Question: If used to model data that have limits (such as the age of a customer using a credit card or amount spent by a customer),

If used to model data that have limits (such as the age of a customer using a credit card or amount spent by a customer), what problem does a normal model have?

Step by Step Solution

★★★★★

3.58 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A normal model assigns some probabilit... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Questions!

The American Bankers Association collects data on the use of credit cards, debit cards, personal checks, and cash when consumers pay for in-store purchases (The Wall Street Journal, December 16,...

Consider again the example introduced in Section 4.5 of a credit card company that has a database of information provided by its customers when the customers apply for credit cards. An analyst has...

The file DVD Movies.xlsx contains a large data set of 10,000 customer transactions for a fictional chain of video stores in the United States. Each row corresponds to a different customer and lists...

Market Demand Forecast Method Selection and Application: A Case Study in Hero MotoCorp Ltd. D K Choudhury Abstract: In this dynamic era, the market is very competitive and the demand for a product...

I have been working on a Finance research paper for a while now. It is about analysis of Amazon and eBay and comparison to the industry average. I sent it to my professor but he said i didn't include...

With the amount of data available to companies doubling every year, new sources of data, and innovations in data collection, possibilities for marketers to identify market niches and finely tune...

Management information system With the amount of data available to companies doubling every year, new sources of data, and innovations in data collection, possibilities for marketers to identify...

With the amount of data available to companies doubling every year, new sources of data, and innovations in data collection, possibilities for marketers to identify market niches and finely tune...

Answer both below question correct and in detail based on the below case and get 100% feedback!! Case study With the amount of data available to companies doubling every year, new sources of data,...

Develop brief answers to each of the following questions: 1. If the value of a partnership is worth far more than the book value of the assets on the balance sheet, would a new partner entering the...

Give some examples of ethical issues that you have experienced in jobs, and explain how HR did or did not help resolve them.

In which of the following situations is a corporation earning incidental active business income? ( This is a multiple - choice question, please provide the correct answer ) Regina Corporation has...

As discussed in this chapter, ultimate criteria signal the company values or strategic intent underlying the jobs within that company. Create four ultimate criteria to be used by management and staff...

The study of recent college graduates described in Exercise 33 found that among those who had graduated with debts from student loans, 33% had sold possessions since graduating. Among those who had...

An auto manufacturer has studied the choice of options available to customers when ordering a new vehicle. Of the customers who order a car, 25% choose a sunroof, 35% choose a leather interior, and...

A vendor specializing in outdoor gear offers customers three ways to place orders for home delivery. Customers can place orders either in the store, online, or via telephone using a catalog. Of the...

Check My Work E eBook Problem Walk-Through WACC Shi Import-Export's balance sheet shows $300 million in debt, $50 million in preferred stock, and $250 million in total common equity. Shi's tax rate...

1.If an investment of $800 earned interest of $320 at 6% compounded monthly, for how many years was the money invested

Comparing Investment Criteria The treasurer of Amaro Canned Fruits, Inc., has projected the cash flows of projects A, B, and C as follows: Suppose the relevant discount rate is 12 percent a year. a....