Is a Collection of Techniques That Seek to Group or Segment

question 22

Multiple Choice

is a collection of techniques that seek to group or segment a collection of objects or observations into subsets, such that those within each subset are more closely related to one another than objects assigned to different subsets.

• A) Association
• B) Discriminant analysis
• C) Cluster analysis
• D) Logistic regression

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets including land, buildings, intellectual property, and other possessions.

Capital Goods

Human-made resources (electrical grids, the GPS system, rail networks) used to produce goods and services; goods that do not directly satisfy human wants; also called capital. One of the four economic resources.

Productive Efficiency

A situation in which a good or service is produced at the lowest possible cost and with the optimal combination of inputs.

Coordination Problem

A challenge faced by individuals or organizations when their interests conflict, requiring them to align their actions or decisions to achieve a common goal.