What are the key methods for variable selection? Explain briefly.

1.	What are the key methods for variable selection? Explain briefly.
Answer» We can follow the below steps for variable selection. There could be other ways to accomplish this as well. Remove the correlated variables prior to selecting important variables Use LINEAR REGRESSION and select variables based on p values Use Forward Selection, Backward Selection, Stepwise Selection Use Random Forest, Xgboost and PLOT variable importance chart Use Lasso Regression Measure information gain for the available set of features and select top n features ACCORDINGLY.

Answer»

We can follow the below steps for variable selection. There could be other ways to accomplish this as well.

Remove the correlated variables prior to selecting important variables
Use LINEAR REGRESSION and select variables based on p values
Use Forward Selection, Backward Selection, Stepwise Selection
Use Random Forest, Xgboost and PLOT variable importance chart
Use Lasso Regression
Measure information gain for the available set of features and select top n features ACCORDINGLY.

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What are the key methods for variable selection? Explain briefly.

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