SCENARIO 17-7 the Output Below Shows the Results of Cluster Analysis on Analysis

question 36

True/False

SCENARIO 17-7
The output below shows the results of cluster analysis on the different regions of the world (North
America, Asia Pacific, Western Europe, Central & Eastern Europe, Latin America, and Middle East
& Africa)based on the amounts (in billions of US dollars)and the percentage changes from prior
year of business-to-consumer ecommerce sales last year.
17-24 Business Analytics
-True or False: Referring to Scenario 17-7, the "complete" method is used to measure the
distance between clusters.

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Definitions:

Higher Education

Post-secondary education provided by universities and colleges that leads to an academic degree or vocational qualification.

Selfishness

The act of putting one's own needs and desires above the needs of others.

Self-Interest

The motivation of individuals to pursue their own welfare, benefits, or advantages, often used as a basic assumption in economics about human behavior.

Command Economy

An economic system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which goods are offered for sale.