Answer Happy

A Toyota dealer wished to predict the sales prices of used Toyota Corollas and gathered 1,436 observations concerning sales prices of used Corollas and the values of 36 predictor variables. Sixty percent of the observations (actually 862 observations) were randomly selected as the training data set, and the remaining 40 percent of the observations (574 observations) were used as the validation data set. A portion of the data, as well as part of a JMP regression tree analysis of the data, are shown in Figures 5.24 and 5.25. The default minimum split size of 5 was used. a. Using the information given in Figures 5.24 and 5.25, find the prediction of the sales price of used Toyota Corolla 1437, which has just been obtained by the Toyota dealer and has not yet been sold. Prediction of the sales price b-1. Redo the regression trees analysis and part a using a specified minimum split size of 20. Find the prediction of the sales price of used Toyota Corolla 1437, which has just been obtained by the Toyota dealer and has not yet been sold. Prediction of the sales price The prediction using a minimum split size of 20 is greater than the default minimum split size of 5.