Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Amanda Boleyn, an entrepreneur who recently sold her start-up for a multi-million-dollar sum, is looking for alternate investments for her newfound fortune. She is considering

Amanda Boleyn, an entrepreneur who recently sold her start-up for a multi-million-dollar sum, is looking for alternate investments for her newfound fortune. She is considering an investment in wine, similar to how some people invest in rare coins and fine art. To educate herself on the properties of fine wine, she has collected data on 13 different characteristics of 178 wines. Amanda has applied k-means clustering to this data for k = 1, ... , 10 and generated the following plot of total sums of squared deviations. After analyzing this plot, Amanda generates summaries for k = 2, 3, and 4. Which value of k is the most appropriate to categorize these wines? Justify your choice with calculations.

Do not round intermediate calculations. If required, round your answers to two decimal places.
k = 2
Cluster 1 to Cluster 2 Distance / Cluster 1 Average Distance =
Cluster 2 to Cluster 1 Distance / Cluster 2 Average Distance =
Average =
k = 3
Cluster 1 to Cluster 2 Distance / Cluster 1 Average Distance =
Cluster 2 to Cluster 1 Distance / Cluster 2 Average Distance =
Cluster 1 to Cluster 3 Distance / Cluster 1 Average Distance =
Cluster 3 to Cluster 1 Distance / Cluster 3 Average Distance =
Cluster 2 to Cluster 3 Distance / Cluster 2 Average Distance =
Cluster 3 to Cluster 2 Distance / Cluster 3 Average Distance =
Average =
k = 4
Cluster 1 to Cluster 2 Distance / Cluster 1 Average Distance =
Cluster 2 to Cluster 1 Distance / Cluster 2 Average Distance =
Cluster 1 to Cluster 3 Distance / Cluster 1 Average Distance =
Cluster 3 to Cluster 1 Distance / Cluster 3 Average Distance =
Cluster 1 to Cluster 4 Distance / Cluster 1 Average Distance =
Cluster 4 to Cluster 1 Distance / Cluster 4 Average Distance =
Cluster 2 to Cluster 3 Distance / Cluster 2 Average Distance =
Cluster 3 to Cluster 2 Distance / Cluster 3 Average Distance =
Cluster 2 to Cluster 4 Distance / Cluster 2 Average Distance =
Cluster 4 to Cluster 2 Distance / Cluster 4 Average Distance =
Cluster 3 to Cluster 4 Distance / Cluster 3 Average Distance =
Cluster 4 to Cluster 3 Distance / Cluster 4 Average Distance =
Average =

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Master A Tax Collector Report

Authors: B. Cobbey Crisler

1st Edition

1912297108, 978-1912297108

More Books

Students also viewed these Accounting questions