PRESS (prediction sum of squares) tells you how well the model will predict
new data.
Usage
ols_press(model)
Arguments
model
An object of class lm.
Value
Predicted sum of squares of the model.
Details
The prediction sum of squares (PRESS) is the sum of squares of the prediction
error. Each fitted to obtain the predicted value for the ith observation. Use
PRESS to assess your model's predictive ability. Usually, the smaller the
PRESS value, the better the model's predictive ability.
References
Kutner, MH, Nachtscheim CJ, Neter J and Li W., 2004, Applied Linear Statistical Models (5th edition).
Chicago, IL., McGraw Hill/Irwin.