Data ___ Is the Process of Analyzing Data for Patterns

question 103

Short Answer

Data ___ is the process of analyzing data for patterns, predictions, and insights useful for decision makers.

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Definitions:

Committed Fixed Costs

Long-term fixed costs that cannot be easily altered in the short term, such as leases, depreciation on equipment, and salaries of permanent employees.

Short Run

A period in which at least one factor of production is fixed, allowing limited adjustments to production or operational levels.

Variable Costs Per Unit

The costs that vary directly in proportion to changes in the level of production or sales volume.

Activity

A task, action, or operation performed in a business or industrial context, often contributing to a larger set of operations.