You are building a regression model to predict the wind speed at any point on earth. During the training process, you calculate the loss value.
What is the loss value?
Choose the correct answer from the options below.
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Explanations for each answer:
The sum of the differences between the model predictions and the actual label values is correct
The average difference between a model prediction and the actual label value is incorrect. The average difference between a model prediction and the actual label value is called the Mean Absolute Error (MAE).
The total number of times the model generated a correct prediction is incorrect. This metric is called the Accuracy. We don't use it for regression models because a regression prediction is almost never exactly correct.
The total number of correct positive predictions divided by the total number of positive predictions is incorrect. This metric is called the Precision. We cannot use it for regression models because a regression prediction cannot be 'positive' or 'negative'.