Plot a fitted truncated severity distribution
Source:R/truncated_distributions.R
autoplot.truncated_severity.RdCreates a plot of the empirical cumulative distribution function (ECDF) of the observed truncated claim amounts together with the fitted truncated CDF.
The comparison assesses whether the fitted conditional severity distribution represents the shape of the observed claims within the same truncation interval.
Usage
# S3 method for class 'truncated_severity'
autoplot(
object,
ecdf_geom = c("point", "step"),
x_label = NULL,
y_label = NULL,
y_limits = c(0, 1),
x_limits = NULL,
show_title = TRUE,
digits = 2,
truncation_digits = 2,
geom_ecdf = NULL,
xlab = NULL,
ylab = NULL,
ylim = NULL,
xlim = NULL,
print_title = NULL,
print_dig = NULL,
print_trunc = NULL,
...
)Arguments
- object
An object produced by
fit_truncated_severity().- ecdf_geom
Character string indicating how to display the empirical CDF. Must be one of
"point"or"step".- x_label
Title of the x axis. Defaults to
"severity".- y_label
Title of the y axis. Defaults to
"cumulative proportion".- y_limits
Numeric vector of length 2 specifying y-axis limits.
- x_limits
Optional numeric vector of length 2 specifying x-axis limits.
- show_title
Logical. If
TRUE, print title and subtitle.- digits
Integer. Number of digits for parameter estimates in the subtitle.
- truncation_digits
Integer. Number of digits used for truncation bounds.
- geom_ecdf, xlab, ylab, ylim, xlim, print_title, print_dig, print_trunc
Deprecated argument names kept for backward compatibility.
- ...
Currently unused.
Details
The plot compares the empirical distribution of the observed, truncated claim severities with the fitted distribution conditional on the same truncation interval. This is a visual check of whether the selected severity distribution is plausible for the part of the portfolio that is actually observed.
Systematic separation between the empirical and fitted curves can indicate that the selected gamma or lognormal distribution does not adequately represent the observed severity shape. The plot does not assess the unobserved parts of the distribution outside the truncation bounds.