Question
A data mining team hired by a marketing company built a model to predict which customers are likely to respond to a campaign. The company
A data mining team hired by a marketing company built a model to predict which customers are likely to respond to a campaign. The company plans to send promotion letters based on the model. The evaluation chart below shows the performance of the model (Response="Yes"). Given the results, assuming there are 200,000 customer names in the pool, how many letters should the company send and how should the company select customers for the promotion letter? why?
% Samples Found 100 80 60 40 20 0 O 20 40 60 % Samples Tested 80 100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Statistics For Managers Using Microsoft Excel
Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat
8th Edition
134173058, 978-0134173054
Students also viewed these Algorithms questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App