I have mostly seen people using an 80-20 split, however, while reading some Neural Networks literature, I have come across the use of a much bigger training set of 90-10, sometimes even 95-05.
Does the split size vary from one case to another? Does it depend upon the amount of data available? Or on the amount of noise in data?
I have also heard about ‘validation’ set. Is it the same as the test set? If not, what’s the difference?