Data Mining Looks for Hidden Patterns in the Data in a Data

question 75

True/False

Data mining looks for hidden patterns in the data in a data warehouse and discovers relationships among the data.

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Definitions:

Machine-Hours

A measure of production volume expressed in the total hours machines are operated within a given period.

Budget Variance

The difference between what was budgeted or forecasted and what was actually achieved, indicating over or underperformance.

Predetermined Overhead Rate

A calculated rate used to apply manufacturing overhead to products or job orders, based on a related activity measure such as labor hours.

Variable Manufacturing Overhead

The costs that vary with production volume, such as indirect materials, utilities, and labor involved in the manufacturing process.