Types of Modeling Problems and Methods
Free SOA Exam SRM (Statistics for Risk Modeling) lesson in Basics of Statistical Learning. 9 min read, ~1,327 words.
Supervised learning has a labeled target Y; unsupervised learning has only inputs X. Clustering and PCA are unsupervised; regression and classification are supervised. Regression predicts a quantitative (numeric) response; classification predicts a qualitative (categorical) response. The response type, not the method name, fixes the task. K-nearest neighbors, trees, and neural...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- 1a
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