Prescriptive Analytics

question 14

Multiple Choice

Prescriptive analytics:

• A) summarizes data into meaningful charts and reports that can be standardized or customized.
• B) identifies patterns and relationships existing in large data sets.
• C) uses data to determine a course of action to be executed in a given situation.
• D) detects patterns in historical data and extrapolates them forward in time.

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Definitions:

Imposed

Placed or set upon as an obligatory requirement, often by authority.

Good

An item or product that is produced and consumed to satisfy human wants or needs.

Proportional

An attribute of a relationship where changes in one variable are associated with consistent, proportional changes in another variable.

Flat Tax Structure

A tax system with a constant marginal rate, usually applied to individual or corporate income.