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PG6680: Business Intelligence - Decision Support System - Business Assignment Help
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Assignment Task: What kind of applications suits using Expert System (ES) and why? Why is it easier to correct mistakes in ES than in conventional programs? You are given an Expert System (ES) with the following rules: Rule 1: IF interest rates fall, THEN bond prices will increase. Rule 2: IF interest rates increase, THEN bond prices will decline. Rule 3: IF interest rates are unchanged, THEN bond prices will remain unchanged. Rule 4: IF the dollar rises (against other currencies), THEN interest rates will decline. Rule 5: IF the dollar falls, THEN interest rates will increase. Rule 6: IF bond prices decline, THEN buy bonds. Rule 7: IF interest rates increase, THEN increase your mortgage payment. Rule 8: IF interest rates fall and dollar falls, THEN take a n investment loan and borrow more to invest. Answer the following question using the above ES:- A client has just observed that the dollar exchange rate is falling. He wants to know whether to take a new loan. Based on the rules above make a recommendation to him and explain your answer.
- A second client observed that interest rates are unchanged. She asks for advice on investing in bonds. What will the ES tell her? Provide an explanation about your answer.
- A travel agency has installed a Decision Support System (DSS) to support various activities of the travel agency and its customers. Part of the DSS is an expert system to provide information and advice on travel booking and travel decisions.
- Describe how this expert system can assist customers in travel booking.
- What type of knowledge needs to be stored in such an expert system?
- Name three limitations of such expert system.
- You are designing a DSS to generate an alert system for potential fraud. You work for the company mentioned in question 3, and they are detecting fraud in their travel insurance arm. List 2 different types of models you might employ, and what kinds of fraud that they might be used to detect. (Write your answer in no more than 2 pages)
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