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Goodness of fit basics

Can the model do a good job explaining the data? In other words, how is the "goodness of fit"?

"Goodness of fit" describes how well the model fits a set of observations. Measures of "goodness of fit" typically summarize the discrepancy between observed values and the values estimated by the model. Common measures include the maximum likelihood and information criteria.

Which of the following statements is incorrect?

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GARCH Models in Python

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