Which of the Following Is Included in the Data Mining

question 32

Multiple Choice

Which of the following is included in the data mining approach of data exploration and reduction?

• A) analyzing data to predict how to classify a new data element
• B) identifying groups in which the elements of the groups are in some way similar
• C) creating rules for target marketing based on association of variables
• D) developing analytic models to describe the relationship between metrics

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Definitions:

Variable Factory Overhead

Costs in manufacturing that vary with the level of production output, such as utilities and materials used in the production process.

Controllable Variance

The difference between actual budgeted costs and the controllable costs within a budget period.

Fixed Factory Overhead

Indirect manufacturing costs that remain relatively constant regardless of the level of production, such as rent, depreciation, and salaries of factory supervisors.

Volume Variance

The difference between the expected volume of sales or production and the actual volume, which can impact costs and profitability.