Returns and lists the minimum MSE value, the biasing parameter obtained at that minimum MSE value and extract the coefficients of the corresponding regression model given in object.
This is a package that gives the estimates of Ridge and Liu parameters based on LTS method in multiple linear regression analysis. It can be also used to compare the biasing parameters obtained from Ridge regression, Ridge based on LTS method, Liu, and Liu based on LTS method. It measures the performance of the models according to MSE and extract the biasing parameter at minimum MSE. Additionally, it is possible to compare the MSE values of the four regression models on a plot.
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