How Good is a Model? How much information does AIC give us? –Model 1: 3124 –Model 2: 2932 –Model 3: 2968 –Model 4: 3204 –Model 5: 5436.

Slides:



Advertisements
Similar presentations
Lecture 17: Tues., March 16 Inference for simple linear regression (Ch ) R2 statistic (Ch ) Association is not causation (Ch ) Next.
Advertisements

Computational Statistics. Basic ideas  Predict values that are hard to measure irl, by using co-variables (other properties from the same measurement.
Forecasting Using the Simple Linear Regression Model and Correlation
Stat 112: Lecture 7 Notes Homework 2: Due next Thursday The Multiple Linear Regression model (Chapter 4.1) Inferences from multiple regression analysis.
Copyright © 2009 Pearson Education, Inc. Chapter 29 Multiple Regression.
Inference for Regression
Regression Analysis Module 3. Regression Regression is the attempt to explain the variation in a dependent variable using the variation in independent.
Regression Analysis Once a linear relationship is defined, the independent variable can be used to forecast the dependent variable. Y ^ = bo + bX bo is.
Ch11 Curve Fitting Dr. Deshi Ye
Robert Plant != Richard Plant. Sample Data Response, covariates Predictors Remotely sensed Build Model Uncertainty Maps Covariates Direct or Remotely.
Objectives (BPS chapter 24)
Regression Analysis. Unscheduled Maintenance Issue: l 36 flight squadrons l Each experiences unscheduled maintenance actions (UMAs) l UMAs costs $1000.
Chapter Topics Types of Regression Models
Analysis of Simulation Input.. Simulation Machine n Simulation can be considered as an Engine with input and output as follows: Simulation Engine Input.
Lecture 16 – Thurs, Oct. 30 Inference for Regression (Sections ): –Hypothesis Tests and Confidence Intervals for Intercept and Slope –Confidence.
Simple Linear Regression Analysis
Stat 322 – Day 29. HW 8 See updated version online  Delete question 6 Please always define parameters, state hypotheses and comment on technical conditions,
Quantitative Business Analysis for Decision Making Simple Linear Regression.
Lecture 19 Simple linear regression (Review, 18.5, 18.8)
Short Term Load Forecasting with Expert Fuzzy-Logic System
Correlation and Regression Analysis
Forecasting Revenue: An Example of Regression Model Building Setting: Possibly a large set of predictor variables used to predict future quarterly revenues.
Review of normal distribution. Exercise Solution.
Inference for regression - Simple linear regression
Simple Linear Regression Models
Quantitative Skills: Data Analysis
Population All members of a set which have a given characteristic. Population Data Data associated with a certain population. Population Parameter A measure.
© 1998, Geoff Kuenning Linear Regression Models What is a (good) model? Estimating model parameters Allocating variation Confidence intervals for regressions.
Review of Statistical Models and Linear Regression Concepts STAT E-150 Statistical Methods.
Topic 14: Inference in Multiple Regression. Outline Review multiple linear regression Inference of regression coefficients –Application to book example.
Inference for Regression Simple Linear Regression IPS Chapter 10.1 © 2009 W.H. Freeman and Company.
Chapter 14: Inference about the Model. Confidence Intervals for the Regression Slope (p. 788) If we repeated our sampling and computed another model,
Why Model? Make predictions or forecasts where we don’t have data.
Statistics PSY302 Quiz One Spring A _____ places an individual into one of several groups or categories. (p. 4) a. normal curve b. spread c.
Research Seminars in IT in Education (MIT6003) Quantitative Educational Research Design 2 Dr Jacky Pow.
Goodness-of-Fit Chi-Square Test: 1- Select intervals, k=number of intervals 2- Count number of observations in each interval O i 3- Guess the fitted distribution.
Selecting Input Probability Distribution. Simulation Machine Simulation can be considered as an Engine with input and output as follows: Simulation Engine.
Summarizing Risk Analysis Results To quantify the risk of an output variable, 3 properties must be estimated: A measure of central tendency (e.g. µ ) A.
MEASURES OF DISPERSION 1 Lecture 4. 2 Objectives Explain the importance of measures of dispersion. Compute and interpret the range, the mean deviation,
Uncertainty “God does not play dice” –Einstein “the end of certainty” –Prigogine, 1977 Nobel Prize What remains is: –Quantifiable probability with uncertainty.
Linear Regression Models Andy Wang CIS Computer Systems Performance Analysis.
STATISTICS Chapter 2 and and 2.2: Review of Basic Statistics Topics covered today:  Mean, Median, Mode  5 number summary and box plot  Interquartile.
Linear model. a type of regression analyses statistical method – both the response variable (Y) and the explanatory variable (X) are continuous variables.
Outline Sampling Measurement Descriptive Statistics:
23. Inference for regression
The simple linear regression model and parameter estimation
Chapter 14 Introduction to Multiple Regression
Inference for Least Squares Lines
Robert Plant != Richard Plant
Inference for Regression (Chapter 14) A.P. Stats Review Topic #3
Review 1. Describing variables.
(5) Notes on the Least Squares Estimate
Statistics for Managers using Microsoft Excel 3rd Edition
Inference for Regression
How Good is a Model? How much information does AIC give us?
Special Topics In Scientific Computing
Linear Regression Models
The Practice of Statistics in the Life Sciences Fourth Edition
Inference for Regression Lines
CHAPTER 29: Multiple Regression*
Interval Estimation.
Direct or Remotely sensed
Regression Computer Print Out
6-1 Introduction To Empirical Models
Uncertainty “God does not play dice”
Model generalization Brief summary of methods
Statistics PSY302 Review Quiz One Spring 2017
Advanced Algebra Unit 1 Vocabulary
MGS 3100 Business Analysis Regression Feb 18, 2016
Presentation transcript:

How Good is a Model? How much information does AIC give us? –Model 1: 3124 –Model 2: 2932 –Model 3: 2968 –Model 4: 3204 –Model 5: 5436

What do we need? What is the purpose of our model? Who will use it or it’s outputs? How will we explain the results and how they should be interpreted and used? Is AIC good enough?

How Good is the Model? Does it make sense to you and experts in the topic? Do the predictions make sense? Does it hold up to validation? –Is it overly sensitive? –Is the uncertainty acceptable?

Does the Model fit the Data? Plots of the model vs. the data Histograms Goodness of Fit Tests –RMSE/RMSD

Histograms

Residual Statistics Residual: –Mean – 0? –Min – how much lower than the model might a sample be? –Max – how much higher than the model might a sample be? –Standard Deviation – what is the “spread of the errors” –Do these describe the full range of sample values?

Root Mean Squared Error

How Good is a Model? Can Compute: –AIC, BIC Also: –Number of parameters –Likelihood Response curves with sample data –Confidence intervals Residual histograms with: –Min, max, mean, standard deviation

Sample Data Response, covariates Predictors Remotely sensed Build Model Uncertainty Maps Covariates Direct or Remotely sensed Training Data Test Data Predictive Map The Model Statistics Qualify, Prep Qualify, Prep Qualify, Prep Predict Summarize Predicted Values Validate Randomness Inputs Outputs Repeated Over and Over Field Data Response, coordinates Processes Temp Data Random split? May be the same data

General Approach Create the “default” model Validate it by: –Splitting into test and training data sets –Train (fit) the model on the training data Inject error into response and covariants –Validate the model against the test data Inject error into coefficients –Create Maps –Collect statistics: AIC, residuals, etc. –Repeat validation Summarize statistics