ATT Supermarket Has Collected a Large Amount of Data Regarding

question 11

Multiple Choice

ATT Supermarket has collected a large amount of data regarding its customers. To understand customer purchase behavior, the company uses a process that automatically identifies correlations in the collected data. Through this process, the company learns that people who wait for more than 10 minutes in the billing queue, tend to remove a few items from their shopping cart. Consequently, this leads to reduced sales. The manager of the supermarket decides to install five more billing counters, which could reduce the estimated wait time by a considerable amount. In this scenario, ATT Supermarket has most likely used _____ to process information.

• A) data mining
• B) data integration
• C) bar coding
• D) radio frequency tagging

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Definitions:

Real Rate of Return

The annual percentage growth rate of an investment adjusted for inflation, providing a more accurate measure of the investment's profitability.

Rate of Inflation

The pace at which the overall price level of goods and services increases, diminishing the buying power.

Probability Distribution

A statistical descriptor that comprehensively outlines all viable outcomes and their likelihoods for a random variable within a set boundary.