A Teaching Note for Model Selection and Validation

Authors

  • K. Muralidharan Department of Statistics, Faculty of Science The Maharajah Sayajirao University of Baroda, Vadodara 390 002, India

DOI:

https://doi.org/10.15415/mjis.2013.12012

Keywords:

Model Selection and Validation, Weibull and Gamma, Logistic

Abstract

The model selection problem is always crucial for any decision making in statistical research and management. Among the choice of many competing models, how to
decide the best is even more crucial for researchers. This small article is prepared as a teaching note for deciding an appropriate model for a real-life data set. We briefly
describe some of the existing methods of model selection. The best model from the two competing models is decided based on the comparison of the limited expected value
function (LEVF) or loss elimination ratio (LER). A data set is analyzed through MINITAB software.

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References

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Published

2013-03-04

How to Cite

K. Muralidharan. 2013. “A Teaching Note for Model Selection and Validation”. Mathematical Journal of Interdisciplinary Sciences 1 (2):55-62. https://doi.org/10.15415/mjis.2013.12012.

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Articles