as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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how can we improve the performance of a linear regression model?
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improving the performance of a linear regression model involves reducing the error between the predicted and the actual output. this can be done by i)adding more features that are relevant to predicting the output, ii)reducing multicollinearity between features, iii)removing outliers, and iv)using regularization techniques like lasso or ridge regression.
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