Prediction problems where the variables have numeric values are most accurately defined as *

classifications.

regressions.

associations.

computations.

What does the robustness of a data mining method refer to? *

its ability to predict the outcome of a previously unknown data set accurately

its speed of computation and computational costs in using the mode

its ability to construct a prediction model efficiently given a large amount of data

its ability to overcome noisy data to make somewhat accurate predictions

Identifying and preventing incorrect claim payments and fraudulent activities falls under which type of data mining applications? *

insurance

retailing and logistics

customer relationship management

computer hardware and software

All of the following statements about data mining are true EXCEPT

understanding the business goal is critical.

understanding the data, e.g., the relevant variables, is critical to success.

building the model takes the most time and effort.

data is typically preprocessed and/or cleaned before use.