BIC: Bayesian Information Criterion

Description Usage Arguments Details Value Author(s)

Description

This function computes the Bayesian Information Criterion of a model.

Usage

1
BIC(res)

Arguments

res

An object of class reg returned by the function bayhapReg.

Details

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.

Value

The value returned is the BIC value.

Author(s)

Raquel Iniesta riniesta@pssjd.org


BayHap documentation built on May 2, 2019, 12:44 a.m.