Book Image

Data Science Using Python and R

By : Chantal D. Larose, Daniel T. Larose
Book Image

Data Science Using Python and R

By: Chantal D. Larose, Daniel T. Larose

Overview of this book

Data science is hot. Bloomberg named a data scientist as the ‘hottest job in America’. Python and R are the top two open-source data science tools using which you can produce hands-on solutions to real-world business problems, using state-of-the-art techniques. Each chapter in the book presents step-by-step instructions and walkthroughs for solving data science problems using Python and R. You’ll learn how to prepare data, perform exploratory data analysis, and prepare to model the data. As you progress, you’ll explore what are decision trees and how to use them. You’ll also learn about model evaluation, misclassification costs, naïve Bayes classification, and neural networks. The later chapters provide comprehensive information about clustering, regression modeling, dimension reduction, and association rules mining. The book also throws light on exciting new topics, such as random forests and general linear models. The book emphasizes data-driven error costs to enhance profitability, which avoids the common pitfalls that may cost a company millions of dollars. By the end of this book, you’ll have enough knowledge and confidence to start providing solutions to data science problems using R and Python.
Table of Contents (20 chapters)
Free Chapter
1
ABOUT THE AUTHORS
17
INDEX
18
END USER LICENSE AGREEMENT

11.8 BASELINE MODELS FOR REGRESSION

The usual baseline model to compare your regression model against is the simple imagesy=y¯--imagesy=y¯--verify that our regression model (or any estimation model) is outperforming the imagesy=y¯--3

We apply the Baseline Model Comparison to our final regression model (Figure 11.3) as follows:

  1. We calculate the errors for the baseline model using the imagesy¯=$112.57--
  2. We compute MAEBaseline = $55.53.
  3. The MAERegression we obtained by passing the test data set through the model developed by the training data set is $53...