The actuarial methodology powering insurance risk models is advancing faster than most carriers realize. Here is what is ...

Many response variables are handled poorly by regression models when the errors are assumed to be normally distributed. For example, modeling the state damaged/not damaged of cells after treated with ...

Recent large language models (LLMs), such as ChatGPT, have demonstrated remarkable prediction performance for a growing array of tasks. However, their proliferation into high-stakes domains and ...

Linear models, generalized linear models, and nonlinear models are examples of parametric regression models because we know the function that describes the relationship between the response and ...