Market Basket Analysis Is a Data Mining Technique for Determining

question 18

True/False

Market basket analysis is a data mining technique for determining which sets of products customers tend to purchase at the same time.

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Definitions:

Fisher's LSD

A statistical method for testing the significant differences between means in a set of three or more sample groups.

Tukey's Multiple Comparison

A statistical test used to find the differences between means in a set of data, controlling the error rate when making several comparisons.

Studentized Range Statistic

A measure used in statistics to identify outliers in a data set, calculated by dividing the range by an estimate of the standard deviation.

Critical Value

A critical value is a point on the distribution curve that separates the area where the null hypothesis is accepted from the area where it is rejected in hypothesis testing.