The Goal of Data Mining Is

question 9

Multiple Choice

The goal of data mining is

• A) to produce lower marketing costs.
• B) increase efficiency by identifying customers that are more likely to buy.
• C) devise more creative direct mail.
• D) to sell products at a higher price.
• E) both A and B are goals of data mining

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Definitions:

Money Supply

The entire sum of available monetary assets in an economy, comprising cash, coins, and the amounts held in checking and savings accounts, at a specific point.

Standard of Value

A recognized measure that is used to set the value of financial transactions, assets, or liabilities, enabling comparability across different entities or time periods.

Backed by Gold

Historically, refers to currencies that were directly convertible into a specified amount of gold, under the gold standard.

Precautionary Motive

The desire to hold liquid assets as a safeguard against unforeseen emergencies or as a precaution against future financial uncertainties.