A method to plot and/or return residuals for models in the BALD package.
The object of type AnnualAggLossDevModelOuput from which to plot and/or return the residuals.
A character value describing along which of the three (3) time axis to plot the residuals. ‘dy’ for development year time, ‘cy’ for calendar year time, ‘ey’ for exposure year time.
A logical value. If TRUE, the plotted and returned residuals are normalized to their respective standard deviation.
A logical value. If TRUE, the plot is generated and the statistics are returned; otherwise only the statistics are returned.
Mainly called for the side effect of plotting. Also returns a named array with the same structure as the input triangle. Returned invisibly.
Because the model is Bayesian, each residual comes as a distribution. To ease graphical interpretation, only the median for each residual is plotted/returned. The residual is defined as the observed value minus the posterior mean; if standardized, it is also divided by its posterior standard deviation.