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  • Question) : The Chapter Makes A Distinction Between Using Multiple Linear Regression Analysis For

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    Both explanatory and predictive models are used to fit data to a model and estimate coefficients, but the goal of the analysis determines which type of model is appropriate. While a high R-squared value means a model can explain variance in the dependent variable, a good predictive model can have a looser fit to the original data and a good explanatory model may have lower predictive accuracy. It is important to understand whether explanation or prediction is the goal before developing the model.

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    CSC550_Week 5 Assignment

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    Both explanatory and predictive models are used to fit data to a model and estimate coefficients, but the goal of the analysis determines which type of model is appropriate. While a high R-squared value means a model can explain variance in the dependent variable, a good predictive model can have a looser fit to the original data and a good explanatory model may have lower predictive accuracy. It is important to understand whether explanation or prediction is the goal before developing the model.

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    19 views1 page

    Question) : The Chapter Makes A Distinction Between Using Multiple Linear Regression Analysis For

    Uploaded by

    kishore_leo
    Both explanatory and predictive models are used to fit data to a model and estimate coefficients, but the goal of the analysis determines which type of model is appropriate. While a high R-squared value means a model can explain variance in the dependent variable, a good predictive model can have a looser fit to the original data and a good explanatory model may have lower predictive accuracy. It is important to understand whether explanation or prediction is the goal before developing the model.

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    Question): The chapter makes a distinction between using multiple linear regression analysis for explanation versus prediction.

    Why is this important? If a set of independent variables can explain (account for) most of the variance of the dependent (target) variable (i.e. the value of R squared is high), isnt the resulting model going to be a successful predictor? Solution): According to the Data mining for business Intelligence, both explanatory and prediction models are used to fit a model (i.e.) to estimate coefficients, checking model validity, assessing its performance. The reason it is extremely important to know the goal of the analysis before beginning the modeling process. A good predictive model can have a looser fit to data on which it is based, and a good explanatory model can have low prediction accuracy. Yes the model going to be a successful predictor because the higher the R squared value mean, the more of the variance is covered by the regression model. Reference: Shmueli, G., Patel, N. R., & Bruce, P. C. (2010). Data Mining for Business Intelligence. Arlington, VA: John Wiley & Sons.

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