When should I use Elastic Net for regression?
An example of an AI chatbot conversation about when to use Elastic Net in regression analysis.
When should I use Elastic Net for regression?
Elastic Net is useful when you have a large number of features, especially when they are correlated.
How does it compare to Lasso and Ridge regression?
Elastic Net combines both Lasso and Ridge penalties, making it effective for datasets with multicollinearity.
What are the advantages of using Elastic Net?
It can select groups of correlated features and is more robust in high-dimensional spaces.
Can you give me an example of when to use it?
Sure! Use Elastic Net when you have many predictors and suspect some are correlated, like in genomic data.
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