Market Basket Analysis

Market Basket Analysis

Assessment

Interactive Video

Engineering, Information Technology (IT), Architecture, Social Studies

University

Hard

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The video tutorial explains the implementation of the Apriori algorithm for market basket analysis. It covers creating a dataset, preprocessing data using transaction encoding, and applying the Apriori algorithm to find frequent itemsets. The tutorial also discusses generating and analyzing association rules to gain insights into product placement and cross-selling opportunities.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of using the Apriori algorithm in market basket analysis?

To reduce the cost of items

To improve customer service

To identify frequent item combinations

To increase the number of transactions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in preparing data for the Apriori algorithm?

Generating association rules

Data preprocessing

Calculating lift

Setting minimum confidence

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which module is used to import the Apriori and association rules functions?

Pandas

NumPy

MLxtend

SciPy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a minimum support of 30% indicate in the Apriori algorithm?

Items must appear in at least 30% of transactions to be considered frequent

Items must be purchased together 30% of the time

The algorithm will only consider 30% of the data

The confidence level is set to 30%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a high lift value indicate in association rules?

Items are less likely to be bought together

Items are more likely to be bought together

The rule is not significant

The rule has low confidence

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which items were found to be highly correlated in the analysis?

Cookies and milk

Bread and butter

Eggs and butter

Milk and eggs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What unexpected association was discovered in the analysis?

Cookies and milk

Cookies and bread

Eggs and butter

Milk and bread