all-possible-subsets regression

a method for predicting an outcome variable based on a series of equations formed by all possible subsets of predictors from a finite pool of predictors. The “best” subset is identified using criteria established by the researcher, such as the value of Akaike’s information criterion or of the coefficient of multiple determination. Also called all-possible-subsets multiple regression; setwise regression.

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Psychology term of the day

May 9th 2024

best fit

the theoretical pattern that best accounts for the relationships among variables in a data set. For example, a regression equation having the best fit to sample data is the one that minimizes differences between observed and predicted values. On a scatterplot, a line of best fit provides a visual depiction of this pattern, allowing extrapolation to values not part of the original data set. It is important to note that the best-fitting pattern is not necessarily the one that generated the observed data, as other patterns not considered may provide a superior fit.