Exam 17: Data Analytics

Consider the simple linear regression equation: Y = A + Bx What does Y represent?

Choose from the definitions below the best definition of geospatial analytics.

What uses complex calculations to predict the outcomes and probabilities associated with a decision that influences a data set?

What is a type of network analysis that investigates social structures on social media?

Classification analysis is the categorization of data into groups based on similarities found in a data label that was previously defined. Classification analysis might sound closely related to clustering-and these two types of analysis do have similarities. While they are both methods of categorization, they differ in the type of Machine Learning (ML) they use. Classification uses

Natural Language Processing (NLP) is a form of textual analysis that gathers, processes, and interprets meaning from human language. Sentiment analysis is a complex and advanced data analytics technique. Give an example of how natural language processing (NLP) could be used with journal entry analysis.

There are four widely used categories of data analytics. Which one uses statistical modeling and algorithms to predict what is likely to happen?

Classification analysis is the categorization of data into groups based on similarities found in a data label that was previously defined. Classification analysis might sound closely related to clustering-and these two types of analysis do have similarities. While they are both methods of categorization, they differ in the type of Machine Learning (ML) they use. Clustering uses

You are presented with a data set of 6 test scores: 47, 46, 46, 44, 43 and 26. Which grade is an outlier?

Exploring a new data set and understanding its composition commonly involves the data analytics technique ________, which involves simplifying data to quickly identify the composition of categorical and quantitative values. We compress the data into smaller, easier-to-understand outputs, called data summaries. To do this, we typically group a data set by a specific field, or column.

Five data analytics-related job titles were discussed in the text. Which of the following job titles would best fit the following description: "Collects, manipulates, and analyzes data across a business."

There are four widely used categories of data analytics. Which one identifies what we should do?

Monte Carlo simulation is an important simulation in the business world and can be used in many contexts. Give an example of how Monte Carlo simulation could be used in cost accounting?

Five data analytics-related job titles were discussed in the text. Which of the following job titles would best fit the following description: "Designs and programs algorithms to collect and analyze data and perform predictive analytics."

The known fixed costs are compared to the estimated variable costs to predict what?

Machine Learning (ML) uses algorithms and statistical models to train an AI system through patterns and trends in data sets. ML programs systems to perform tasks without explicit instructions and is a popular application of AI in data analytics. There are three machine learning approaches. Choose the best definition for reinforcement learning.

What is the process of estimating future events based on the combination of past and present time series data?

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. Maeve recently joined RAM Manufacturing and has been asked to review the A/P invoice approval process. Maeve wants to use process mining to identify any deviations in the A/P invoice approval process. Maeve develops the following process mining visualization, which shows the process path for 5 invoices: What anomalies can Maeve detect using her process mining analytic?

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. Maeve recently completed a double major in accounting and information systems at her university. She has completed three of the four sections of the CPA exam and hopes to sit for the fourth next month. Maeve wrote SQL queries during an internship as an internal audit data analyst and is passionate about turning data into useful information that impacts business operations. She wants to know that her work will result in change for her future employer. RAM Manufacturing currently has several job openings posted on LinkedIn, including: • Data scientist • Data analyst • Business analyst • Data engineer These positions are specific to the Finance and Accounting departments. Which jobs do you think Maeve should apply for?

There are four widely used categories of data analysis. Which two looks at the past and uses historical data to learn more about what occurred and why it occurred?