Elastic Net L2 Penalty Specify the value for the λ 2 penalty used to penalize the L2 term in the Elastic Net method. To Specify the Elastic Net L2 Penalty: Choose Elastic Net as the Model Selection Method . Either enter the desired value in the text field or move the slider to the right or to the left to change the value. Tip : To change the scale of the slider, right-click on the slider and select Rescale Slider from the pop-up menu. Change the upper or lower boundaries in the window that appears, to rescale the slider and click OK .