forecasting:meeting_minutes_september_14_2020

Attended: Josh, Keola

  • Started Section 7 of the course: Multiple Linear Regression
  • Topics learned: Multiple Linear Regression intuition, understanding p-values, null and alternative hypothesis, statistical significance, backwards elimination, forward selection, implementation in python
  • COVID-19 forced today's lab hours to be online
  • P-values indicate the probability that your results would appear IF you were to take the null hypothesis to be true
  • Low p-value means we can reject the null hypothesis (no correlation) and accept the alternate hypothesis (correlation exists)
  • We use p-values to decide which independent variables (predictors) really matter when it comes to creating a prediction model for our data
  • In backwards elimination, we get rid of all of the highest p-value predictors until we are left with predictors who's p-values are small enough to be considered statistically significant.
  • In forward selection, we start with the lowest p-value predictors and make our way up until we hit our threshold of statistical significance.

Authors

Contributing authors:

jclaudio

Created by jclaudio on 2020/09/19 21:59.

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  • Last modified: 2021/09/19 21:59
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