QUESTION 1 Classification organizes data or information into predefined groups. True O False QUESTION 2 What are forecasts? A statistical process that finds the way to make a design, system, or decision as effective as possible for example, finding the values of controllable variables that determine maximal productivity or minimal waste. A statistical process for estimating the relationships among variables. Predictions based on time-series information. A statement about what will happen or might happen in the future such as future sales or employee turnover. QUESTION 3 What is data mining? A particular attribute of information The common term for the representation of multidimensional information The process of analyzing data to extract information not offered by the raw data alone. Use of a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making. QUESTION 4 What is prediction? A statistical process for estimating the relationships among variables. Forecasts based on time-series information, A statement about what will happen or might happen in the future such as future sales or employee turnover. A statistical process that finds the way to make a design, system, or decision as effective as possible, for example, finding the values of controllable variables that determine maximal productivity or minimal waste. QUESTION 5 Data visualization tools move beyond Excel graphs and charts into sophisticated analysis techniques such as ple charts, controls, instruments, maps, time-series graphs, and more. True False