BIC is Bayesian information criterion, it replaced the $+2k$ term in with $k\ln n$ to bring in punishment for the number of parameters of the model based on the number of data records,

$$\mathrm{BIC} = -2\ln p(y|\hat\theta) + k\ln n = \ln \left(\frac{n^k}{p^2}\right)$$

• $n$ is the observations.

We prefer the model with a small BIC.

Planted: by ;