Ridge TRACE display below shows how fitted regression coefficients for the infamous Longley(1967) dataset change due to shrinkage along a Q-shape = -1.5 path through 6-dimensional Coefficient (likelihood) Space.
To apply (2-parameter, restricted) Ridge Regression Shrinkage, the two key questions that a regression practitioner must address are:
softRX freeware is proud to provide the qm.ridge() R-function (Package: RXshrink) as well as software for several other systems to guide you along your GRR Shrinkage "journey" Our freeware provides powerful, Maximum Likelihood statistical inferences and dynamic Xlisp-Stat graphical insights along the "PATH" of your choice!