9.9 Exercise: Resampling methods

• Let’s quickly review cross-validation
  1. Why/when do we normally use cross-validation (“resampling methods”)?
  2. Explain how k-fold cross-validation is implemented.
  3. What are the advantages and disadvantages of k-fold cross-validation relative to the validation set approach?
  4. What are the advantages and disadvantages of k-fold cross-validation relative to LOOCV?