Exam 5: Data Mining

Using data mining on data about imports and exports can help to detect tax avoidance and money laundering.

List four myths associated with data mining.

Interval data is a type of numerical data.

In the 2degrees case study, the main effectiveness of the new analytics system was in dissuading potential churners from leaving the company.

In ________, a classification method, the complete data set is randomly split into mutually exclusive subsets of approximately equal size and tested multiple times on each left-out subset, using the others as a training set.

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

Data are often buried deep within very large ________, which sometimes contain data from several years.

The entire focus of the predictive analytics system in the Infinity P&C case was on detecting and handling fraudulent claims for the company's benefit.

Market basket analysis is a useful and entertaining way to explain data mining to a technologically less savvy audience, but it has little business significance.

In data mining, classification models help in prediction.