Table 3.
Validation of models on the validation sample, observed and predicted EQ-5D weights
| Model | Mean | SD | Min | Max | MAE | MSE | AE < 0.05 | AE < 0.10 |
|---|---|---|---|---|---|---|---|---|
| Observed (n = 272) |
0.599 |
0.364 |
−0.594 |
1.000 |
n/a |
n/a |
n/a |
n/a |
| OLS |
0.639 |
0.287 |
−0.293 |
0.902 |
0.167 |
0.056 |
21% |
44% |
| Tobit |
0.682 |
0.324 |
−0.328 |
1.000 |
0.173 |
0.061 |
20% |
45% |
| CLAD | 0.659 | 0.306 | −0.300 | 1.000 | 0.169 | 0.059 | 24% | 41% |
Note: SD standard deviation; MAE mean absolute error; MSE mean square error; AE absolute error; n/a not applicable; OLS ordinary least square; CLAD censored least absolute deviation.