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.


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