The least-squares criterion is a method of measuring the accuracy of a line in depicting the data that was used to generate it. That is, the formula determines the line of best fit.

To define a likelihood we have to specify the form of distribution of the observations, but to define a quasi-likelihood function we need only specify a relation between the mean and variance of the ...

The well-established forecasting methods of exponential smoothing rely on the “optimal” estimation of parameters if they are to perform well. A grid search procedure to minimise the MSE is often used ...