Question

A credit card company receives thousands of applications for new credit card issue with attributes like salary, debts etc. Which machine learning technique would you suggest to categorize applications into good credit and bad credit

Answer 1

'Classification' is the machine learning technique that would be suggested to categorize applications into good credit and bad credit.

Explanation:

• 'Classification' is characterized as the machine learning technique that involves 'the act of forming into a class or classes; a distribution into groups, as classes, orders, families, etc. depending on the characteristics of each class.'
• This technique will help in classifying the applications depending upon the credit quality and other attributes of the applicants.
• It will assist in issuing the new credit cards more conveniently and rejecting people with a bad credit score.

Learn more: The "Regression" technique in Machine Learning is a group of algorithms that are used for

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