What happens after the testing phase has been completed and an acceptable model has been developed?
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What happens after the testing phase has been completed and an acceptable model has been developed?
The given process is a part of ML/AI.
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- Why is it a critical and challenging part of the model-building process to determine the appropriate values?The Ministry of Tourism in Trinidad and Tobago is interested in developing a campaign to increase the number of visitors to the island. The Ministry in collaboration with the island’s hotels collected data to be used as a guide to determine what steps should be taken going forward. Using the data in the Microsoft Excel file attached you are required to use the knowledge you have acquired during the semester to answer the following question. Ensure that your responses are detailed and all the necessary steps are clearly outlined. Derive a model for the estimation of the probability of returning to the island from the average money spent during the visit. Discuss why regression analysis is important in decision-making.Omitting a relevant variable(s) from a model dangerous than including an irrelevant variable(s). Do you agree? Why or why not?
- What can you say from the models given? Maybe about the multicollinearity.In terms of the model parameters, state the null hypothesis that, after controlling for sales and roe, ros has no effect on CEO salary. State the alternative that better stock market performance increases a CEO’s salary.State and explain the significance of the three basic principles of experimental design.
- Could you help me with this, please? & could you provide more details for me? thank you so much! One general belief held by observers of the business world is that taller men earn more money than shorter men. In a study reported in the Wall Street Journal, 30 MBA graduates, all about 30 years old, were surveyed and asked to report their annual incomes and their heights. These responses are recorded in MBA.xlsx. d Obtain three measures to check the fitness of the model. Do you think that this model is good enough to be used to estimate and predict income on the basis of height? If not, explain why not. If so, i predict the income of 183cm tall men with MBAs. ii estimate with 95% confidence the mean income of all 183 cm tall men with MBAs iii predict with 95% confidence the income of a 183 cm tall man with an MBA. Height Income ($) 175.0 68660 167.5 74820 172.5 69260 175.0 79620 162.5 69180 182.5 66700 160.0 71140 175.0 83680 172.5 70060…Identify and explain the significance of the three basic principles of experimental design.what are the attributes of a good econometric model?