Compare models via predictive performance measures (e.g., double lift chart).
Free CAS MAS-II (Modern Actuarial Statistics II) lesson in Statistical Learning. 14 min read, ~2,159 words.
Always evaluate on hold-out data (test set or cross-validation); in-sample fit overstates accuracy. Single lift chart: sort hold-out by predicted, bucket into deciles, plot actual versus predicted; a monotone increase proves the model has signal and orders risk correctly. Double lift chart: sort by the ratio of challenger to incumbent...
Read the full lesson, free →
Worked examples and practice. Free with a free account, no card.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- C11
Browse all free MAS-II lessons or jump into free MAS-II practice questions.