How can I evaluate goodness of fit for different probability distribution functions which I applied to a data set using dfttool?
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Along with the parameter values output by dfttool, a value for loglikelihood is displayed for every pdf applied to a particular data set. Does this in any way describe how best a pdf fits the data?
Please, getting a comprehensive answer to this question will very help in advancing my undergraduate final year project. Those answering should also note that I am not a statistics student, thus my knowledge of statistics is much limited.
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