This Data Transformation Technique Works Well When Minimum and Maximum

question 9

Multiple Choice

This data transformation technique works well when minimum and maximum values for a real-valued attribute are known.

• A) min-max normalization
• B) decimal scaling
• C) z-score normalization
• D) logarithmic normalization

---

Definitions:

Noncollusive Oligopoly

A market structure where a few firms dominate but do not explicitly coordinate their pricing and output decisions, leading to competitive but interdependent market outcomes.

Game Theory

A branch of mathematics and economics that studies the strategic interactions among rational decision-makers, aiming to predict their choices of action given the rules of the game and the actions of others.

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially collaborative behavior that influences prices and production.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged, indicating an optimal strategy set for all players.