by Nikolas Papadopoulos
Last Updated July 11, 2019 19:19 PM - source

I have a data set of 10000 obs of insurance claims. I've fitted it to a Gamma distribution after dividing my values by 10^8; to a Log-Normal distribution, without changing anything in my data set; and to a Normal distribution, by taking the natural log of all the values in my data set.

Now I need to pick the best model, and I want to use BIC values to justify my decision. But I feel like these values can't be compared due to the changes in my data set. Can I use BIC regardless of the changes?

The purpose of my analysis is simply deciding the best model for insurance claims.

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