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Differentiate between parametric and non-parametric models.

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Differentiation Based on Parametric Model Non-parametric Model

Features A finite number of parameters to predict new data Unbounded number of parameters

Algorithm Logistic regression, linear discriminant analysis, perceptron, and Naive Bayes K-nearest neighbors, decision trees like CART and C4.5, and support vector machines

Benefits Simple, fast, and less data

Flexibility, power, and performance

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