Identify How Firms Use Predictive Analysis

question 105

Multiple Choice

Identify how firms use predictive analysis.

• A)to provide an educated guess regarding what is expected to occur in the near future
• B)to engage in data warehousing
• C)to engage in a low-cost strategy
• D)to design the most effective accounting information system

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Definitions:

Price

The price to be paid to secure a good, service, or asset.

Leftover Income

Leftover Income refers to the amount of income remaining after all expenses and taxes have been paid.

Budget Constraint

An economic model that represents all the combinations of goods and services a consumer can afford given their income and the prices of goods.

Bundle

A collection of products or services sold as a single package deal, often at a discounted price.