Predictive and probabilistic approach using logistic regression: Application to prediction of loan approval

摘要

Decision taking is attained by probabilistic and predictive approaches developed by various machine learning algorithms. This paper discusses about logistic regression ad its mathematical representation. This paper adheres to logistic regression as a machine learning tool in order to actualize the predictive and probabilistic approaches to a given problem of loan approval prediction. Using logistic regression as a tool, this paper specifically delineates about whether or not loan for a set of records of an applicant will be approved. Furthermore, it also discusses about other real-world applications of this machine learning mode.