Determine Which Is the Best Approach for Each Problem

question 5

Multiple Choice

Determine which is the best approach for each problem.
-What attribute similarities group customers holding one or several insurance policies?

• A)supervised learning
• B)unsupervised clustering
• C)data query

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Definitions:

Cross-Price Elasticity

A measure of how the demand for one good responds to a change in the price of another good, reflecting substitutes or complements.

Demand

The quantity of a good or service consumers are willing and able to purchase at various prices during a specified time period.

Cross-Price Elasticity

A measure of how much the quantity demanded of one good responds to a change in the price of another good.

Hot Dogs And Mustard

A classic food pairing where the mustard serves as a condiment for the hot dogs, enhancing flavor.