When deciding between a regression spline and local regression, which component must be considered for a regression spline but not for local regression?

Study for the MAS-1 exam of the Casualty Actuarial Society. Utilize flashcards and multiple choice questions with detailed hints and explanations for each query. Prepare thoroughly for your exam!

Multiple Choice

When deciding between a regression spline and local regression, which component must be considered for a regression spline but not for local regression?

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