The Purpose of Predictive Analytics Is _______ Decision Makers What

question 31

Multiple Choice

The purpose of predictive analytics is _______ decision makers what will happen in the future because predictive analytics are based on ________.

• A) not to tell; hard facts
• B) not to tell; probabilities
• C) to tell; hard facts
• D) to tell; probabilities

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Definitions:

Productivity

A measure of the efficiency of production, often quantified as the ratio of output to inputs in a manufacturing or production process.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

Bilateral Monopoly

A market structure in which there is only one buyer (a monopsony) and one seller (a monopoly), negotiating over the price and quantity of a specific product or resource.

Monopolists

Entities that are the sole providers of a particular product or service in a market, giving them significant control over market price.