Predict Insurance Charges using different Linear Regression Models and compare results.

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Predict Insurance Charges

Data set overview:


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How will you deal with unknown categories which were not part of your training set?

Example:


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What is Model Evaluation in machine learning?

  • Model Evaluation is the process to check how accurate or inaccurate our model is.
  • Scikit-learn library provides different types of evaluation metrics which we can use to check model performance.
  • We can implement our own evaluation metrics also based on our data set and domain requirement.

Common Regression Evaluation Metrics:

  1. Mean Absolute Error (MAE)
  2. Mean Squared Error (MSE)
  3. Root Mean Squared Error (RMSE)
  4. R-squared

1. Mean Absolute Error (MAE):

  • Used to check how inaccurate our model is.
  • MAE = Sum of absolute error/number of samples
  • Absolute Error = Absolute difference between actual and predicted data.
  • Below it shows predicted values from 2 different models and respective absolute errors. …


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Predict Traffic Accident Severity

Data:

About

Priyanka Dave

Data Science Enthusiast

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