Hi guys, I am running Ridge regression on a dataset (predicted variable = y; GDP, HPA and FX are regressors). I found that lm.ridge() can perform the ridge regression given any value of lambda (i.e. the ridge parameter). However, in order to choose the best results, I need to select the model output corresponding to that lambda which optimizes some logically defined GCV criteria. I thought there would be some in-built funcion in R Studio for this, but could not find one. Also, I am not being able to write the required code for this. Any help here will be appreciated. I have attached the data in case it is required.
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