How can we measure the accuracy of predictions in regression?
Local regression
How can we measure the accuracy of predictions in regression?
Imagine you're predicting the temperature for the next week based on past weather patterns. You want to know how close your predictions are to the actual temperatures.
Think of it as comparing your predicted temperatures to the real ones. The closer they are, the better your predictions. We use a specific formula to quantify this closeness.
Example
If your predicted temperatures were 70°F, 72°F, 68°F, and the actual temperatures were 71°F, 73°F, 67°F, we can calculate how close you were.
Remember this
The mean squared error (MSE) formula helps us understand the accuracy of our predictions.
Text adapted from Wikipedia, licensed under CC BY-SA 4.0.
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