Question: In fitting a model to classify prospects as purchasers or nonpurchasers, a certain company drew the training data from internal data that include demographic and

In fitting a model to classify prospects as purchasers or nonpurchasers, a certain company drew the training data from internal data that include demographic and purchase information. Future data to be classified will be lists purchased from other sources, with demographic (but not purchase) data included. It was found that “refund issued” was a useful predictor in the training data. Why is this not an appropriate attribute to include in the model?

Step by Step Solution

★★★★★

3.47 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Including refund issued as a predictor in the model for classifying prospects as purchasers or nonpurchasers may not be appropriate for several reason... 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 Essentials Business Analytics Questions!

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

In Exercise 10.23 on page 569 we fit a model predicting the price of a home (in $1000s), using size (in square feet), number of bedrooms, and number of bathrooms, based on data in HomesForSale....

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

2.6 In fitting a model to classify prospects as purchasers or nonpurchasers, a certain com- pany drew the training data from internal data that include demographic and purchase information. Future...

I have attached both the chapters from which you will be answering the following question. Ch 8 (p 387 of text or p 35 of the pdf) ?Exercise D. Prepare the bank reconciliation and any required...

As urban areas become more congested, new companies seek to solve the problems associated with millions of people in a small area. Recently, a number of ride-sharing technologies have emerged and...

Analytics mindset Final Project 4 Gamification Part 1: Background You are the chief technology officer (CTO) of an international bank. A key component of your job is to manage risk within the bank...

Part 1: Background You are the chief technology officer (CTO) of an international bank. A key component of your job is to manage risk within the bank related to information technology (IT). Banks...

Q. 2.4 & 2.11 (A+B) 48 OVERVIEW OF THE DATA MINING PROCESS TABLE 2.7 Age Income ($) 49,000 156,000 99,000 192,000 39,000 57,000 b. We plan to analyze the data using various data mining techniques...

What are the four elements of a firms marketing mix?

A point charge of 1.8pC is at the center of a cubical Gaussian surface 55 cm on edge. What is the net electric flux through the surface?

Required: a . Compute the amourt subject to lederal get tax when the FIVV of fre real entate was 5 4 7 5 milion and the tranuler wis Mr hols frst taxable gift. b . Compute the ambunt subject to...

Describe the differences among continuous innovations, dynamically continuous innovations, and discontinuous innovations, and provide an example of each. Which type are consumers least likely to...

Video Tech is considering marketing one of two new video games for the coming holiday season: Battle Pacific or Space Pirates. Battle Pacific is a unique game and appears to have no competition....

Seneca Hill Winery recently purchased land for the purpose of establishing a new vineyard. Management is considering two varieties of white grapes for the new vineyard: Chardonnay and Riesling. The...

The following profit payoff table was presented in Problem 1: The probabilities for the states of nature are P(s1) = 0.65, P(s2) = 0.15, and P(s3) = 0.20. a. What is the optimal decision strategy if...

What I have so far: AA (nearest 1000) is 298,000 BB (nearest 100) is 292,500 CC (nearest 1000) is 1,100,000 DD (nearest 100) is 300,000 EE (nearest 100) is 283,400 FF= 977,000 GG=283,400 HH= 128,400...

Question 2 If we swap the definitions of plaquette and vertex operators such that the plaquette operator is a product of z and the vertex operator is a product of x , do we still get a toric code? No...

main.py Load default tem S Car: def _ init _ ( self , model _ year, purchase _ price, current value ) : ) = ( 0 self.purchase _ price = 0 , # Declare purchase _ price attribute self.current _ value =...