All of the Following Statements About Data Mining Are True

question 67

Multiple Choice

All of the following statements about data mining are true EXCEPT:

• A)The term is relatively new.
• B)Its techniques have their roots in traditional statistical analysis and artificial intelligence.
• C)The ideas behind it are relatively new.
• D)Intense,global competition make its application more important.

---

Definitions:

Underapplied

A situation in cost accounting where the allocated overhead costs are less than the actual overhead costs.

Predetermined Overhead Rate

The predetermined overhead rate is a rate used to allocate manufacturing overhead costs to products or job orders, based on estimated overhead costs and activity levels.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the standard cost allocated, indicating inefficiencies or cost control issues.

Favorable

A term used in accounting to describe a situation where actual costs are less than the budgeted or standard costs.