Statistics Review – Part 2 The following questions all pertain to the Samuel L.
ID: 3298976 • Letter: S
Question
Statistics Review – Part 2
The following questions all pertain to the Samuel L. Card credit card
(from Samuel L. Jackson Bank)
1.The “credit worthiness” (i.e., “Approved” or “Not Approved”) of an applicant would be considered the ______________ variable in the experiment.
2.The answer to the previous question is typically represented in formulas by the letter______.
3.If Samuel L. Card used historical data from past customers to determine the “credit worthiness” of new applicants, the historical data would be called _____________ data.
4.In order to build a data mining model, Samuel L. Card’s software would make “guesses” of credit worthiness to compare to historical data. These guesses are called ______________ data.
5.When Samuel L. Card uses its finished data mining model to determine the credit worthiness of new applicant, the new applicant data would be called _______ data.
Explanation / Answer
Dear student,
According to Chegg guidelines, only the first four subparts are solved completely.
1, 1.The “credit worthiness” (i.e., “Approved” or “Not Approved”) of an applicant would be considered the Boolean lvariable in the experiment.
2,The answer to the previous question is typically represented in formulas by the letter T/F.
3,.If Samuel L. Card used historical data from past customers to determine the “credit worthiness” of new applicants, the historical data would be called training data.
4,.In order to build a data mining model, Samuel L. Card’s software would make “guesses” of credit worthiness to compare to historical data. These guesses are called test data.
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