Fisher scoring
|
69
|
Rapid and guaranteed convergence. Easy to interpret. Generates standard errors of all parameters estimates. |
Computations become intensive in complex models. Difficult to determine the expected value of the Hessian matrix associated with the difficulty of identifying the appropriate sampling distribution. |
Principal Component Analysis (PCA)
|
70
|
Unsupervised and simple technique. Nonparametric. Not computation-intensive. Does not require large amounts of data. |
It is necessary to normalize the data before applying PCA to mitigate scale effects. Difficult to evaluate the covariance matrix accurately. |
Linear Discriminant Analysis (LDA)
|
71
|
Easy and intuitive to use and understand. Maximizes the separation between classes while minimizing dispersion within the class. |
Only models relationships between linear dependent and independent variables. Very sensitive to the anomalies in the data. |
Least Absolute Shrinkage and Selection Operator (LASSO)
|
72
|
Reduces and selects variables simultaneously for better prediction and model interpretation. |
Tends to select more covariates than expected, promoting a conflict between the correct selection and the optimal prediction. |