TL;DR
This paper introduces a new generalized ridge-regression method with five visualization types, enhancing data analysis and confidence when fitting linear models to ill-conditioned datasets.
Contribution
It presents a novel p-parameter ridge-regression approach with five visualization types, implemented in the RXshrink R-package, for better analysis of ill-conditioned data.
Findings
Provides five types of ridge TRACE visualizations
Improves confidence in linear model fitting
Available in the RXshrink R-package
Abstract
We describe a new p-parameter generalized ridge-regression shrinkage-pattern recently implemented in the RXshrink CRAN R-package. The five distinct types of ridge TRACE displays discussed and illustrated here provide invaluable data-analytic insights and improved self-confidence to researchers and data scientists fitting linear models to ill-conditioned datasets.
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Taxonomy
TopicsAdvanced Statistical Methods and Models · Statistical Methods and Inference · Statistical and numerical algorithms