Actuarial Notes

CAS Exam MAS-I Sample Question 2

Study guide: Exam MAS-I

You want to fit a cubic spline to a large dataset and need to determine the number of knots to use. Below is a chart of four statistics from this model valued for various numbers of knots:

Determine which set of statistics below best describes each line.

  • A) W is Test MSE, X is Variance, Y is Squared Bias, Z is Train MSE
  • B) W is Variance, X is Squared Bias, Y is Test MSE, Z is Train MSE
  • C) W is Train MSE, X is Test MSE, Y is Variance, Z is Squared Bias
  • D) W is Test MSE, X is Train MSE, Y is Variance, Z is Squared Bias
  • E) W is Variance, X is Train MSE, Y is Test MSE, Z is Squared Bias

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