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qid 7063 · economics

Question: A parsimonious model is one that

  1. Includes too many variables
  2. Includes as few variables as possible to explain the data
  3. Is a well-specified model
  4. Is a mis-specified model

Our answer: B. Includes as few variables as possible to explain the data Source quote machine-checked (exact quote)

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How it was answered

Stored method, replayed by code (kind: formula)

card: formula · card sha256 f7481daf4811642f…

Current source

Statology, "What is a Parsimonious Model?"

https://www.statology.org/parsimonious-model/

“A parsimonious model is a model that achieves a desired level of goodness of fit using as few explanatory variables as possible.”

Source quote machine-checked (exact quote)

retrieved 2026-09-18T01:07:42.643Z

page text sha256 346a3d58ad1c33cd… · content sha256 5755abe911dcfaa8…

addendum formula_qid7063.formula_ADDENDUM_source_rs20260918T010742Z · sha256 f133443cc31b8877… · replaces the version below, addendum sha256 85779720fddec9cb…

Earlier version (superseded)

No public source has been found for this card yet (2 places checked internally).

addendum formula_qid7063.formula_ADDENDUM_source · sha256 85779720fddec9cb…

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