Identifying the Largest or Smallest Values Is Referred to as ________

question 3

Multiple Choice

Identifying the largest or smallest values is referred to as ________ and is an example of ________ analytics.

• A) sorting; diagnostic
• B) sorting; descriptive
• C) summary statistics; diagnostic
• D) summary statistics; descriptive

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Definitions:

Trend Adjustment

A statistical technique used to remove effects of trends in time series data, allowing for better analysis and forecasting of the underlying patterns.

Smoothing Constants

Parameters used in exponential smoothing models to control the rate at which past observations are decayed or discounted.

Regression Equation

A mathematical formula that describes the relationship between one dependent variable and one or more independent variables, typically used for prediction or forecasting.

R-Square

A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.