Learn how to use regression models, a type of machine learning model that predicts a continuous numerical value, to predict the daily demand for a toy company based on the factors that influence the demand.
Table of Contents
Question
A toy company wants to predict the daily demand in order to assure that they have the necessary stock to honour all orders. What machine learning model can be used in this case?
A. Classification
B. Clustering
C. Regression
Answer
C. Regression
Explanation
Regression is a supervised machine learning technique used to predict numeric values.
The correct answer is C. Regression. Regression is a type of machine learning model that predicts a continuous numerical value based on the input features. In this case, the toy company wants to predict the daily demand, which is a numerical value, based on the factors that influence the demand, such as season, price, promotion, etc. Regression models can be used to estimate the relationship between the input features and the output value, and use that relationship to make predictions for new data.
Classification is a type of machine learning model that predicts a discrete categorical value based on the input features. For example, a classification model can be used to predict whether an email is spam or not, based on the content, sender, subject, etc. Classification models are not suitable for predicting numerical values.
Clustering is a type of machine learning model that groups similar data points together based on their features. For example, a clustering model can be used to segment customers based on their preferences, behavior, demographics, etc. Clustering models are not suitable for predicting numerical values.
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