Leggere, an Internet book retailer, is interested in better understanding the purchase decisions of its customers....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Leggere, an Internet book retailer, is interested in better understanding the purchase decisions of its customers. For a set of 2,000 customer transactions, it has categorized the individual book purchases comprising those transactions into one or more of the following categories: Novels, Willa Bean series, Cooking Books, Bob Villa Do-It-Yourself, Youth Fantasy, Art Books, Biography, Cooking Books by Mossimo Bottura, Harry Potter series, Florence Art Books, and Titian Art Books. Leggere has conducted association rules analysis on this data set and would like to analyze the output. Based on a minimum support of 20% of transactions and a minimum confidence of 50%, the table below shows the top 10 rules with respect to lift ratio. Antecedent BotturaCooking Cooking, BobVilla Cooking, Art Cooking, Biography Youth Fantasy Cooking, Art Cooking, BobVilla Biography Novels, Cooking Consequent Art Cooking Art Biography Art Novels, Cooking BobVilla Biography Novels, Cooking Support for A & C 0.227 0.205 0.204 0.204 0.245 0.205 0.218 0.293 0.293 Confidence 0.249 1.00 0.54 0.61 0.54 0.55 0.61 0.58 0.53 0.57 Lift Ratio 0.52 1.16 1.12 1.10 1.10 Biography Novels, Cooking (a) Explain why the top rule "If customer buys a Bottura cooking book, then they buy a cooking book," is not helpful even though it has the largest lift and 100% confidence. A high value of confidence can be misleading, Any rule with cooking as the consequent will have high confidence because the confidence is 1.00 or 100%. This can be misleading because it provides no information and they could be interested in other types of cooking books. 1.075 1.055 1.04 1.035 1.035 1.01 (b) Explain how the confidence of 54% and lift ratio of 1.10 was computed for the rule "If a customer buys a cooking book and a biography book, then they buy an art book." (Round your answers to the three decimal places.) 0.204 confidence lift ratio 0.54 = 0.54 = 1.10 Interpret these what a confidence of 54% means. Interpret these what a lift ratio of 1.10 means. (c) Based on these top 10 rules, what general insight can Leggere gain on the purchase habits of these customers? Leggere, an Internet book retailer, is interested in better understanding the purchase decisions of its customers. For a set of 2,000 customer transactions, it has categorized the individual book purchases comprising those transactions into one or more of the following categories: Novels, Willa Bean series, Cooking Books, Bob Villa Do-It-Yourself, Youth Fantasy, Art Books, Biography, Cooking Books by Mossimo Bottura, Harry Potter series, Florence Art Books, and Titian Art Books. Leggere has conducted association rules analysis on this data set and would like to analyze the output. Based on a minimum support of 20% of transactions and a minimum confidence of 50%, the table below shows the top 10 rules with respect to lift ratio. Antecedent BotturaCooking Cooking, BobVilla Cooking, Art Cooking, Biography Youth Fantasy Cooking, Art Cooking, BobVilla Biography Novels, Cooking Consequent Art Cooking Art Biography Art Novels, Cooking BobVilla Biography Novels, Cooking Support for A & C 0.227 0.205 0.204 0.204 0.245 0.205 0.218 0.293 0.293 Confidence 0.249 1.00 0.54 0.61 0.54 0.55 0.61 0.58 0.53 0.57 Lift Ratio 0.52 1.16 1.12 1.10 1.10 Biography Novels, Cooking (a) Explain why the top rule "If customer buys a Bottura cooking book, then they buy a cooking book," is not helpful even though it has the largest lift and 100% confidence. A high value of confidence can be misleading, Any rule with cooking as the consequent will have high confidence because the confidence is 1.00 or 100%. This can be misleading because it provides no information and they could be interested in other types of cooking books. 1.075 1.055 1.04 1.035 1.035 1.01 (b) Explain how the confidence of 54% and lift ratio of 1.10 was computed for the rule "If a customer buys a cooking book and a biography book, then they buy an art book." (Round your answers to the three decimal places.) 0.204 confidence lift ratio 0.54 = 0.54 = 1.10 Interpret these what a confidence of 54% means. Interpret these what a lift ratio of 1.10 means. (c) Based on these top 10 rules, what general insight can Leggere gain on the purchase habits of these customers?
Expert Answer:
Answer rating: 100% (QA)
I lexplain ally the top scule If customer buys a Buttora Cooking book then they ... View the full answer
Related Book For
Essentials Of Business Analytics
ISBN: 9781337406420
3rd Edition
Authors: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
Posted Date:
Students also viewed these general management questions
-
Leggere, an internet book retailer, is interested in better understanding the purchase decisions of its customers. For a set of 2,000 customer transactions, it has categorized the individual book...
-
Twyla Sands, owner of Cowboy Burger Company has contacted your accounting firm to review her fixed asset and accounts receivable records. Cowboy Burger is the home of the wildest burger variety in...
-
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...
-
- The first stream is $450 per year for 9 years and begins 5 years from today - The second stream begins 7 years from today with the first cash flow being $400, and with each successive cash flow...
-
Consider the system in Figure with H 0 (z), H 1 (z), and H 2 (z) as the system functions of LTI systems. Assume that x[n] is an arbitrary stable complex signal without any symmetry properties. (a)...
-
Samsung's 2016 Corporate Sustainability Report notes that the company spent 523 billion Korean won in 2015 for programs devoted to better health and education for children. Required Explain why a...
-
What is the difference between contribution margin and gross margin?
-
Cooper Construction is considering purchasing new, technologically advanced equipment. The equipment will cost $625,000 with a salvage value of $50,000 at the end of its useful life of 10 years. The...
-
What steps should Eco Chic handbags take to implement an effective budgeting process?
-
For each of the following lists of premises, derive the conclusion and supply the justification for it. There is only one possible answer for each problem. (1) 1. G F 2. F 3. _______ ____ (2) 1. S...
-
Among the teams in a bowling league, the probability that the uniforms are all one color is 0.45, that two colors are used is 0.35, and that three or more colors are used is 0.20. If a sample of 12...
-
Identify three risks , then describe mitigation measures you would take to prevent each risk from occurring (or lessening their impact). Use at least 200 words for each risk. Risk 1 [Insert Name of...
-
WyCo s fiscal year ends September 3 0 . On September 1 0 , it collects $ 3 0 , 0 0 0 for a painting job and credits Unearned Painting Revenue. As of September 3 0 , 6 0 % of the work has been done....
-
The potential macroeconomic benefits of generative artificial intelligence and machine-learning technologies are staggering, on par with transformative technologies that fed the industrial revolution...
-
BUSI 411 Extra Credit Assignment Options Instructions: Create a Word document and answer the following questions following APA formatting guidelines. Question 1 (a) Explain the term Option Greeks (b)...
-
Background: BrightFoods Inc. is a growing food distribution company that has decided to modernize its operations by implementing a new Information System (IS). The company aims to improve its...
-
Consider a retail store that sells five kinds of Apple Products (AirPod, Apple Watch, Mac, iPhone, and iPad). You are given a customer transaction data set shown in the following table. Customer ID 1...
-
You are maintaining a subsidiary ledger account for Police-Training Expenditures for 2013. The following columns are used: Inventory purchases are initially recorded as expenditures. Record the...
-
Goal Kick Sports (GKS) is a retail chain that sells youth and adult soccer equipment. The GKS financial planning group has developed a spreadsheet model to calculate the net discounted cash flow of...
-
Marilyn Marshall, a Professor of sports economics, has obtained a data set of home attendance for each of the 30 major league baseball franchises for each season from 2010 through 2016. Dr. Marshall...
-
The Dallas Mavericks and the Golden State Warriors are two teams in the National Basketball Association. Dallas and Golden State will play multiple times over the course of an NBA season. Assume that...
-
You throw a ball straight up with an initial speed of \(10 \mathrm{~m} / \mathrm{s}\). (a) What is the ball's instantaneous acceleration at instant \(t_{1}\), just after it leaves your hand; at...
-
Figure P3.76 shows graphs of the \(x\) component of acceleration as a function of time for two different carts rolling along a flat horizontal table. In which case is the change in the \(x\)...
-
You hold a puck at the top of an ice-covered ramp inclined at \(60^{\circ}\) with respect to the vertical. Your friend stands nearby on level ground and holds a ball at the same height \(h\) above...
Study smarter with the SolutionInn App