3.5. Statistical Procedures for Model Building
In this section we review a number of procedures that can be used to build statistical models. The potential model builder will need to obtain a substantial toolbox since no one statistical tool will work on every set of data. As a corollary to the previous statement, the nature of data will help determine the appropriate statistical model-building tool. See Two Crows Corporation (1999) for a review of model building procedures used to extract predictive patterns in data.
3.5.1. Multiple Linear Regression
Multiple linear regression has certainly been the workhorse for building predictive models for many years. It is appropriate for the situation where there are many more observations than descriptors ...
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