Quantile Regression as The Most Useful Alternative for Ordinary Linear Regression
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- Äas pĆidĂĄn 7. 09. 2024
- Quantile Regression is The Most Useful Alternative for Ordinary Linear Regression, because it:
- is robust to outliers and influential points
- does not assume a constant variance (known as homoskedasticity) for the response variable or the residuals
- does not assume normality
- but the main advantage of QR over linear regression (LR) is that QR explores different values of the response variable, instead of only the average, and delivers therefore a more complete picture of the relationships between variables.
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