Suppose That an Analyst Classified a New Record Using the Following

question 26

Multiple Choice

Suppose that an analyst classified a new record using the following sequential steps (i) find identical records in the training sample, (ii) determine a group, to which majority of these records belong, (iii) assign the new record to the group in step (ii) . This technique is called

• A) naive Bayes
• B) Bayes
• C) conditional probability estimation
• D) posterior probability estimation

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Definitions:

Performance Measure

A quantifiable indicator used to evaluate the efficiency, performance, or success of an organization, employee, or process in achieving objectives.

Market Share Percentage

Market share percentage is the portion of a market controlled by a particular company, product, or brand, expressed as a percentage, indicative of competitiveness and market dominance.

Performance Measure

Metrics or indicators used to evaluate the efficiency, effectiveness, or success of an organization's activities.

Balanced Scorecard

A management system designed for strategic planning that ensures alignment of business operations with the organization's vision and strategy, enhances communication within and outside the organization, and tracks the organization's performance in relation to its strategic objectives.