Selecting smoothing parameters
I have a large number of datasets where the abscissa is date/time and the ordinate is some response variable. I want to show variation over time as a smooth curve. I generally adjust the choice of fit type and the fit parameters (e.g. lambda) interactively until I get a smoothed curve that subjectively seems informative or a good fit to me.But it's wholly subjective. Have statisticians thought thr...