@B.Rabbit wrote:
Hello,
I'm reading the book "Introduction to Statistical Learning" by Trevor Hastie. In the chapter Linear regression it is mentioned that "calculation of prediction interval includes the irreducible error". What does this mean? If my understanding is right irreducible error is the error induced by approximating a real life problem or say error induced due to unavailable data. How can such an error be included while calculating prediction interval?Regards
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