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I am trying to estimate parameters of a regression function, where:

  • Independent Variables are continuous (and I might have up to 7 IVs)
  • Dependent Variable is rank

The twist is that the sample is very small (5 observations at most); however, I do have the possibility of sampling multiple times, each time for a max of 5 observations.

What would be good practices here, regarding:

  1. Number of distinct samples?
  2. How to treat the ranks (1 thru 5) after sampling, in order to ensure comparability across the sub-samples?
  3. Knowing that the regression function is linear, what would be the best regression type to use?
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