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Generalized/Generalised Linear Model (GLM)

\ˈʤɛnərəˌlaɪzd\ \ˈlɪniər\ \ˈmɑdəl\

A mathematical model used to predict the outcome of a future event that follows the pattern of a specific statistical distribution.

The results of the event are driven by a set of predicting variables. The generalized linear model is used to calculate how the predicting variables interact with each other and how they affect the results of the event by calibrating to past data. The calibrated model can then be used to predict occurrences of the event in the future.

Generalized Linear Models (or GLMs) are often used to develop ratings factor models for measuring baseline longevity.

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