COMPUTER SCIENCE AND ENGINEERING
MACHINE LEARNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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out-of-sample, in-sample
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in-sample, out-of-sample
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time series sample, test sample
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training sample, out-of-range sample
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Detailed explanation-1: -if you use data 1990-2013 to fit the model and then you forecast for 2011-2013, it’s in-sample forecast. but if you only use 1990-2010 for fitting the model and then you forecast 2011-2013, then its out-of-sample forecast.
Detailed explanation-2: -In statistical modeling, the term “in-sample” refers to data that is used to fit or train a model. On the other hand, “out-of-sample” data refers to data that is held back from the model training process and used to evaluate the performance of the model.
Detailed explanation-3: -Predictive analytics uses historical data to predict future events. Typically, historical data is used to build a mathematical model that captures important trends. That predictive model is then used on current data to predict what will happen next, or to suggest actions to take for optimal outcomes.