Hello everyone! I am new in statistic and have an issue with loo package usage.
Particularly, after model implementation in stan, I wanted to use loo package to check
the predictive performance of my model.
the problem is estimated elpd and lpd are very large, for example, elpd is -19708 with
248.5 standard error.
Does it mean that model is not accurate or I can use this model?
all k-pareto values are good less than 0.5
Thanks in advance