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A data analyst is studying the pharmaceutical industry and its financial results. She collected financial data on 21 firms in the pharmaceutical industry using 6

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A data analyst is studying the pharmaceutical industry and its financial results. She collected financial data on 21 firms in the pharmaceutical industry using 6 basic financial measures (variables), presented in the table below. The data analyst then utilized the agglomerative clustering to group these pharmaceutical companies into several useful clusters. The dendrogram of these clusters is shown below. How many clusters were developed? d. 10

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