A. Suppose you have fit two different models to predict the salary of a worker in...
A. Suppose you have fit two different models to predict the salary of a worker in the U.S. Model 1 has an R2 of 90% and the residual plot shows a trend. The other diagnostic plots look good. Model 2 has an R2 of 60% and all of the diagnostic plots look good. Which model should you use?
a) Model 1
b) Model 2
B. Explain your choice
Homework Answers
Answer
(A) model 2 is good
(B) It is clear that the R squared value for model 1 is higher than model 2, but the residual plot for model 1 is trending whereas the residual plot for model 2 is normal. So, this shows that the model 2 is more efficient and helpful in predicting the salary of a worker in the US. Model 1 is showing that 90% of the variation in salary of a worker in US can be predicted by the model, but the trending residual chart is not good for making prediction.
So, model 2 good.
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and
steps
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