Data Mining Typically Splits a Data Set in Half, Finds

question 58

True/False

Data mining typically splits a data set in half, finds patterns in one half, and then tests the validity of those patterns by trying to find them again in the second half of the data set.

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Definitions:

Periodic System

An inventory system where the inventory count is physically updated at specific intervals, and costs of goods sold are calculated at the end of the accounting period.

Moving Average System

A method used in accounting and finance to smooth out data by generating a series of averages of different subsets of the full data set.

Freight-In Costs

Expenses associated with transporting goods from the supplier to the purchaser, typically included in the cost of inventory.

Freight-Out Costs

Expenses related to the transportation of goods from the seller to the buyer, typically recorded as a selling expense.