What Is the Process of Analyzing Data to Extract Information

question 359

Multiple Choice

What is the process of analyzing data to extract information NOT offered by the raw data alone?

• A)Data integrity
• B)Data mart analysis
• C)Data mining
• D)Data extraction

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Definitions:

Pareto Optimal

In resource distribution, a framework where the betterment of one party directly causes a disadvantage to another party.

Initial Allocation

The initial distribution of resources, goods, or assets among various parties or agents in an economic model or real-world scenario.

Pareto Optimal Allocations

A situation where it is impossible to make any one individual better off without making at least one individual worse off, indicating an efficient allocation of resources.

Edgeworth Box

A diagram used in microeconomics to show how different allocations of goods can lead to efficiency or inefficiency within a market.