Examlex
A telecommunications company is developing a mobile app for its customers. The company is using an Amazon SageMaker hosted endpoint for machine learning model inferences. Developers want to introduce a new version of the model for a limited number of users who subscribed to a preview feature of the app. After the new version of the model is tested as a preview, developers will evaluate its accuracy. If a new version of the model has better accuracy, developers need to be able to gradually release the new version for all users over a fixed period of time. How can the company implement the testing model with the LEAST amount of operational overhead?
Elastic
Describes a situation where a change in one factor (such as price) leads to a relatively larger change in another factor (such as quantity demanded or supplied).
Inelastic
Refers to a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.
Price Elasticity
The responsiveness of the quantity demanded or supplied of a good to a change in its price, a key concept in understanding consumer and producer behavior.
Crude Oil
A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a fuel source.
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