longley2

Data from the "Employment and Training Report of the President, 1976"
 compiled by Art Hoerl, University of Delaware. Some slightly different numerical
 values than those used by Longley(1967) ...plus the added years of 1963-1975.
 Longley(1967) used only data from the 16 years of 1947 through 1962.

datasets

Functions are provided to calculate and display ridge TRACE diagnostics for
a variety of shrinkage Paths. TRACEs identify the m-Extent of shrinkage most likely,
under Normal-theory, to produce optimally biased estimates of beta-coefficients with
minimum MSE Risk. The unr.ridge() function implements the "Unrestricted Path"
introduced in Obenchain (2020) <arXiv:2005.14291>. This Shrinkage-Path is more
efficient than the Paths used by the qm.ridge(), aug.lars() and uc.lars() functions.
Optimally biased predictions can be made using RXpredict() for all six types of
RXshrink linear model estimation methods. Functions MLboot(), MLcalc(), MLhist() and
MLtrue() provide insights into the true bias and MSE risk characteristics of non-linear
Shrinkage estimators. Functions unr.aug() and unr.biv() augment the calculations made
by unr.ridge() to provide plots of the bivariate confidence ellipses corresponding to
any of the p*(p-1) possible pairs of shrunken regression coefficients. The correct.signs()
function provides estimates with "correct" numerical signs when ill-conditioned (nearly
multicollinear) models yield OLS estimates that disagree with the signs of the observed
correlations between the y-outcome and the selected x-predictor variables.

Bob Obenchain

RXshrink

Maximum Likelihood Shrinkage using Generalized Ridge or Least
Angle Regression Methods

longley2 function

A data frame of 7 variables collected for 29 consecutive years; no NAs.<dl class="dl-horizontal">
 <dt>GNP.deflator</dt><dd>GNP price deflation index.</dd>
 <dt>Unemployed</dt><dd>Unemployment percentage.</dd>
 <dt>Armed.Forces</dt><dd>Size of the Armed Forces.</dd>
 <dt>Population</dt><dd>Total U.S. Population.</dd>
 <dt>Year</dt><dd>1947 to 1975.</dd>
 <dt>Employed</dt><dd>employment.</dd>
 <dt>GNP</dt><dd>Gross National Product.</dd>
 </dl>

Format

Art Hoerl's update of the infamous Longley(1967) benchmark dataset — longley2

A data frame of 7 variables collected for 29 consecutive years; no NAs.<dl class='dl-horizontal'>
 <dt>GNP.deflator</dt><dd>GNP price deflation index.</dd>
 <dt>Unemployed</dt><dd>Unemployment percentage.</dd>
 <dt>Armed.Forces</dt><dd>Size of the Armed Forces.</dd>
 <dt>Population</dt><dd>Total U.S. Population.</dd>
 <dt>Year</dt><dd>1947 to 1975.</dd>
 <dt>Employed</dt><dd>employment.</dd>
 <dt>GNP</dt><dd>Gross National Product.</dd>
 </dl>

longley2: Art Hoerl's update of the infamous Longley(1967) benchmark dataset

Description

Usage

Arguments

Format

References