Explain K-Nearest Neighbors classification Algorithm with a suitable example.

K-Nearest Neighbors (K-NN) is a simple, non-parametric, and lazy supervised learning algorithm used for classification and regression tasks. It classifies a data point based on the majority class of its 'K' nearest neighbors, where K is a positive integer. The basic idea _______ _________ _______ ____ _________ ________ ___ ________ _______ _________.
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