Question
Suppose the PSU Economics Department hires you to be a research assistant for a project which aims to model how the spending habits of PSU
Suppose the PSU Economics Department hires you to be a research assistant for a project which aims to model how the spending habits of PSU students have changed due to switching to remote learning.You find that assuming that PSU students do not buy houses makes your model simpler without reducing the accuracy of its predictions.What should you do?
a.Make that assumption since the model is simpler and the predictions are just as good.
b.Make that assumption because it will reduce the amount of data you have to collect.
c.Do not make the assumption because some PSU students might have purchased homes and so the model will be wrong.
d.Do not make the assumption because using a more complicated model will impress the project supervisor and lead to a better evaluation.
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