Topic: Assignment task 3
The assignment is 2 case studies
1- Planning diet for the food
2- Diamonds are forever
I’ll upload both in my account.
the way how you solve these ceases and how you find the optimal solution should be written in details
PS : would like to point your attention towards the fact that the formulation of the Mathematical Model underlying the solution to the question 1 (“Find the weekly diet that…”) is mandatory.
idea to help you solve case study 2 :
1-Start by including a low number of independent variables into your model and then proceed by increasing level of complexity gradually increasing the number of decision variables you introduce into your model);
2. At each step, compare the R square and Adjusted R square values of your resulting models.
3. Again, remember about the principle of parsimony (all other factors held equal, a better model is the one with fewer independent variables). Having said this Adjust R square should still be your leading indicator.
4. If several instances of a new level of complexity (say, the combination of three independent variables) does not produce a better Adjusted R square value, when compared to the best result acquired at a lower level of complexity, then you may arrive at a conclusion that there is no point proceeding with adding new independent variables to the model.
This is where your search for the best fitted model will stop. To reiterate, you certainly should not try all possible combinations of the six decision variables, but instead you should start by considering a lower number of decision variables first and then progress towards increasing the complexity of your tentative regression models, continuously checking and updating your Adjusted R Square values.