Predicting the Possible Existence of Fraud Is a Classification Predictive

question 24

True/False

Predicting the possible existence of fraud is a classification predictive analysis.

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Definitions:

Historical Data

Records of past events and conditions, used as a reference for research, analysis, planning, or forecasting.

Experimental Data

Data obtained through controlled tests or experimental studies where variables are manipulated to observe their effect on certain outcomes.

Probability

The determination of the probability an event occurs, specified as a number between 0 and 1.

Age Group

A range of ages into which individuals are categorized for the purpose of analysis or marketing.