EDA with Python & Pandas (3/6): Build a Simple Linear Regression Model

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## Exploratory Data Analysis Python Tutorial Series on Vienna Hotels - Part 3 of 6

In this video, we continue our exploration of parameterized linear regression, a fundamental technique widely used in data analysis.

Building upon the previous videos, we delve into the nuances of building and interpreting a parameterized linear regression model. We discuss the significance of alpha and beta coefficients and the scenarios where a simple linear regression model can be more effective than complex machine learning models, especially when presenting to a business audience.

We demonstrate the process of fitting a linear regression model using statsmodels, emphasizing the importance of the intercept and slope coefficients. We cover the concept of binary variables and their impact on regression models, highlighting how different categories can affect our predictions. The video also explains the significance of residuals and RMSE (Root Mean Squared Error) in evaluating model performance.

By the end of the session, you'll have a clear understanding of how to implement and interpret a simple linear regression model, the importance of minimizing residuals, and the role of RMSE in regression analysis. We also touch upon the importance of confidence intervals and their interpretation in the context of model coefficients.

## See the full EDA with Python Tutorial Series

## Timestamps

00:00 - Introduction to Parameterized Linear Regression
00:06 - Building and Interpreting Linear Regression Models
00:18 - Importance of Alpha and Beta Coefficients
00:28 - Scenarios for Choosing Linear Regression over Complex Models
00:57 - Fitting a Linear Regression Model using Statsmodels
01:37 - Binary Variables and Their Impact
02:10 - Understanding Residuals and RMSE
03:45 - Computing and Interpreting RMSE
04:40 - Exploring Confidence Intervals
06:45 - Preparing for Multiple Linear Regression in Future Sessions

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See you in the next video!
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hey just a quick question are we goin to go through a lot of ml stuff in this 6 videos and do i need to know any pre-requisites ? I am familiar with python, and its libraries like pandas, numpy and matplotlib
thanks

swayamswarupbarik
welcome to shbcf.ru