Model Evaluation and validation
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👉Part 12: Model Evaluation and Validation👈 Welcome back to the Beginner's Guide to Data Science! In this installment, we will delve into the critical aspect of model evaluation and validation. After building Machine Learning algorithms, it's essential to assess their performance on unseen data to ensure their effectiveness and generalizability. Training, Validation, and Test Sets: To evaluate a model properly, it's crucial to split the available data into three sets: training set, validation set, and test set. The training set is used to train the model, the validation set is used to tune hyperparameters and make decisions during the model development phase, and the test set is used to evaluate the final performance of the model. The test set should be kept completely separate from the training and validation sets to ensure an unbiased assessment. Performance Metrics: Several performance metrics are used to evaluate the performance of ML models based on the type of probl...