I'm building a multilevel model from a sample of 820 observations at level 1 and 11 groups (level 2). I'm using stata xtmixed.
Running the empty model (including just the dependent variable) I get:
- variance at level 1 (residual) = 0.6
- variance at level 2 (_cons): 0.03
- So the Intraclass correlation coefficient is 5%
- AIC: 1860
- BIC: 1875
Are my absolute values of variance too small? Too close to zero? Is there a recommended threshold given the sample size? From my previous question I learnt that having a very low ICC is ok.
Are AIC or BIC values too high, considering the sample size and the variance values? I mean, is there a rule that given around 800 observations tells me which should be an appropriate starting value for AIC/BIC?