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Canonical Analysis And Predictor Selection
Abstract:
This paper addresses theoretical and practical issues in the use of canonical analysis for prediction. A major objection to canonical prediction has been that the variates that are predicted are of low utility and do not reflect practical concerns. This problem may be overcome by a stepwise approach to the selection of predictor variables such that those predictors which predict the desired criterion are retained. In addition, canonical analysis may provide a solution to the problem of multidimensional criteria.
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