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Specifying and Fitting Models

 

See how to:

  • Understand the data used in the housing case study
  • Import Excel from Excel 
  • Explore and uncover significant patterns in data using Distributions, maps, Multivariate Analysis, Scatterplots, Correlation reports, p-values and Confidence Levels 
  • Build and interpret models for continuous responses using JMP Fit Model's Standard Least Squares option
    • 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 
    • Step through model starting with no parameters and then sequentially increasing model complexity by locating next best predictor
    • Let JMP step through parameters 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 
    • 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 
  • Build and interpret models for data with non-normal Distributions using JMP Pro Generalized Regression 
    • Understand the importance of penalized regression approaches
    • Choose Lasso, Double Lasso, Elastic Net or Ridge estimation method
  • Share results at PowerPoint or Interactive HTML

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

 

Resources

  • Boston Property Assessment data used in the webinar.  Hyde notes: This table has 174K rows while my data has 26K rows.  There is a column called LU which is the type of property and I only looked at R1, which is single family residential.  

 

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Use Videos and Resources to Practice JMP, JMP Pro, JMP Clinical and JMP Genomics.

1-hour live Mastering JMP webinars occur most Fridays from January through October. After each session, we hope you will use the video and resources shared by the presenting JMP Systems Engineers to practice what you saw.

Mastering JMP Videos are available here.