Suppose you are building an ML algorithm that classifies auto loan applications as accepted or rejected. The training data set includes several thousand observations taken from prior applications, and the data set includes characteristics of the applicant $($e$.$g$.,$ income, credit rating, debt$-$to$-$equity ratio$)$ and the associated decision made by an experienced loan officer $($dependent variable$).$ What type of learning is used to train this algorithm?

A$.$

Random learning

B$.$

Stochastic learning

C$.$

Supervised learning

D$.$

Unsupervised learning