SCENARIO 14-5 The Output Below Shows the Results of the Neural Network

question 160

Short Answer

SCENARIO 14-5
The output below shows the results of the neural network model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No") into its bundled program offering based on the price ($30, $40, $50, $60) and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No") using the data set of
100 customers collected from a survey.
-Referring to SCENARIO 14-5, the misclassification rate of 0.2058824 in the validation data set means that how many customers in the validation data are incorrectly classified?

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Definitions:

Engel Curve

A graph that illustrates how household expenditure on a particular good or service varies with income.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.

Quantity Demanded

The specific amount of a good or service that consumers are willing to purchase at a given price point, at any given moment.

Price-Consumption Curve

A curve that shows how a consumer's optimum basket varies with changes in the price of a good, holding other factors constant.