The First Step in the Data Mining Process Is to _____

question 22

Multiple Choice

The first step in the data mining process is to _____.

• A) identify relationships within the data
• B) modify or transform data
• C) decide between census data and sample data
• D) develop a model to explain the data relationships
• E) test the model's accuracy

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Definitions:

Supply

The total amount of a good or service available for purchase at any given price level in a given market.

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.

Elastic

Describes a situation in which the demand or supply for a good or service significantly changes in response to a change in price.

Coefficient

A numerical or constant factor in an equation that multiplies the variable, indicating the degree or level of some effect.