PRMIA Exam 8007 Topic 1 Question 66 Discussion

Actual exam question for PRMIA's Mathematical Foundations of Risk Measurement ? 2015 Edition exam

Question #: 66
Topic #: 1

Which of the following can be used to evaluate a regression model?

(i) Magnitude of R2

(ii) Magnitude of TSS (total sum of squares)

(iii) Tests for statistical significance

(iv) Sign and magnitude of each regression parameter

A(i) and (iv)

B(i), (ii), and (iii)

C(i), (iii), and (iv)

D(i), (ii), (iii), and (iv)

Show Suggested Answer

Suggested Answer: C

by Xuan at Feb 13, 2024, 03:14 AM

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1 days ago

Yes, I agree. The magnitude of R2 and TSS can give us a good insight into the model's accuracy.

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2 days ago

I think we should consider all the options when evaluating a regression model.

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