What are the applications of polynomial regression?
Polynomial regression is used in various fields such as finance, biology, and engineering to model complex relationships.
Can you give me an example in finance?
Sure! In finance, polynomial regression can model the relationship between stock prices and time, capturing trends more accurately.
What about in biology?
In biology, it's used to analyze growth patterns of organisms, helping to predict future growth based on past data.
Are there any limitations to using polynomial regression?
Yes, polynomial regression can lead to overfitting, especially with high-degree polynomials, making the model less generalizable.
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