Model Selection: Comparing Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC)
Introduction: The Art of Choosing the Right Map Imagine you’re a navigator setting out on an expedition across uncharted terrain. You have multiple maps in front of you — each beautifully drawn but slightly different in detail. Which one should you trust? In data modeling, statisticians face a similar dilemma: with several models explaining the same dataset, which one provides the most faithful representation without … Continue reading Model Selection: Comparing Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC)
