This is a package that gives the estimates of Ridge and Liu parameters based on LTS method in multiple linear regression analysis. It can be also used to compare the biasing parameters obtained from Ridge regression, Ridge based on LTS method, Liu, and Liu based on LTS method. It measures the performance of the models according to MSE and extract the biasing parameter at minimum MSE. Additionally, it is possible to compare the MSE values of the four regression models on a plot.
ltsbase package has a main function called
ltsbase and also two other useful functions called
ltsbaseSummary. The function
ltsbase computes the minimum MSE values for Ordinary Least Squares, Ridge, Ridge based on LTS, LTS, Liu, Liu based on LTS method. The second function
ltsbaseDefault is used to get the fitted values and residuals of the corresponding model. The last function
ltsbaseSummary is used to get the regression coefficients and the biasing parameter for the best MSE among four regression models.
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