Author Question: How can data mining be useful to a business or other organization? What are some of the analytical ... (Read 60 times)

yoroshambo · **on:** Aug 1, 2018

How can data mining be useful to a business or other organization? What are some of the analytical tools it employs?

Question 2

If a sample containing 12 observations is taken from a normally distributed population and a 99 confidence estimate for is needed, the appropriate t-score is:
a. 2.681.
b. 2.718.
c. 3.169.
d. 3.055.
e. 3.106.

brittrenee · **Reply #1 on:** Aug 1, 2018

Answer to Question 1

Data mining is analogous to physically sifting through great quantities of ore in the quest for gold. It utilizes information and techniques such as descriptive statistics, cross-tabulations, regression, and correlation, but also includes many advanced methods such as factor analysis, cluster analysis, discriminant analysis, and multidimensional scaling, for the purpose of uncovering patterns and discovering interrelationships within the data.

Answer to Question 2

E