Application of Statistical and Computational Methods to Predict Data Events

question 11

Multiple Choice

Application of statistical and computational methods to predict data events is:

• A) predictive analytics.
• B) descriptive analytics.
• C) prescriptive analytics.
• D) comparative analytics.

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Definitions:

Product Positioning

The process of marketing a product in a way that differentiates it from competitors in the minds of consumers.

Window Shoppers

Individuals who browse goods in stores without the intention of making a purchase.

Sensory Adaptation

Sensory adaptation is the process by which sensory receptors become less sensitive to constant stimuli over time.

Hedonistic Consumption

the practice of making purchases based on the desire for pleasure, enjoyment, or luxury rather than necessity.