I have the following equation that is to be estimated:
y = a + bA + cB + dC + eF + dG + e
and i got 2 other additional variables, fH and gI, that i do not wish to add in.. can i reason this out by saying i want to 'avoid fitting the data model'? or else, what should i say?....
the idea is to avoid having too much variables in the regression model, but i cant find a better word to say mathematically for my thesis write up.
thanks.
Since I'm a couple years late, I don't think this will be of much use the OP, but hopefully will serve as a reference for others stumbling upon this post.
You are trying to cite one of the two main goals of regression. The first is accuracy: the model needs to fit the data well. The second is simplicity: the model should be as simple as possible without sacrificing too much accuracy. The goal of model/variable selection is picking those variables that increase the model's accuracy but do not make the model overly complicated.