Specifying and Fitting Models

Presenter: Hyde Miller

Modeling Various Types of Data

See how to:

  • Understand the data used in the housing case study
  • Import Excel from Excel (7:16)
  • Explore and uncover significant patterns in data using Distributions, maps, Multivariate Analysis, Scatterplots, Correlation reports, p-values and Confidence Levels (11:26)
  • Build and interpret models for continuous responses using JMP Fit Model's Standard Least Squares option (22:56)
    • Interpret Effect Summary and Effect Details
    • Use Prediction Profiler to show impact of changing one factor on other factors (what-if simulations)
    • Examine Actual by Predicted Plot to evaluate model accuracy
    • Interpret R-squared values
    • Locate highly correlated factors and use Leverage Plot to help interpret model
  • Build and interpret models for continuous responses using JMP Fit Model's Stepwise option (31:06)
    • Step through model starting with no parameters and then sequentially increasing model complexity by locating next best predictor
    • Let JMP step through paramenters to find best model
    • Examine R-squared values at each step to help determine when to stop increasing complexity
    • Save Prediction Formulas for model
    • Use Prediction Profiler to show impact of changing one factor on other factors (what-if simulations)
  • Build and interpret models for categorical responses using JMP Fit Model's Normal Logistic option (38:23)
    • Interpret Misclassification Rate and Confusion Matrix to identify correct response predictions
    • Examine Normal Logistic formulas
  • Build and interpret models for categorical ordinal responses using JMP Fit Model's Ordinal Logistic option (42:07)
  • Build and interpret models for data with non-normal Distributions using JMP Pro Generalized Regression (43:09)
    • Understand the importance of penalized regression approaches
    • Choose Lasso, Double Lasso, Elastic Net or Ridge estimation method
  • Share results at PowerPoint or Interactive HTML (46:47)

Note: Q&A included at times 34:07, 34:37, 49:18 and 50:48.

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