Research Article

On the Usefulness of the Logarithmic Skew Normal Distribution for Describing Claims Size Data

Table 3

Parameter estimates and standard errors (in brackets) of the homogeneous model together with some measures of model selection for different distributions considered for Wisconsin hospital costs’ dataset.

ModelNLLAICCAICKSAD

Pareto3.6206.000937.0191876.0401881.3000.3450.224
(0.158)(0.000)(0.000)
PAT15.900647.2735.307600.4071206.3301222.1200.8461.355
(0.628)(10.897)(0.083)(0.000)(0.000)
LSN−3.1327.9410.2772.601590.1341188.2701209.3300.0510.004
(0.338)(0.031)(0.007)(0.123)(0.492)(0.260)