I would like to use R to do the following analysis:
A bank has 5 different investment products and I want to do an analysis to see the characteristics of individuals who are buying the investment products.
So I have Product A, Product B, Product C, Product D and Product E which are my dependent (target) variable.
I have the following independent variables of the individuals: - Age - Gender - Occupation - Geographical Area (of residence) - Marital Status
I would like to know the type of model that I can use in R so that I will be able to predict the type of investment product that would be bought by a 36-year old married woman who lives in Province A and is an Accountant. Please note that the dependent variable is nominal and has more than 2 levels.
I would also want to know how best I can validate the model in R