Question: How does this model in step 5 compare to the full model in step 4 with respect to accurate prediction? (Hint: Look at the Error
How does this model in step 5 compare to the full model in step 4 with respect to accurate prediction? (Hint: Look at the Error Report on Validation Data for Step 4 and Step 5. Interpret the meaning of the coefficient for closing price. Does closing price have a practical significance? Is it statistically significant for predicting competitiveness of auctions? (Use a 10% significance level.) (Hint: Look at the worksheet "LR_Output" or similar name. You will see a record for Closing Price as below (sample) - You may have a different value based on your analysis but the interpretation guidelines are shown) Regression Model Input Variables Coefficient Std. Error Chi2-Statistic P-Value Odds CI Lower CI Upper Intercept-1.60576 0.866675 3.432804251 0.063913 0.200737 0.036721 1.097342316 sellerRating-5.18E-05 1.59E-05 10.61508375 0.001122 0.999948 0.999917 0.999979344 Residual DF 1152 Residual Dev.1149.579 # Iterations Used ClosePrice 0.104706 0.010797 94.05274452 3.07E-22 1.110384 1.087134 1.134131058 6 Multiple R 0.293329 OpenPrice-0.127047 0.013017 95.2584168 1.67E-22 0.880693 0.858508 0.903450756 Dr. Annadatha DA 540 Applied Data Mining For interpretation of the coefficient for closing price, statistical significance, you may use the following details for your own understanding. The coefficient for "close price" is 0.1047. This positive coefficient means that higher closing prices are associated with a higher probability of the auction b
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