Correct Modelling

By | March 3, 2021

Start with a simple model and expand it !

  • Significance coefficient
  • Simpler model is of more practical use than a complex model unless the complex model gives significantly better results.
  • Log Likelihood ratio test : only applied with different degree of freedom.

AIC : Akaika information coefficient

BIC : Bayesian Information coefficient

opt for the model with less AIC and BIC coefficents

  • Residuals follow normal distribution with mean 0
  • If comparing two models go for the model with higher Log likelihood and lower IC.

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