What are some effective case studies in variable selection?

What are some effective case studies in variable selection?

One notable case study is the use of LASSO regression in genomics, where variable selection helped identify key genes.

Can you explain how LASSO regression works?

LASSO regression adds a penalty equal to the absolute value of the magnitude of coefficients, which helps in variable selection.

Are there other methods besides LASSO?

Yes, methods like Ridge regression and Elastic Net also perform variable selection, each with its own advantages.

What industries benefit from variable selection?

Industries like healthcare, finance, and marketing benefit significantly from variable selection to improve model accuracy.

Can you provide more examples of case studies?

Sure! Another example is using decision trees in customer segmentation, where variable selection enhances predictive power.