Data Mining

question 123

Multiple Choice

Data mining:

• A) is a relatively new method of inventory control
• B) uses complex mathematical models to help retailers make better product mix decisions
• C) is a computerized technique for making site location decisions
• D) determines the level of quality and service desired by customers
• E) measures levels of services and identifies inadequate service

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Definitions:

Voluntary Exchange

An economic transaction where two parties willingly trade goods or services without coercion, each party benefiting from the trade.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use.

Tariffs

Taxes imposed on imported goods, used by governments to regulate trade and protect domestic industries.

Foreign Supplier

An overseas entity that provides goods or services to another company or organization within a different country.