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Model Diagnostics

In: Applied Linear Regression for Business Analytics with R

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  • Daniel P. McGibney

    (University of Miami)

Abstract

Knowing the correct mathematical model can be tremendously helpful when trying to make predictions. In many cases, however, a mathematical model that is relatively close to the true state may suffice. Yet this process brings its challenges. The quote from Mark Twain shown above alludes to the difficulty of attempting to find a mathematical model that is acceptable enough.

Suggested Citation

  • Daniel P. McGibney, 2023. "Model Diagnostics," International Series in Operations Research & Management Science, in: Applied Linear Regression for Business Analytics with R, chapter 0, pages 179-219, Springer.
  • Handle: RePEc:spr:isochp:978-3-031-21480-6_8
    DOI: 10.1007/978-3-031-21480-6_8
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