Classification methods
If the response variable is qualitative/categorical (takes on categorical values such as gender, loan default, marital status, and such), then the problem can be called a classification problem regardless of the explanatory variables' type. There are various types of classification methods, but we will focus on logistic regression and Support Vector Machines in this section.
Following are a few examples of some implications of classification methods:
- A customer buys a product or does not buy it
- A person is diabetic or not diabetic
- An individual applying for a loan would default or not
- An e-mail receiver would read the e-mail or not
Logistic regression
Logistic regression measures the relation between the explanatory variables and ...
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