Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assigned Material: Retail Relay (C), UVA-M-UBBS Detection Detection: Measuring and Understanding the Predictive Accuracy of Customer Churn Models. Journal of Marketing Research Chapter 4: Decision

image text in transcribed
Assigned Material: Retail Relay (C), UVA-M-UBBS Detection Detection: Measuring and Understanding the Predictive Accuracy of Customer Churn Models. Journal of Marketing Research Chapter 4: Decision Trees - from introduction to Data Mining by Tan, Steinbach, and Kumar Assignment Questions: 1. Use the Relay train data to deveiop a model to predict customer retention. You may use logistic regression to predict the variable "retained." You can use any combination of the independent variables available in the data to obtain a model with the best predictive ability and usability. You are free to use different transformations and combinations of the independent variables. Be aware that there is no \"magic bullet" to finding the ideal model. You will have to go through multiple iterations. 2. Once you obtain the best model that you can find, predict retention in the test data. You will use the coefficients obtained from the model estimated using the train data to do this. Name this predicted value "pretain." 3. Calculate the hit rate. This can be calculated as % of matches between the value of pretain and retained in the train data. 4. Be prepared to present your results in class. The team with the best model, as judged by your peers, will win "bragging rights."

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

Principles of Marketing

Authors: Philip Kotler, Gary Armstrong

14th Edition

132167123, 132997266, 9780132997263, 978-0132167123

More Books

Students also viewed these Marketing questions

Question

LO12.5 Discuss the economic effects of monopoly.

Answered: 1 week ago

Question

LO12.1 List the characteristics of pure monopoly.

Answered: 1 week ago