Example: Credit Card Applications

For the next couple of sections, we are going to follow an example to learn machine learning concepts and to see how to use a package called sklearn.

Previously we talked about classification problems. A common classification problem that occurs for banks daily is the following: Should we give (insert person name here) a credit card? Usually the bank will decide this based on the person's credit score and income level. Let's build a system to automate this.

The first thing we are going to need is existing data on whether someone gets a credit card. Let's imagine the bank gave us the following applications and their results:

Credit Score Income ($) Approved?
700 80,000 Yes
650 50,000 Yes
800 50,000 Yes
550 40,000 No
570 70,000 No
500 75,000 No
840 90,000 Yes

Great. Continue to the next page to see how to build a classifier for this data!

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