Concept explainers
a.
Explanation of Solution
Given: The insurance records are evaluated to build the predicting model for the fraudulent claims. Only 1% is considered as fraudulent on the basis of the historic data.
The sample, n, which is applied, is 800. It classifies the values 310 and 270 as frauds and non-frauds, respectively. It misses 90 as frauds, where 130 records are found incorrect which are marked as fraud...
b.
Explanation of Solution
Given: The insurance records are evaluated to build the predicting model for the fraudulent claims. Only 1% is considered as fraudulent on the basis of the historic data.
The sample, n, which is applied, is 800. It classifies the values 310 and 270 as frauds and non-frauds, respectively. It misses 90 as frauds, where 130 records are found incorrect which are marked as fraud.
To find:Â The adjusted misclassification from the record of the predicating model.
Solution:
By analyzing the records from the classification matrix,
Predicted records of fraudulent without any record of non-fraudulent=310-90=220...
c.
Explanation of Solution
Given: The insurance records are evaluated to build the predicting model for the fraudulent claims. Only 1% is considered as fraudulent on the basis of the historic data.
The sample, n, which is applied, is 800. It classifies the values 310 and 270 as frauds and non-frauds, respectively. It misses 90 as frauds, where 130 records are found incorrect which are marked as fraud...
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Chapter 5 Solutions
Data Mining for Business Analytics: Concepts, Techniques, and Applications with XLMiner
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