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The data set LifeCycleSavings has information about the rate of personal savings in different countries during the 1960s. The data set comes with R. Read
The data set LifeCycleSavings has information about the rate of personal savings in different countries during the 1960s. The data set comes with R. Read help(LifeCycleSavings) for information about what the columns in the data set are. Answer questions 2 and 3 using this dataset. 2. Out-of-sample validation. a) Create a linear regression model to predict the savings rate using the four other variables. b) Print out a summary of the model c) Perform 10-fold cross validation on the model using the CVlm function in the DAAG library. d) Use the result of the cross-validation to estimate the RMSE for the model. How does the RMSE compare to the standard error for this model? 3. Which variable has the largest effect on a country's savings rate for a typical change in that variable
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