Which Approach to Data Analytics Attempts to Assign Each Unit

question 7

Multiple Choice

Which approach to data analytics attempts to assign each unit (or individual) in a population into a few categories?

• A) Similarity matching.
• B) Classification.
• C) Data reduction.
• D) Regression

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Definitions:

More Expensive

Refers to items or services that have a higher cost or price in comparison to others.

Budget Constraint

The cap on the various combinations of goods and services a consumer is capable of purchasing, dictated by their earnings and the costs of these products and services.

Shirts

Clothing items designed to cover the torso, typically with sleeves and a collar.

Marginal Utility

The gain in satisfaction or benefit from consuming one additional unit of a good or service.