QuestionProblem Statement: Life Insurance Data The dataset belongs to a leading life insurance company. The company wants to predict the bonus for its agents so that it may design appropriate engagement activity for their high performing agents and upskill programs for low performing agents1. Problem Understandinga) Defining problem statement b) Need of the study/project c) Understanding business/social opportunity42. Data Reporta) Understanding how data was collected in terms of time, frequency and methodology b) Visual inspection of data (rows, columns, descriptive details) c) Understanding of attributes (variable info, renaming if required)23. Exploratory Data Analysisa) Univariate analysis (distribution and spread for every continuous attribute, distribution of data in categories for categorical ones) b) Bivariate analysis (relationship between different variables , correlations) a) Removal of unwanted variables (if applicable) b) Missing Value treatment (if applicable) d) Outlier treatment (if required) e) Variable transformation (if applicable) f) Addition of new variables (if required)104. Business insights from EDAa) Is the data unbalanced? If so, what can be done? Please explain in the con of the business b) Any business insights using clustering (if applicable) c) Any other business insightsComputer ScienceEngineering & TechnologyPython Programming CSE 15CS203J

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