I'm trying to understand the complete meaning of the acronym OVB. Could you please explain what it stands for and its significance, if any?
6 answers
CherryBlossom
Sun Nov 10 2024
In the realm of statistics, a phenomenon known as omitted-variable bias (OVB) can arise.
Rosalia
Sat Nov 09 2024
As a result, the model's conclusions may be misleading or incorrect.
Andrea
Sat Nov 09 2024
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SkyWalkerEcho
Sat Nov 09 2024
OVB occurs when a statistical model fails to incorporate one or more relevant variables.
GangnamGlitzGlamourGlory
Sat Nov 09 2024
This omission leads to inaccuracies in the model's predictions and interpretations.