Models with few predi - Study guides, Class notes & Summaries

What are three problems that variable selection tries to minimize? - ANSWER-high dimensionality, multicollinearity, prediction vs explanatory high dimensionality - ANSWER-In linear regression, when the number of predicting variables P is large, we might get better predictions by omitting some of the predicting variables. Models with many predictors have... - ANSWER-low bias, high variance Models with few predictors have... - ANSWER-high bias but low variance prediction risk - ANSWER-...