Update Assessing Model Goodness of Fit to the Data authored by Mortaheb Sepehr's avatar Mortaheb Sepehr
...@@ -37,3 +37,7 @@ Information criteria can be used for both nested and non-nested models. Here we ...@@ -37,3 +37,7 @@ Information criteria can be used for both nested and non-nested models. Here we
<img src="https://latex.codecogs.com/svg.latex?AIC&space;=&space;-2ln(L(M_1))&plus;2Q&space;\\&space;\\&space;\indent&space;BIC&space;=&space;-2ln(L(M_1))&plus;Qln(N)" title="AIC = -2ln(L(M_1))+2Q \\ \\ \indent BIC = -2ln(L(M_1))+Qln(N)" /> <img src="https://latex.codecogs.com/svg.latex?AIC&space;=&space;-2ln(L(M_1))&plus;2Q&space;\\&space;\\&space;\indent&space;BIC&space;=&space;-2ln(L(M_1))&plus;Qln(N)" title="AIC = -2ln(L(M_1))+2Q \\ \\ \indent BIC = -2ln(L(M_1))+Qln(N)" />
where Q equals the number of parameters in the model and N is the sample size. **Smaller values of AIC and BIC indicate better models.** where Q equals the number of parameters in the model and N is the sample size. **Smaller values of AIC and BIC indicate better models.**
**Important:** When using AIC and BIC to compare models, the same dataset should be used for both models. This becomes relevant when some cases are excluded from a model due to missing values on some of the variables.
### 4. Local Measures of Fit
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