Understanding regression problems with examples
Figuring out the price of a stock, what your house should be worth, and the future temperature of the Earth all have one thing in common: they all can be thought of as regression problems. It's simply the goal of figuring out what a number would be, given a set of independent variables.
A few more examples that fall into this problem type are as follows:
- Price of a car
- Sales forecast for next year
- Number of people who will sign up for a promotion
When you see a problem like this, you can try a few different models. There are many specific algorithms that you can use, each with its own pros and cons. Let's look at a few of these algorithms in the next section.
The following are a few of the most common regression algorithms you'll want to try. For each of these algorithms, we're going to take an example and create a regression model:
- Linear regression
- Random forest
- Support...
