R: Unleash Machine Learning Techniques

Chapter 6. Forecasting Numeric Data – Regression Methods

Mathematical relationships help us to understand many aspects of everyday life. For example, body weight is a function of one's calorie intake, income is often related to education and job experience, and poll numbers help us estimate a presidential candidate's odds of being re-elected.

When such relationships are expressed with exact numbers, we gain additional clarity. For example, an additional 250 kilocalories consumed daily may result in nearly a kilogram of weight gain per month; each year of job experience may be worth an additional $1,000 in yearly salary; and a president is more likely to be re-elected when the economy is strong. Obviously, these equations do not perfectly fit every ...