Special Topics: Lab 11

Week 11 of Special Topics continued the topic of statistics and regression.  The topic this week taught how to find the best model performance.  Using the Ordinary Least Squares tool, The tool generate results using one or multiple variables.  The results state the coefficients, p values, VIF, and Jarque-Ber.

In order to determine if the selected variables are correct, more are needed, or some should be removed, The a few of the checks are if the independent variables are helping, what are the relationships, and are the variables redundant.  A few other checks look at if the model is biased, if all the needed variables are used, and how well the variables explain the dependent variable.

The lab this week required using the OLS tool along with the Exploratory Regression tool.  The Exploratory Regression tool produces results of whether models pass and goes through all the various options.  The results also use the Adjusted R Square and Akaike's Information.  These numbers can be used to determine fit and explains variation.