Which Approach to Data Analytics Attempts to Characterize the Typical

question 10

Multiple Choice

Which approach to data analytics attempts to characterize the typical behavior of an individual,group or population by generating summary statistics about the data?

• A) Classification
• B) Regression
• C) Profiling
• D) Link prediction

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Definitions:

Market Failure

A situation in which market forces, such as supply and demand, fail to allocate resources efficiently, often justifying government intervention.

Pareto Efficiency

A situation where resources are distributed in such a way that improving the condition of any one individual or meeting a preference more fully would result in detriment to at least one other individual or preference.

Socially Efficient

A situation where resources are allocated in the most effective manner, maximizing overall social welfare.

Overestimates

Assessments or calculations that exceed the actual value or amount of something.