Assignment 2 - best model for claim frequencies

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Assignment 2 - best model for claim frequencies

Bericht  Admin op do dec 08, 2011 7:04 pm

Do you also get the best AIC for the binomial model when modeling the claim frequencies?
The Poisson is also quite good here, the Normal model is bad.

Problem is that I get a low AIC for the binomail model when modeling claim freqs, but that none of the covariates seems to be significant in contributing.

Anyone with the same issue?

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Re: Assignment 2 - best model for claim frequencies

Bericht  Admin op zo dec 11, 2011 8:27 pm

Apparently you shouldn't use binomial or normal models to model claim frequencies.
You should use e.g. Poisson or overdispersed Poisson to do so.
You should use e.g. lognormal or Gamma to model claim severities.

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