What is K fold?

K-Fold CV is where a given data set is split into a K number of sections/folds where each fold is used as a testing set at some point. Lets take the scenario of 5-Fold cross validation(K=5). This process is repeated until each fold of the 5 folds have been used as the testing set.

What are the types of cross validation?

TypesLeave-p-out cross-validation.Leave-one-out cross-validation.k-fold cross-validation.Holdout method.Repeated random sub-sampling validation.

What are the advantages of the K fold cross validation technique?

Advantages of K fold or 10-fold cross-validationComputation time is reduced as we repeated the process only 10 times when the value of k is 10.Reduced bias.Every data points get to be tested exactly once and is used in training k-1 times.The variance of the resulting estimate is reduced as k increases.

What is a holdout sample?

Holdout sample is a sample of data not used in fitting a model, used to assess the performance. of that model; this book uses the terms validation set or, if one is used in the problem, test set. instead of holdout sample.

What is holdout period?

The period for which data are held for testing a model.