Which of the Following Conditions Is Essential for Data Mining

question 22

Multiple Choice

Which of the following conditions is essential for data mining to work?

• A) The data must be collected from proprietary sources and not from data aggregators.
• B) The organization must leverage standard relational databases as opposed to inferior hierarchical and analytical databases.
• C) The events in the data should reflect current and future trends.
• D) The data mining software must necessarily incorporate ad hoc reporting tools and dashboards.
• E) The data should have passed the Die suite of stringent tests for randomness.

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Definitions:

Marginal Cost

The expense of fabricating another single unit of a product or service.

Average Variable Cost

The total variable costs of production divided by the quantity of output, showing the average cost of producing each unit excluding fixed costs.

Average Total Cost

The total cost of producing a certain quantity of a good divided by that quantity, representing the cost per unit of output.

Total Fixed Costs

The total of all expenses that do not change with the amount of production or output.