Comparison of classical regression models with models built using advanced machine learning methods
Econometrics, or econometric modeling, is engaged in the construction of models and forecasts. Analyzing that, you can understand the current situation and direction of development of the economy and its industries. This paper discusses the classical econometric regression models and machine learning models (Machine Learning) based on the use of modern methods and software of applied computational statistics, their construction, forecasting on them, as well as comparison of the results.