CAS Exam 8 Fall 2017, Question 5
Study guide: Exam 8
An analyst has fit several different variations of a logistic GLM to a dataset containing 1,000 records of fraudulent claims and 9,000 records of legitimate claims. For each model variation listed below, draw a quintile plot based on the training data. Label the axes and identify each data series.
- i. A saturated model
- ii. A null model
- iii. A model that could be used in practice
Part a (1.75 points)
Answer this question and see the worked solution