A Restaurant Client Has Asked You to Develop a System

question 37

Multiple Choice

A restaurant client has asked you to develop a system that would provide smartphone alerts about special discounts to potential customers in the vicinity. Which of the following tools will provide the solution?

• A) Genetic algorithms
• B) Neural networks
• C) Location analytics
• D) Operational analytics
• E) Big data analytics

Identify and use appropriate methods for determining monthly and other periodic seasonal indexes.

Understand and interpret linear and quadratic models for time series data.

Understand the components of a time series (trend, cyclical, seasonal, and random variations) and their interactions.

Calculate and interpret deseasonalized values from given time series data.

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Definitions:

Microeconomics

The part of economics concerned with (1) decision making by individual units such as a household, a firm, or an industry and (2) individual markets, specific goods and services, and product and resource prices.

Aggregates

A broad category of coarse to medium-grained particulate material used in construction, including sand, gravel, crushed stone, slag, and recycled concrete.

Opportunity Cost

Opting for one opportunity causes the relinquishment of possible gains from not selected alternatives.

Production Possibilities Curve

The Production Possibilities Curve (PPC) is a graphical representation that shows the maximum quantity of two goods or services that can be produced with limited resources.