Data Gathered from Various Telecommunication Companies (E

question 2

Multiple Choice

Data gathered from various telecommunication companies (e.g.cable, phone, internet service providers) and utility companies (electric, fuel, etc.) were merged into
One data warehouse.Below are some of the variables for which data were collected.
Which is/are transactional?

• A)Type of cell phone plan.
• B)Zip code.
• C)Household income.
• D)Both A and B

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Definitions:

Posterior Probabilities

Refers to the probabilities of events occurring after taking into consideration new evidence or information.

Expected Monetary Value

A calculated average of all possible outcomes under uncertainty, considering the probabilities and impacts of those outcomes.

Optimal Act

The best possible action or decision in a given situation, often based on maximizing efficiency or effectiveness.

Expected Value

The long-term average value of a random variable over many repetitions of an experiment.