Group project where my part is to retention predictions

Learning Goal: I’m working on a r project and need a sample draft to help me learn.

Submit the first chapter of the project report here. Read the project description to understand what is required to be included in this chapter. Your report chapter should be written in the provided template. I will not grade this individual submission, but I’ll review it and give you feedback. However, if your group fails to submit it by the due date, you’ll lose 30 points (10% of the final project score).

Business Case: This chapter includes an introduction, a definition of the business problem, a description of your approach for solving the problem, and performance metrics that you choose to evaluate your model based on the business context.

Questions that you should think about and address in this chapter are:

  • What is the definition of FTIC student retention and why is it important for universities?
  • What is the overall FTIC retention rate at Bright Future University (BFU)? You can use excel or R to answer this question. Retention rate is defined as:

Retention Rate = Number of Students Retained Next Fall / Total Number of Students Enrolled this Fall

  • How much it will cost for BFU to lose one FTIC student after the first year? Note that BFU is an imaginary university, however, to answer this question you can assume BFU is a state university in Texas. Then do a web search to estimate the average tuition fee of public universities in Texas. Then estimate the cost for BFU. You don’t need to come up with exact numbers, but your method of estimation is important. You should describe it clearly.
  • What is the business problem your team is hired to solve?
  • How is your team planning to help BFU to solve the problem?
  • What other universities are doing to improve their retention rate? Use google and write at least one real example
  • What are the real-life applications of machine learning tools or data mining predictive programs to improve retention rates? Use google and write at least one example
  • What are the metrics you want to use to evaluate the performance of your prediction algorithm? Note: In the provided data set, “not retained” is equal to 1. This means “not retained” is the label for the positive class. So, look at the performance evaluation metrics and pick one or two that serves your purpose in this project.
  • A brief description of the report chapters.
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