Public Policy Analysis
AIC, or Akaike Information Criterion, is a statistical measure used to compare different models for a dataset, helping to identify the best-fitting model by balancing model fit and complexity. The AIC value is calculated based on the likelihood of the model given the data and includes a penalty for the number of parameters, which helps prevent overfitting. It provides a way to evaluate how well a model explains the data while accounting for the number of predictors used.
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