Predictive Analytics Use Techniques That Extract Information from Data and Use

question 140

True/False

Predictive analytics use techniques that extract information from data and use it to predict future trends and identify behavioral patterns.

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Definitions:

Equilibrium Quantity

The amount of products or services that are provided and requested at the balance price.

Flooding

The overflowing of water beyond its normal confines, typically over what is normally dry land.

Quantity Supplied

The total supply of a good or service that producers are prepared to sell at a designated price over a fixed timeframe.

Quantity Demanded

The total amount of a good that buyers are willing and able to purchase at a given price within a specific time period.