Identify the types of variables and terminology used in predictive modeling.
Free SOA Exam PA (Predictive Analytics) lesson in Data Exploration and Visualization. 11 min read, ~1,681 words.
The target (response) is the outcome you predict; predictors (features) are the inputs. Continuous variables take any value in a range; discrete variables take countable, separated values. Categorical (factor) variables hold a finite set of levels; string variables hold free text. A factor is ordered when its levels have a...
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- Example 1
- Example 2
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Learning objectives
- 2b
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