Do you think this is a good approach for choosing a price? Can you identify any specific strengths or weaknesses of it?

7.2 k-Nearest Neighbors

Week 7 · Predictive Analytics, Part 1

Realtors often use this type of approach to determine the price at which to list a house that’s going on the market. They identify similar houses in the area that have sold recently and set the price based on the sale prices of these similar houses.

Do you think this is a good approach for choosing a price? Can you identify any specific strengths or weaknesses of it?

7.6 k-Nearest Neighbors in R

Week 7 · Predictive Analytics, Part 1

Try using k-NN on the Salaries.csv data set to predict employees’ salaries based on Age and Years Post-HS Education:

1. Import the data.
2. Partition it into a training set and a test set.
3. Find the value of kwith the lowest RMSE.
4. Import SalariesNew.csv.
5. Predict the salary of each of the 10 employees in that file, using k-NN with the value of kthat had the lowest RMSE.

Copy and paste your predictions into the text box.

7.7 Regression Trees

Week 7 · Predictive Analytics, Part 1