Data Mining Applications Are Used to Accomplish Which of the Following

question 28

Multiple Choice

Data mining applications are used to accomplish which of the following tasks?

• A)Perform what-if analysis
• B)Make predictions
• C)Facilitate decision making
• D)A and B
• E)A,B and C

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Definitions:

Socially Efficient

A situation in which an allocation of resources maximizes total social welfare, taking into account both the benefits and costs to society as a whole.

Marginal Costs

The increase in cost due to the production of an extra unit of a product or service.

Movie Theatres

Venues equipped with a screen for exhibiting films to audiences, providing a range of visual and auditory experiences.

Natural Monopolist

A single firm that can supply a product or service to an entire market at a lower cost than two or more firms, due to economies of scale.