What are the different regression techniques and how do they compare?

What are the different regression techniques available?

There are several regression techniques, including linear regression, polynomial regression, ridge regression, and lasso regression. Each has its own strengths and weaknesses.

How do linear regression and ridge regression differ?

Linear regression aims to minimize the sum of squared errors, while ridge regression adds a penalty for larger coefficients to prevent overfitting.

When should I use lasso regression instead of ridge regression?

Lasso regression is useful when you want to perform feature selection, as it can shrink some coefficients to zero, effectively removing them from the model.

Can you give me an example of when to use polynomial regression?

Polynomial regression is ideal when the relationship between the independent and dependent variables is non-linear, such as in modeling growth curves.