Using the Wage data in the ISLR package,(1) Create quantile regression models based on age and other predictors. Discuss in details the predictors and any inference on it.(2) Discuss how you could...

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Using the Wage data in the ISLR package,

(1) Create quantile regression models based on age and other predictors. Discuss in details the predictors and any inference on it.

(2) Discuss how you could implement a method using quantile regression (with splines or interactions or.. ) to fit this data. Do you believe that this model would predict well? Why or why not? Briefly discuss with error metrics as well.

(3) What quantiles may you be interested in from a managerial perspective? AIC could be used to do model selection, so you can discuss multiple models you would fit, and why you would have interest.

Answered 1 days After Feb 20, 2023

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Mukesh answered on Feb 21 2023

29 Votes

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Using the Wage data in the ISLR package,(1) Create quantile regression models based on age and other predictors. Discuss in details the predictors and any inference on it.(2) Discuss how you could...

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