Actuarial Notes

CAS Exam MAS-I Sample Question 3

Study guide: Exam MAS-I

You are given the following statements about different resampling methods:

  • I. Leave-one-out cross-validation (LOOCV) is a special case of k-fold cross-validation
  • II. k-fold cross-validation has higher variance than LOOCV when k < n
  • III. LOOCV tends to overestimate the test error rate in comparison to validation set approach

Determine which of the above statements are correct.

  • A) I only
  • B) II only
  • C) III only
  • D) I, II, and III
  • E) The correct answer isn't given by (A), (B), (C), or (D)

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