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Type of data mining model

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1. Bank of America wants to develop a model to predict whether a customer will stay with the company for another 6 months (represented as 1) or switch to the competitor bank in the next 6 months (represented as 0) using the number of bank accounts (x1) and age of the individual (x2) as predictor variables. What type of data mining model should Bank of America use?

A. Cluster Analysis

B. Association Rule Mining

C. Regression

D. Classification

2. Bank of America wants to develop a model to categorize customers into segments where each customer segment is developed based on similarities between the customers so that the degree of similarity is high among members of the same group and low among members of different groups. What type of data mining model should Bank of America use?

A. Classification

B. Cluster Analysis

C. Association Rule Mining

D. Regression

Reference no: EM133092454

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