Today, I explored of the Cross Validation and Bootstrap methodologies, seeking to grasp their intricacies on a deeper level. Cross Validation, as I learned, necessitates the initial division of the dataset into two vital segments: the training dataset and the testing dataset. A pivotal choice in this process is the determination of ‘k,’ representing the number of subsets or folds into which the entire dataset will be split. The training dataset comprises ‘k-1’ folds, reserving one fold for the testing dataset. I discovered that the careful selection of a suitable performance metric is of utmost importance to effectively gauge the model’s performance. The Cross Validation process involves repeating the ‘k-1’ iterations, each time calculating the performance metric. The mean of these performance metrics offers a robust estimate of the model’s overall performance, with the ultimate goal being a precise estimate of the test error.
On the other hand, Bootstrap, I found, employs a resampling technique that allows for replacement, setting it apart from Cross Validation. Unlike Cross Validation, which conducts multiple testing iterations using various training datasets and a fixed test dataset, Bootstrap employs a different strategy. Bootstrap proves particularly valuable when dealing with datasets of limited size. It repeatedly samples data points from the observed dataset with replacement, enabling the estimation of the underlying data distribution.
Reflecting on our ongoing project, I’ve come to realize that Bootstrap appears to be the more suitable approach for our modeling endeavors, given that our CDC dataset comprises approximately 300 data points. Bootstrap’s ability to work effectively with smaller datasets makes it the preferred methodology in this specific scenario. My journey into these methodologies has equipped me with a newfound appreciation for the nuances and versatility they bring to the world of data analysis and modeling.