Primary competition visual

RMB Monthly Mini Challenge #1: Nowcast April

Helping South Africa
$600 USD
Completed (almost 3 years ago)
Forecast
592 joined
132 active
Starti
Mar 21, 23
Closei
May 01, 23
Reveali
May 24, 23
User avatar
ff
University of Yaoundé I
A bit lost !
Help · 4 Apr 2023, 19:18 · 2

In the staternotebook.ipynb, there is a linear model which is useless (the model was not used to predict the categories for the month of April).

Still in the same notebook, to predict the subcategories, a weighting formula is used, I don't know where it comes from.

Do you use weighting formulas or machine learning to predict category and subcategories?We are supposed to predict the categories of the month of April and the data of March are not present in the dataset. Is this normal?

Thank you!

Discussion 2 answers

Hello, the aim of the starter notebook is to introduce statistical learning as well as data science methodologies to a broad audience. This audience consists of people that have never even coded before.

The linear model is there to illustrate how a linear model can be implemented for a specific dataset. This model can be altered to predict sub-category values if you just change the dataset accordingly. Remember, the dataset used for the linear model contains headline CPI values, therefore the output of the linear model will be headline CPI. The month does not matter. 

It is your job to figure this out from the information given.

The weighting system is an introduction to the prediction of the sub-categories and illustrate the weighting system for sub-category CPI values.

The aim of the starter notebooks is not to solve the problem at hand but rather to aid your journey to a solution.



Just remember, complex models are not always better.

Here is a great introduction video series to statistical learning: https://www.youtube.com/watch?v=5N9V07EIfIg&list=PLOg0ngHtcqbPTlZzRHA2ocQZqB1D_qZ5V

5 Apr 2023, 04:47
Upvotes 2
User avatar
ff
University of Yaoundé I

Okay. Understood! Thank you.