Unbalanced data-sets are a well described problem for classification-problems.
However, for regression similar problems can arise. An example is the data-set where target variable has a very irregular histogram.
When fitting a model on such data, the main focus will be on the peak around the value 120. However, I want to create a model which works over the entire interval from 40 to 160.
- How would you typically approach these problems?
- Are you aware of any literature regarding this topic?
- Is balancing the data-set a good approach and how can this be implemented?