Fig. 2.

Out-of-sample mean squared error in the first (left), second (centre) and third (right) scenarios. The filled circles indicate the medians from the ridge-like ($\alpha =0.05$) and lasso-like ($\alpha =0.95$) elastic net. (The boxes show the interquartile ranges, and the whiskers show the ranges from the $5\text{th}$ to the $95\text{th}$ percentiles)