Quick examples of loo() interpretation

[avehtari]

I add link to CV-FAQ which has more about the interpretation.

@di4oi4

Example 1 : m2 is better since elpd_diff is >3 times higher compared to se_diff? Or the difference is insignificant due to so small numbers?

The difference is insignificant due to the small numbers.

@di4oi4

Example 2 : m2 is worse as elpd_diff is >3 times higher compared to se_diff

Yes.

@di4oi4

Example 3 : models are equal as elpd_diff is not 3-5 times larger compared to se_diff? But what about so large se_diff?

Likely to have model mis-specification. Do posterior predictive checking.