If RFclass Is an Output Object Created by the RandomForest

question 13

Multiple Choice

If RFclass is an output object created by the randomForest command, typing plot(RFclass) will generate an error rate plot. What is this plot used for?

• A) Used to determine the needed size of minbucket
• B) Used to determine the needed size of mtry
• C) Used to determine the needed size of ntree
• D) None of the above

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Definitions:

Elasticity of Demand

Elasticity of Demand measures how much the quantity demanded of a good responds to a change in the price of that good, indicating how sensitive consumers are to price changes.

Necessity

An essential requirement or need for something.

Luxury Good

A good for which demand increases more than proportionally as income rises, often seen as non-essential but desirable.

Price Elasticity Coefficient

A measure that quantifies the responsiveness of the quantity demanded of a good to a change in its price.