Which of the following is the correct definition for algorithms?

Multiple Choice

Extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information

The process of identifying rare or unexpected items or events in a dataset that do not conform to other items in the data set.

Mathematical formulas placed in software that performs an analysis on a dataset

A data value that is numerically distant from most of the other data points in a dataset