Building an algorithm, assessing its performance, and evaluating the final selected algorithm usually occurs by using multiple datasets. There are a f common datasets used throughout this process.

The goal of this activity is to demonstrate your understanding between training, validation, testing, and new data.

Match each term to its correct description.

Training

$3$

New data

$4$

Validation

M

of the options above to the items below.

the data used to build the algorithm and "learn" the relationship between the predictors and the target variable

the data used to assess how well the model estimates the target variable to make a recommendation

the data used to evaluate the final selected algorithm and see how well it performs

the data used to apply the final selected model to perform prediction or classification