Data Mining Typically Splits a Data Set in Half, Finds

question 58

True/False

Data mining typically splits a data set in half, finds patterns in one half, and then tests the validity of those patterns by trying to find them again in the second half of the data set.

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Definitions:

Merchandise

Goods that are purchased for resale at a profit; the main product that a retailer sells.

Sales on Account

Transactions where goods are sold and payment is deferred to a future date; this is typically tracked through accounts receivable.

Beginning Inventory

The value of a company's inventory at the start of an accounting period, before any purchases or sales have occurred.

Projected Sales

An estimate of the amount of revenue that a company expects to earn in a future period from the sale of goods or services.