After Receiving All of the Data on Customer Purchases and Supplier

question 73

Multiple Choice

After receiving all of the data on customer purchases and supplier inventories, Sasha's job is to build a statistical model to help identify trends in sales and product demand. Which level of business analytics does this require?

• A) predictive analytics
• B) directive analytics
• C) definitive analytics
• D) prescriptive analytics
• E) descriptive analytics

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Definitions:

Utility Function

A representation in economics of how consumers rank different bundles of goods based on the level of satisfaction or utility they provide.

Budget Constraint

An equation that represents all combinations of goods and services a consumer can afford, given their income and the prices of the goods.

Income

The financial gain earned or received over a period of time, typically through work, investments, or business ventures.

Apples

A fruit produced by an apple tree, commonly enjoyed worldwide and used in various culinary dishes.