Business Problem: We all know that Health care is very important domain in the market. It is directly linked with the life of the individual; hence we have to be always be proactive in this particular domain. Money plays a major role in this domain, because sometime treatment becomes super costly and if any individual is not covered under the insurance then it will become a pretty tough financial situation for that individual. The companies in the medical insurance also want to reduce their risk by optimizing the insurance cost, because we all know a healthy body is in the hand of the individual only. If individual eat healthy and do proper exercise the chance of getting ill is drastically reduced. Goal& Objective: The objective of this exercise is to build a model, using data that provide the optimum insurance cost for an individual. You have to use the health and habit related parameters for the estimated cost of insurance

Answer rating: 100% (QA)

To address this business problem youll need to follow these steps Data Collection Gather data on health and habitrelated parameters from a variety of ... View the full answer