Question: Estimate the parameters in a model for the gasoline mileage data in Table B.3 using ridge regression. a. Use the ridge trace to select an

Estimate the parameters in a model for the gasoline mileage data in Table B.3 using ridge regression.

a. Use the ridge trace to select an appropriate value of k. Is the resulting model adequate?

b. How much infl ation in the residual sum of squares has resulted from the use of ridge regression?

c. How much reduction in R2 has resulted from the use of ridge regression?

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