Question: The Excel data file Problem 2 - KNN Estimation (k=1,...,7) contains information about 10 credit card holders. Based on the k-NN method, what would be

The Excel data file Problem 2 - KNN Estimation (k=1,...,7) contains information about 10 credit card holders. Based on the k-NN method, what would be the predicted (estimated) average debt of a new customer who is 40 years old and has 3 children for values k = 1, 2, , 7? Solve the problem using Excel only, i.e., without Analytic Solver. 10 Observations Observation Average Credit Card Debt Age Number of Chidren 1 $1,041 61 4 2 $1,837 38 1 3 $515 46 2 4 $200 31 1 5 $1,947 28 0 6 $0 50 3 7 $1,326 42 1 8 $1,746 35 0 9 $546 45 2 10 $1,788 29 1 New Obsrvation ???? 40 3 Expert Answer

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