Contents
Why should you compare results with others?
Publishing results of research projects in peer-reviewed journals enables the scientific and medical community to evaluate the findings themselves. It also provides instructions so that other researchers can repeat the experiment or build on it to verify and confirm the results.
What is the relationship or evidence between a hypothesis and prediction?
The hypothesis is nothing but a tentative supposition which can be tested by scientific methods. On the contrary, the prediction is a sort of declaration made in advance on what is expected to happen next, in the sequence of events. While the hypothesis is an intelligent guess, the prediction is a wild guess.
Which is the best way to compare models?
(Actually, if one model is best on one measure and another is best on another measure, they are probably pretty similar in terms of their average errors. In such cases you probably should give more weight to some of the other criteria for comparing models–e.g., simplicity, intuitive reasonableness, etc.)
When is it good to compare two regression models?
If one model is best on one measure and another is best on another measure, they are probably pretty similar in terms of their average errors. In such cases you probably should give more weight to some of the other criteria for comparing models–e.g., simplicity, intuitive reasonableness, etc.
How are forecasts converted to the same units?
This means converting the forecasts of one model to the same units as those of the other by unlogging or undeflating (or whatever), then subtracting those forecasts from actual values to obtain errors in comparable units, then computing statistics of those errors.
How to compare models using the same dependent variable?
When comparing regression models that use the same dependent variable and the same estimation period, the root-mean-squared-error goes down as adjusted R-squared goes up. Hence, the model with the highest adjusted R-squared will have the lowest root mean squared error, and you can just as well use adjusted R-squared as a guide.