by now, you should have completed your third HANDS-ON Activity about Market Basket Analysis. Below, please find the representative answer for the Activity . Please review the representative answer and then reflect on the assignment as indicated in the instructions below.

Happy Posting!!!

POST

Submit a posting that addresses the following prompts

1. Share your key learning(s) from the assignment
2. Share a specific insight you gained from comparing your work with the representative answer
3. Share a concept, if any, that remains difficult to understand, or a question which you have about Market Basket Analysis

READ

Read a selection of your colleagues' posts.

RESPOND To A Classmate's Posting

• Ask a probing question, such as "Could you explain ... further?" or, "Is this what youre saying?"
• Provide an insight and connection to your own post and the assignment
• Answer a question posed by a classmate about the assignment

REPRESENTATIVE ANSWER

1. Complete the BASE Market Basket Analysis Table
2. Complete the Support Table
3. Complete the Confidence Table
4. Complete the Lift Table

What is the numeric value of SUPPORT (Wheat Crackers, Dried Apricots)? What does it mean? 6.25% It represents the percentage of transactions (receipts) out of 400 which contain BOTH wheat crackers and dried apricots, or the percentage of of customers (out of 400) who purchased wheat crackers and dried apricots

Which table tells you the overall probability that a consumer will purchase a product given that s/he has already purchased a specific product? CONFIDENCE

Using the data from the table identified in Question 6 above, what is the probability that a consumer will purchase Honey if they have already bought Bleu Cheese? 42.86%

What does the LIFT value of a product pair -- LIFT (product A, product B) mean? LIFT represents the impact that purchasing a specific product has on the probability that a consumer will purchase another product.

If the value is GREATER THAN 1 (or 100%), then purchasing a product (product B), will REDUCE the probability of a consumer purchasing another product (product A).

If the value is LESS THAN 1 (or 100%), then purchasing product B will INCREASE the probability of a consumer purchasing product A.

If the value is EQUAL TO 1 (or 100%), then purchasing product B has NO IMPACT on the probability of a consumer purchasing product A.

Which product, if purchased, will minimize the probability that a consumer will purchase Wheat Crackers? Look in the Wheat Cracker Row of the LIFT table and identify the lowest value (5.82%). This corresponds to Marcona Almonds. Therefore, if a consumer purchases Marcona Almonds, the probability of him/her purchasing Wheat Crackers will be minimized.