BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Assessing the regression model on data other than the sample data that was used to generate the model is known as ____
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approximation
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cross-validation
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graphical validation
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postulation
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Explanation:
Detailed explanation-1: -So, rather than use k-fold cross-validation, for time series data we utilize hold-out cross-validation where a subset of the data (split temporally) is reserved for validating the model performance.
Detailed explanation-2: -Cross-validation is a technique for evaluating ML models by training several ML models on subsets of the available input data and evaluating them on the complementary subset of the data. Use cross-validation to detect overfitting, ie, failing to generalize a pattern.
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