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QUANTITATIVE ANALYSIS QUESTIONS

• There are 500 client records in the first worksheet of the Excel file (provided for this assessment) who have shopped many special products from an e-Business website. Each record includes data on types of product purchased (between 1-5), purchase amount ($), age, gender, marital status of the customer, whether the client has a membership and whether the customer has a discount card.
• Explain the steps on how to develop a KNN model to predict which customers will spend more than $700. (Write your answer as: Step 1-… Step 2- … and so on. You don’t need to run XLMiner and report the results.) (5 marks)
• Do you think the accuracy of the model will improve if we predict which customers will spend more than $500 rather than $700? Explain the reasons. You don’t need to run XLMiner and report the results. (3 marks)
• Develop a predictive model to predict the spend amount of a new female customer with age of 27 who is married and is not a member and hold a discount card type 3. (6 marks)

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