In Market-Basket Terminology,the Conditional Probability Estimate of Buying an Item

question 84

Multiple Choice

In market-basket terminology,the conditional probability estimate of buying an item given you bought another one is called the ________.

• A)lift
• B)confidence
• C)support
• D)regression

Understand the evolutionary basis for human emotions like jealousy and promiscuity.

Evaluate the criticisms and limitations of evolutionary psychology.

Apply evolutionary psychology to understand relationship dynamics.

Understand how evolutionary psychology explanations can be applied to real-life situations.

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Definitions:

Profit Making

The activity of earning more money than what is spent on producing or buying goods or services, resulting in financial gain.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to significant changes in agriculture, manufacturing, mining, transportation, and technology, which had a profound effect on the socioeconomic and cultural conditions of the times.

Private Enterprise System

A system where private individuals or groups own and operate businesses with minimal government intervention, emphasizing profit and free market principles.

Invisible Hand

A term introduced by Adam Smith to describe the self-regulating nature of the marketplace that guides individuals to unintentionally benefit society through their personal gain.