Topic 6: Nonparametric Models

Question 1

What is a key difference between parametric and nonparametric models?

Answer 1

Parametric models summarize data with a fixed number of parameters, while nonparametric models allow the number of parameters to grow with the data.

Question 2

Why are nonparametric models considered more flexible?

Answer 2

They allow the data to define the model without imposing a fixed structure.