A Company Relying on Large Volumes of Data for Tasks

question 14

Short Answer

A company relying on large volumes of data for tasks such as predictive modeling is likely using _______.

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Definitions:

Additional Satisfaction

The joy or utility gained from consuming one more unit of a good or service.

Diminishing Rate

A principle stating that as one factor of production increases, while others stay constant, the resulting increase in output will eventually decrease.

Total Utility

The entire pleasure derived from using a certain total volume of a good or service.

Total Utility

Total utility is the total satisfaction or benefit a consumer receives from consuming a particular quantity of goods or services.