Probability of theft in an area is 0.03 with expected loss of 20% or 30% of things with probabilities 0.55 and 0.45. Insurance policy from A cost $150 pa with 100% repayment. Policy with B, costs $100 pa and first $500 of any loss has to be paid by the owner. Which data mining technique can be used to choose the policy?
Geek Boy Staff asked 2 years ago Probability of theft in an area is 0.03 with expected loss of 20% or 30% of things with probabilities 0.55 and 0.45. Insurance policy from A cost $150 pa with 100% repayment. Policy with B, costs $100 pa and first $500 of any loss has to be paid by the owner. Which data mining technique can be used to choose the policy?
a. Clustering
b. Classification
c. Decision Tree
d. Association Rules Mining