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Beyond significance, what is one error to look for in regression models?

Beyond significance, what is one error to look for in regression models?

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Answer #1

One of the error we need to minimize is the difference between expected and observed values.

you have estimated a model then , the prediction from the model should be close to the actual values. to check the same, you can divide data in two parts test and train. Run your model on train data and check on test data.

Significance is to check the actually effect of a regressor

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