Which of the Following Is Not True About Cluster Analysis

question 49

Multiple Choice

Which of the following is not true about cluster analysis?

• A)it is a technique for grouping individuals or objects into unknown groups.
• B)there are two approaches to clustering- hierarchical and nonhierarchical.
• C)the centroid - the average value of the objects in a cluster on each of the variables making up each object's profile - is used to describe the clusters.
• D)there is a single approach to determining the appropriate number of clusters

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Definitions:

Total Costs

The comprehensive total of all spending required for the creation of goods or services, covering expenses that are both stationary and those subject to change.

Public Utilities

Entities that provide essential services to the public, such as water, electricity, and natural gas, often under government regulation.

Natural Monopolies

Industries where a single firm can supply the entire market at a lower cost than if there were multiple firms, often due to high fixed costs.

Natural Monopoly

A market condition in which a single firm can supply a product or service to an entire market at a lower cost than what would be possible if there were multiple firms.