I’m building my first tweedie model, and I’m finally trying the {recipes} package.
We will try to predict the pure premium of car insurance policy. This can be done directly with a tweedie model, or by multiplying two separates models: a frequency (Poisson) and a severity (Gamma) model. We wil be using “lift charts” and “double lift charts” to evaluate the model performance .
Here’s is the plan:
Pre-process the train and test data using recipes.
