In Order to Be Applied Successfully,a Data Mining Study Must

question 5

True/False

In order to be applied successfully,a data mining study must be viewed as a set of automated software tools and techniques.

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Definitions:

Standard Costs

Estimated or predetermined costs of manufacturing, selling, or doing something, which are used for budgetary and costing purposes.

Cost System

A method used by firms to track, record, and analyze costs associated with their operations, typically to improve efficiency or profitability.

Kilos

A metric unit of mass equal to one thousand grams or approximately 2.20462 pounds.

Direct Materials

Raw materials that can be directly traced to the production process and are a significant part of the finished product.