On a Problem of Fixing the Level of Independent Variables in a Linear Regression Function - Softcover

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9781333591830: On a Problem of Fixing the Level of Independent Variables in a Linear Regression Function

Synopsis

This book delves into the often intricate nature of fixing a parameter within a linear regression model. The author takes a deep dive into techniques like minimizing the mean square error to most effectively select a control parameter. As the book progresses, readers will also explore the concept of fixing the level of independent variables to land as close as possible to a prescribed level, a concept often utilized in industrial and business scenarios. Through a blend of non-Bayesian and Bayesian approaches, the author provides readers with a comprehensive understanding of a range of solutions, including Asymptotically Best Consistent (ABC) functions and Asymptotically Efficient (AB) functions. This book is a valuable resource for statisticians, economists, and data scientists, providing insights that drive better decision-making in a variety of fields.

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