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Which Approach to Data Analytics Attempts to Divide Individuals into Groups

question 21

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Which approach to data analytics attempts to divide individuals into groups in a useful or meaningful way?


Definitions:

Cost Estimation

The process of predicting the amount of resources, especially financial, required to complete a project or product development within specified constraints.

Scatter Diagram

A graphical representation used to show the relationship between two variables, helping to identify potential correlations.

Relevant Range

The range of activity within which the assumptions made about cost behavior in cost-volume-profit analysis are valid.

Cost Estimates

A predictive calculation of the anticipated expenses for a project or production, used for budgeting and planning purposes.

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