Tech Notes

My notes on Statistics, Big Data, Cloud Computing, Cyber Security

Tag Archives: models

What is Statistical Learning

Example : If we determine that there is an association between advertising and sales, then we can adjust advertising budgets, thereby indirectly increasing sales. In other words, our goal is to develop an accurate model that can be used to predict sales on the basis of the three media budgets (TV, Newspaper, Radio)

So we try to model relationship between Y (output variable – sales) and X = (X1,X2, . . .,Xp) (predictor / input variables) , which can be written in the very general form Y = f(X) + ε where ε is the error term and f is some fixed but unknown function of X1, . . . , Xp Read more of this post