What are some examples of ensemble methods in machine learning?

What are some examples of ensemble methods in machine learning?

Ensemble methods combine multiple models to improve performance. Common examples include Random Forests, AdaBoost, and Gradient Boosting.

Can you explain how Random Forests work?

Random Forests create a 'forest' of decision trees, each trained on a random subset of data. The final prediction is made by averaging the predictions of all trees.

What is the difference between Bagging and Boosting?

Bagging reduces variance by averaging predictions from multiple models, while Boosting reduces bias by sequentially training models to correct errors.

Are there any real-world applications of these methods?

Yes, ensemble methods are widely used in finance for credit scoring, in healthcare for disease prediction, and in marketing for customer segmentation.