Description Usage Arguments Details References
View source: R/betapr_predict.R
betapr_flexpredict returns the conditional mean E(Y|X) of a model fitted via the function betapr_flexfit; where α has been specified to be a function of covariates the required value should be specified using the ‘features’ parameter. betapr_flexpredict also allows for the correlation of estimated parameters via the Cholesky decomposition of the variance-covariance matrix.
1 | betapr_flexpredict(model, features, draws = 5)
|
model |
An object of class "mle2" produced using the function betapr_flexfit. |
features |
A numeric vector specifying the value of covriates at which the conditional mean should be evaluated; the covariates in the vector should appear in the same order as they do in the model. Where a model does not depend on covariates the argument may be left blank. |
draws |
The number of random draws from multivariate random normal representing correlated parameters. If parameter correlation is not required draws should be set to zero. |
This function uses the two parameter parametrization of the Beta Prime distribution is used in Johnson and Kotz (1995). The tow parameter distribution ins a special case of the three parameter distribution, with σ = 1. The probability probability density function is used is:
f(y) = [y^α-1 (1+y)^-(α+β)]/Β(α,β)
The function returns:
E(Y|X) = α/(β-1)
α may be a function of covariates; in which case, the cannonical log link function is used.
Johnson, N.L., Kotz, S., Balakrishnan, N. (1995). Continuous Univariate Distributions, Volume 2 (2nd Edition), Wiley.
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