Understanding the Pitfalls of Overfitting in Statistical Models

The residual approach measures the power of a model in explaining the variables of interest./nAdding more variables to a regression model can improve its fit to the data, but may not necessarily make it meaningful./nOverfitting can occur when a model is trained to fit specific historical examples, leading to poor performance on new data./nCare should be taken when adding variables to statistical models to avoid potential pitfalls.