In ____________ Cluster Analysis, All of the Objects Start as Separate

question 80

Short Answer

In ____________ cluster analysis, all of the objects start as separate clusters on their own. and then the two clusters that are 'closest', or most similar to one another, are joined together to make a new cluster; then, the next two closest clusters are joined, and then the next two, and so on, until all clusters are joined together.

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Definitions:

Externalities

Costs or benefits arising from an economic activity that affect third parties who did not choose to incur that cost or benefit.

Economic Outcomes

The results or consequences of particular economic policies, decisions, or activities on the overall economy.

Pollution

Pollution denotes the introduction of harmful substances or products into the environment, leading to adverse effects on life and health.

Edgeworth Box

A diagram used in economics to show the efficient distribution of resources between two individuals or markets, based on their preferences and endowments.