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What is a real world example of Training vs Testing Data

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A bank builds a loan approval model on data from the last five years and tests it on the most recent six months of applications to see how it would have performed in practice.
Real-world example A bank builds a loan approval model on data from the last five years and tests it on the most recent six months of applications to see how it would have performed in practice.

Common follow-ups: What is a validation set, What is cross validation, What is overfitting

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All 7 Training vs Testing Data questions