Explain what is imputation? List out different types of imputation techniques?

During imputation we replace missing data with substituted values. The types of imputation techniques involve are

  • Single Imputation
  • Hot-deck imputation: A missing value is imputed from a randomly selected similar record by the help of punch card
  • Cold deck imputation: It works same as hot deck imputation, but it is more advanced and selects donors from another datasets
  • Mean imputation: It involves replacing missing value with the mean of that variable for all other cases
  • Regression imputation: It involves replacing missing value with the predicted values of a variable based on other variables
  • Stochastic regression: It is same as regression imputation, but it adds the average regression variance to regression imputation
  • Multiple Imputation
  • Unlike single imputation, multiple imputation estimates the values multiple times