Trekking Blindly into Terabytes of Data to Sniff Out Meaningless

question 116

Multiple Choice

Trekking blindly into terabytes of data to sniff out meaningless relationships that occur just by accident is called ________.

• A)data mining
• B)data drudging
• C)data modeling
• D)normalizing

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Definitions:

Direct Labor Rate

The average cost paid per hour of direct labor, typically used in calculating the direct labor costs of producing goods or services.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require, aiming to more accurately reflect the resources consumed.

Direct Labor-Hours

The total number of hours worked by employees directly involved in the manufacturing process, often used as a basis for allocating labor costs to products.

Direct Materials Cost

The cost of raw materials used in manufacturing that can be directly traced to the finished product.