous severities use gamma or...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- C2
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