Question: Consider the following outputs based on fitting a weighted arithmetic mean (WAM) and a weighted power mean with p = -2 (PM) WAM RMSE0.1513 Average

Consider the following outputs based on fitting a weighted arithmetic mean (WAM) and a weighted power mean with p = -2 (PM)

WAM

RMSE0.1513

Average L1 error0.1307

Pearson correlation0.8372

Spearman correlation0.7541

i w_i

10.1266

20.3733

30.2085

40.2916

PM

RMSE0.1199

Average L1 error0.1249

Pearson correlation0.8356

Spearman correlation0.7174

i w_i

10.0769

20.3847

30.2308

40.3076

Which of the following could be stated about the data that was used for fitting, if we prefer minimising the gaps between the fitted value and true value? [Multiple answers could be selected]

Options:

  • Better fitting is achieved for functions where the output variable in the data tends toward the lower inputs.

  • Better fitting is achieved for functions where the output variable in the data does not tend toward the lower inputs.

  • The most influential/useful variable in predicting the output is x2

  • The highest input is allocated the most weight.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!