EBTM 350 Final Exam study Guide With Complete Solution
Spreadsheet engineering - Answer the process of developing good, useful, and correct spreadsheet model characterizes the rela. b/t inputs and outputs it is important to reference the data for clients parasitize the model and clearly separate the data Newsvendor - Answer problems w/ a single period decision b/c of uncertain demand (seasonal retail inventory) loss from too much inventory or loss from too little, too much demand Data mining - Answer extracts patterns from data can be explanatory or predictive Types of patterns: 1) association- commonly occurring groups of thins 2) prediction- nature of future occurrences baed on what has happened in the past 3) cluster (segmentation)- identify natural groupings of things based on characerisitics 4) sequential- discover time-oreiented events
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