MODEL QUALITY

Question 1

Akaike information criterion

AIC

Answer 1

Model selection technique that trades off between model fit and model complexity. When comparing models, the model with lower AIC is preferred. Generally penalizes complexity less than BIC.

Question 2

Bayesian Information criterion

BIC

Answer 2

Model selection technique that trades off model fit and model complexity. When comparing models, the model with lower BIC is preferred. Generally penalizes complexity more than AIC.

Question 3

Corrected AIC

Answer 3

Improved version of AIC, especially when sample size is small.

Question 4

Hypothesis test

Answer 4

Statistical test to determine the probability that a property of a sample of data is true for the whole population.