What Is Predictive Analytics

question 16

Multiple Choice

What is predictive analytics?

• A)A world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention
• B)Extracts information from data and uses it to predict future trends and identify behavioral patterns
• C)Refers to devices that connect directly to other devices
• D)Opportunities to change the way people purchase books

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Definitions:

Beginning Work

Refers to the initial inventory of goods that are in the process of production at the start of a financial period.

First-in

Often related to inventory management, indicating the principle that the first items produced or acquired are the first to be used or sold.

Processing Department

A division or section in a manufacturing facility where a specific type of processing or production takes place.

Equivalent Units

A method in cost accounting used to compute the work done by the production in terms of fully manufactured units, considering both completed and in-progress goods.