Table 3.
All models – model fitting performance based on the full dataset
| Model | Fitting performance parameters | Model rank | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MAE | MSE | R2 | AIC | BIC | MAE | MSE | R2 | AIC | BIC | |
| OLS regression | 0.13735 | 0.03535 | 0.30212 | −9017.1 | −8853.4 | 4 | 3 | 3 | 3 | 3 |
| CLAD | 0.13434 | 0.03686 | 0.27316 | – | – | 1 | 4 | 4 | – | – |
| Gamma-log GLM | 0.13573 | 0.03534 | 0.30309 | −14,408.1 | −14,244.4 | 3 | 2 | 2 | 2 | 2 |
| ALDVMM3 components | 0.13591 | 0.034691 | 0.31982 | −16,107.2 | −15,304.2 | 2 | 1 | 1 | 1 | 1 |
AIC Akaike information criterion, ALDVMM adjusted limited dependent variable mixture model, BIC Bayesian information criterion, CLAD censored least absolute deviation, GLM generalised linear model, MAE mean absolute error, MSE mean-squared error, OLS ordinary least squares, R2 coefficient of determination