what is the process for classifying or predicting the value of the target variable of a new observation for given values of predictor variables called?

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24-11-2022
Mathematics

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what is the process for classifying or predicting the value of the target variable of a new observation for given values of predictor variables called?

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smecloudbird18 smecloudbird18 · Answer 1 · 2022-12-04T07:36:32-05:00

The process for classifying or predicting the value of the target variable of a new observation for given values of predictor variables called is called scoring a card.

In the given question we have to explain what is the process for classifying or predicting the value of the target variable of a new observation for given values of predictor variables called.

As we know that, a score a card is a statistical model generated using information about the portfolio's past performance. The main advantage of categorizing clients using a statistical scorecard is that it gives the client an accurate numerical forecast of their future behavior.

So, the process for classifying or predicting the value of the target variable of a new observation for given values of predictor variables called is called scoring a card.