Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Step 5 : Now, click the red triangle menu and choose Display Options > Show Tree. Don t be alarmed, but it won t fit

Step 5: Now, click the red triangle menu and choose Display Options > Show Tree. Dont be alarmed, but it wont fit on your screen very well. Take a screenshot of the top node labeled All Rows and paste it into the space below (again, just the one box that says All Rows at the top). IMPORTANT: If you click Split, Prune, or Go, youll have to Redo the Analysis.
Step 6: Theres a lot to dive into here, but well keep it simple and accept the Decision Tree that JMP has given us. This might look very intimidating, but this Decision Tree is just like the one we went over in the Classification Trees lecture video it just looks a little different! Let me provide a quick recap/description of how the tree is formatted in JMP Pro:
Each node is giving us the criteria for entry into the node (the bold label text), along with some key metrics: the number of people in our Training Sample that meet the criteria to sort into this node (which means they meet all the criteria from the nodes higher in the Tree as well), the Mean credit score of those qualifying individuals (which doubles as the predicted value at that node), and the Standard Deviation of credit scores within those qualifying individuals.
So, with that in mind, use the Decision Tree to predict the credit score of an individual who has had 5 credit bureau inquiries, has used 10% of her available credit, has $14,500 of total available credit, has no collection reports or missed payments, is a homeowner, has an average credit age of 6.5 years (i.e. CreditAge=6.5), and has worked continuously for the past 5 years (i.e. TimeOnJob=5). Enter your estimate for the credit score, i.e. the Mean of the final node reached by the individual described above, into the space below, rounding your answer to two decimal places.
image text in transcribed

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

Fundamental Managerial Accounting Concepts

Authors: Edmonds, Tsay, olds

6th Edition

71220720, 78110890, 9780071220729, 978-0078110894

More Books

Students also viewed these Accounting questions