Description Usage Arguments Details Value Author(s)
This function computes the Bayesian Information Criterion of a model.
1 | BIC(res)
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res |
An object of class |
The Bayesian information criterion (BIC) is a criterion for model selection among a class of parametric models with different numbers of parameters. BIC value is computed through the formula -2 log(L)+klog(n) where L is the maximized value of the likelihood function for the estimated model, k is the number of terms of the markov chain, i.e. the number of free parameters to be estimated (if the estimated model is a linear regression, k is the number of regressors, including the constant) and n is the sample size. If several models are runned, you can compare them by using the BIC criterion. The lower the BIC value, the better the model fit.
The value returned is the BIC value.
Raquel Iniesta riniesta@pssjd.org
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