Cluster Analysis Is Defined as _______

question 38

Multiple Choice

Cluster analysis is defined as _______.

• A)the process of discovering groups (termed clusters in data science) of similar items in a set of data; items in the same group are similar, while items in different groups are not as similar.
• B)the process of discovering individual pieces of similar items in a set of data; items in the same group are similar, while items in different groups are not as similar.
• C)analyzing management techniques and administrative policies simultaneously
• D)determining which package of audit services can be sold to a client at the best possible price

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Definitions:

Manufacturing Overheads

Indirect costs related to the production process, including utilities, depreciation of machinery, and factory rent.

Finished Goods

Products that have undergone the manufacturing process and are ready for sale to consumers.

Raw Materials

Basic substances in their natural, modified, or semi-processed states used as an input in the manufacture of goods.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to allocate projected overhead costs to products or services based on expected activity levels.