5.4 Consider Figure 5.12, the decile-wise lift chart for the transaction data model, appliedto new data.9Mean Response0 1 2 3 4 5FIGURE 5.121 2 3 4 56 78 9 10PercentileDECILE-WISE LIFT CHART FOR TRANSACTION DATAa. Interpret the meaning of the first and second bars from the left.b. Explain how you might use this information in practice.c. Another analyst comments that you could improve the accuracy of the model byclassifying everything as nonfraudulent. If you do that, what is the error rate?d. Comment on the usefulness, in this situation, of these two metrics of model per-formance (error rate and lift).

As per Honor code of Bartleby, as an expert we are allowed to answer only the first 3 questions if a…

Answered: Consider Figure 5.12, the decile-wise…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The director of surgery at a local hospital is interested in understanding his unit’s costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $ 1,006,000 Coefficient on procedures $ 230 Statistical data Correlation coefficient 0.518 R2 0.268 The unit is planning to perform an average 18,5000 procedures per month for the coming year. Required A: Use the regression output to write the surgical unit cost equation. Surgical unit cost = ____________ + __________ x Procedures Required B: Based on the cost equation,…

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