Answer :
Final answer:
Market Basket Analysis is a data mining technique used in retail to analyze customer shopping patterns. It is closely related to economic base analysis and regression analysis, all of which help businesses understand and predict economic and consumer behavior. Thus, option C is correct.
Explanation:
The term 'Average Basket Ring or Market Basket Analysis' refers to a data mining technique used in the retail industry to analyze customer shopping patterns, typically by examining the combination of products bought together. It is used to understand consumer buying behavior and to optimize product placement, inventory management, and marketing strategies. In the context of economics, Economic Base Analysis uses the location quotient to determine the economic activity of a region and the role of specific industries in bringing money into the region or servicing the local population. Similarly, making sense of price indexes can help in understanding the fluctuation of product prices over time, while regression analysis is a statistical method used to identify the relationship between variables. Thus, option C is correct.