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Explain classification as a data-mining tool

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Reference no: EM132964975

Problem 1: Write a short note on indicators and indexes used in forecasting.

Problem 2: Briefly explain classification as a data-mining tool with an example.

Problem 3: Calculate the economic value of a loyal customer for a company given that the customer purchases, on an average, worth $43 per visit and comes three times a year. The company's gross profit margin is 35 per cent with a customer defection rate of 0.4. (Enter answer with two decimals of the answer will be marked wrong)

Problem 4: What is Monte Carlo simulation?

Reference no: EM132964975

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