Introduction

Max Kuhn and Kjell Johnson
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Max Kuhn: Pfizer Global Research and Development, Division of Nonclinical Statistics
Kjell Johnson: Arbor Analytics

Chapter Chapter 1 in Applied Predictive Modeling, 2013, pp 1-16 from Springer

Abstract: Abstract Every day people are faced with questions such as “What route should I take to work today?” “Should I switch to a different cell phone carrier?” “How should I invest my money?” or “Will I get cancer?” These questions indicate our desire to know future events, and we earnestly want to make the best decisions towards that future. In this chapter we explore the contrast between the competing modeling objectives of prediction and interpretation (Section 1.1), outline the foundational components for developing predictive models (Section 1.2) and define common terminology (Section 1.3), and provide summaries of data sets that will be used throughout the book (Section 1.4). The chapter ends with an overview of the four parts of the book (Section 1.5), and notation used throughout the text (Section 1.6).

Keywords: Predictive Model; Linear Discriminant Analysis; Multivariate Adaptive Regression Spline; Recursive Partitioning; Grant Application (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4614-6849-3_1

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DOI: 10.1007/978-1-4614-6849-3_1

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