EXERCISES
CLARIFYING THE CONCEPTS
- What are the two main objectives of the bank_marketing analysis, as stated in the Problem Understanding Phase?
- What are the three ways we plan to accomplish the objective of learning about our potential customers.
- Explain how we plan to accomplish the objective of developing profitable models for identifying likely positive responders.
- Describe two reasons why it might be a good idea to add an index field to the data set.
- Explain why the field days_since_previous is essentially useless until we handle the 999 code.
- Why was it important to reexpress education as a numeric field?
- Suppose a data value has a z‐value of 1. How may we interpret this value?
- What is the rough rule of thumb for identifying outliers using z‐values?
- Should outliers be automatically removed or changed? Why or why not?
- What should we do with outliers we have identified?
WORKING WITH THE DATA
For the following exercises, work with the bank_marketing_training data...