Modified Ridge Regression Estimator with the Application of Peanut Production in Pakistan
The main objective of the present study was to develop a new ridge regression estimator and fit the ridge regression model to the peanut production data of Pakistan. Peanut production data has been used to analyze the results. The data has been taken peanut production and growth rate of Pakistan. The mean square error of the proposed estimator is compared with some existing ridge regression estimators. In this study, we proposed a ridge regression estimator. The properties of proposed estimators are also discussed. The real data set of peanut production is used for assuming the performance of proposed and existing estimators. Numerical results of real data set show that proposed ridge regression estimator provides best results as compare to reviewed ones.
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