Parsimonious regression model

Sarah

New Member
#1
Hi, I am trying to finish an assignment and I am stumped on one question. It is asking me to build a valid parsimonious regression model. What do they exactly mean by parsimonious? and how do I build one of these models. Please help! regards Sarah
 
#2
Parsimonious means "mean" or "tight-fisted" normally, but in statistics it refers to simplicity. Therefore a Parsimonious model refers to the "simplest plausible model with the fewest possible number of variables".

So I guess that a "parsimonious regression model" would be any type of simple linear regression e.g. a regression line for two variables which is straight line passing through the graphs origin (see: http://www.isixsigma.com/dictionary/Simple_Linear_Regression-332.htm and related pages).

That's what I think anyway, but don't quote me on this!

I hope this is some help,

Danny76