2018Q7a
in GLM.Basics
The questions states that "The actuary has decided to offset all of the current model variables before fitting the new variable." Is this statement the reason that the "Fitted Probability w/o Insurance Score" being used to calculate the offset terms?
Comments
Yes, rather than having to show the complete list of model variables along with their relativities it's easier to show the output of the current model and use that as the offset.