A __________ Classifies a Categorical Outcome Variable by Splitting Observations

question 26

Multiple Choice

A __________ classifies a categorical outcome variable by splitting observations into groups via a sequence of hierarchical rules.

• A)regression tree
• B)scatter chart
• C)classification tree
• D)confusion matrix

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Definitions:

Economic Roles

The functions and responsibilities different entities (like individuals, firms, and governments) play in the economy.

Taxable Income

The portion of an individual or company's income used to determine how much tax is owed to the government in a given tax year.

Federal Income Tax

A tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities. Tax rates vary based on income levels and types of filers.

Progressive Tax

A tax system where the tax rate increases as the taxable amount increases, typically aimed at ensuring higher earners pay a larger percentage of their income in taxes.