Question 1

In market basket analysis, the measure of confidence is represented as ________.

Accepted Answer

Confidence in market basket analysis is calculated as the support of transactions including both the antecedent and consequent divided by the support of transactions that include the antecedent only. This measures how often items in the consequent appear in transactions that contain the antecedent.

Question 2

Association rules in market basket analysis are based on the concept that an antecedent and consequent share a co-occurrent relationship.

Accepted Answer

Association rules in market basket analysis indeed rely on the concept that an antecedent (if condition) and a consequent (then condition) occur together more frequently than would be expected by chance, indicating a co-occurrence relationship between the items involved.

Question 3

The goal of collaborative filtering is to recommend repeat purchases of services and products to a customer.

Accepted Answer

Collaborative filtering aims to predict the interests of a user by collecting preferences from many users. It does not specifically focus on recommending repeat purchases but rather on suggesting items that similar users have liked.

Question 4

Collaborative filtering is based on data such as what a user has purchased in the past, which items a user liked, and what other similar customers have viewed and bought.

Accepted Answer

Collaborative filtering operates on the principle of using past interactions and behaviors (such as purchases and likes) of a user and similar users to recommend items.

Question 5

The support measure in market basket analysis indicates the percentage of times the association rule is correct.

Accepted Answer

The support measure in market basket analysis indicates the frequency or proportion of transactions that contain a particular itemset, not the correctness of an association rule.

Question 6

End-of-aisle displays in a supermarket can increase product sales a by a maximum of 50 percent during the time that products are placed there.

Accepted Answer

End-of-aisle displays can increase product sales by more than 50 percent, depending on various factors such as product type, store layout, and customer behavior.

Question 7

Explain how Amazon employed collaborative filtering to customize product recommendations to shoppers.

Accepted Answer

The answer of Explain how Amazon employed collaborative filtering to...

Question 8

Identify and describe the limitations of collaborative filtering.

Accepted Answer

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Question 9

In market basket analysis, the measure of ________ indicates the percentage of times the association rule is correct.

Accepted Answer

Confidence in market basket analysis measures the percentage of times the association rule is found to be true, indicating the reliability of the rule when the antecedent is present in the data.

Question 10

The market basket analysis measure of lift ________.

Accepted Answer

Lift evaluates the strength of an association by comparing the observed support to the expected support if the items were independent.

Question 11

Based on the concept of market basket analysis, a customer who purchases bread should have immediate and easy access to ________.

Accepted Answer

Market basket analysis often reveals that customers who buy bread are likely to also buy butter, as these products are commonly used together. This analysis helps in product placement and recommendation strategies in stores.

Question 12

Describe how the measure of lift is computed in market basket analysis.

Accepted Answer

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Question 13

A supermarket is trying to mimic the "Target Effect" to boost its sales. It creates a special, fast checkout line for shoppers with toddlers and babies. Which of the following products should this checkout line display prominently?

Accepted Answer

The "Target Effect" involves encouraging impulse buys by placing relevant, tempting products along the path of shoppers. For a fast checkout line specifically for shoppers with toddlers and babies, displaying formula and diapers prominently makes sense as these are essential, often-needed items for this demographic, potentially increasing impulse purchases.

Question 14

Describe how the measure of support is computed in market basket analysis.

Accepted Answer

The answer of Describe how the measure of support is...

Question 15

To explore patterns between two or more products, market basket analysis uses association rules that employ ________.

Accepted Answer

Market basket analysis uses association rules that employ if-then statements to explore patterns between two or more products.

Question 16

An estimated 95 percent of supermarket product purchases are based on impulse decisions while in the store.

Accepted Answer

Most supermarket purchases are planned, with impulse buys accounting for a smaller percentage, typically estimated to be around 20% to 50%, depending on the study and product category.

Question 17

In market basket analysis, ________ measures the frequency of the specific association rule divided by the total number of transactions.

Accepted Answer

Support measures the frequency of the specific association rule (e.g., how often items are purchased together) divided by the total number of transactions in the dataset. It helps to identify how popular an itemset is within the entire dataset.

Question 18

Summarize practitioner Rob Taylor's views on the uses and benefits of market basket analysis.

Accepted Answer

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Question 19

In market basket analysis, the measure of support is represented as ________.

Accepted Answer

Support is calculated as the number of transactions containing both the antecedent and consequent divided by the total number of transactions in the dataset.

Question 20

Ben, age 65, is shopping for groceries online and adds a pack of pancake mix to his cart. Based on this information, identify an example of a promotional message that uses item to item collaborative filtering.

Accepted Answer

Item to item collaborative filtering recommends products based on what other customers bought alongside the initial item. In this case, recommending maple syrup because it is commonly purchased with pancake mix fits this description.

Quiz 9: Market Basket Analysis