We have come a long way in the Machine Learning for dummies series. First, we explored what Machine Learning is, then we dived into the concepts of Supervised and Unsupervised Learning concepts. We saw what Linear Regression is and the basic error concepts like Mean Absolute Error, Relative Error, Root Mean Square Error. We also explored the Ordinary Least Square Technique and Coefficient of Determination.
In this video, we will explore what a Cost Function is. This is an important concept and is very much needed while building an efficient Machine Learning Model. It gives an estimate for the error in Machine Learning and suggests how the cost can be minimized.
Now, without any further ado, let us dive into it.