Cluster Analysis Is a Data Mining Technique Used for

question 116

Multiple Choice

Cluster analysis is a data mining technique used for

• A) grouping together similar data
• B) segmentation of records within a data set
• C) designing effective marketing strategies
• D) all of the above

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Definitions:

Subsidy

A financial contribution granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.

Monopoly

A market structure characterized by a single seller who has exclusive control over the supply of a good or service and where entry by new competitors is obstructed.

Utility

A measure of satisfaction or happiness that a consumer derives from the consumption of goods and services.

Subsidy

A financial contribution granted by a government or other organization to support an economic activity, reduce the price of a commodity or service, or for other purpose deemed beneficial.