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:

Price Floor

A government-imposed limit below which prices cannot fall, often set to protect producers.

Rent

A periodic payment made by a tenant to a landlord for the use of land, a building, or other property.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.