Explain (a) the difference between categorical and non-categorical factors; (b) the reason why, when the number of

Question:

Explain

(a) the difference between categorical and non-categorical factors;

(b) the reason why, when the number of levels of a categorical factor becomes large, using GLM may become difficult; and

(c) describe possible ways to address this problem.

(Note: The answer to part

(c) of the question is the subject of the next chapter).

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Pricing In General Insurance

ISBN: 9780367769031,9781000860832

2nd Edition

Authors: Pietro Parodi

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Question Posted: Jul 23, 2024 11:01 AM

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Explain (a) the difference between categorical and non-categorical factors; (b) the reason why, when the number of

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Pricing In General Insurance

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