________ Involves Examining the Cluster Centroids

question 14

Multiple Choice

________ involves examining the cluster centroids.

• A) Interpreting and profiling the clusters
• B) Deciding on the number of clusters
• C) Assessing reliability and validity
• D) Selecting a clustering procedure

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Definitions:

Labor Resource

Human work effort, both physical and mental, utilized in the creation of goods and services.

Linear Production

A production process in which outputs are directly proportional to inputs, with a constant rate of output per unit of input.

Possibility Frontier

Also known as the production possibility frontier, it represents the maximum possible output combinations of two goods or services an economy can achieve with available resources and technology.

Production Possibility

The combination of goods and services that can be produced given available resources and technology, illustrating the trade-offs in production.