Exercisel: A company wants to estimate the probability that a customer will churn (switch to a different company) in the

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Exercisel A Company Wants To Estimate The Probability That A Customer Will Churn Switch To A Different Company In The 1 (398.33 KiB) Viewed 73 times

Exercisel: A company wants to estimate the probability that a customer will churn (switch to a different company) in the next six months. With a reasonably accurate prediction of a person's likelihood of churning, the sales and marketing groups can attempt to retain the customer by offering various incentives. Data on 8,000 current and prior customers was obtained. The variables collected for each customer follow: Age (years) Churned contacts (count)--Number of the customer's contacts that have churned (count) Churned (true/false)-Whether the customer churned Customer Age (Years) Churned Contacts Churned (true/false) True 1 50 1 2 30 3 True 3 28 6 False : : : 7999 20 1 False 8000 20 3 True Using your engineering statistical knowledge about regression, express a statistical model to achieve the goal of the company (Explain what the response variable (y) in your model and the tricks you use to convert your model into a regression equation). Answer e assume that after analyzing the data and fitting your model, you find that: y = 3.5 -0.16 x (Age) + 0.38 x (Churned_Contacts) Give a statistical interpretation about the impact of the age and Churned Contacts