Exam 17: Data Analytics

Choose from the definitions below the best definition of event log data.

Linear regression is a statistical technique we use to estimate the relationships between a(n) ________ and one or more independent variables.

The first step in analyzing a data set is learning about its data. Exploratory data analytics techniques reveal the key characteristics of a data set. Exploratory data analytics techniques help us identify three key factors of a data set. Which of the key factors is the numeric data points that can be summed, counted, or otherwise analyzed using mathematical operations?

When you track your run on a smart watch, what type of analytics are you practicing?

Maeve is a freshman outfielder on the softball team. Her softball coach tells her that the more hours she practices hitting in the batting cage and on the field, the higher her batting average will be during the season. What is the independent variable?

Choose from the definitions below the best definition of social network analysis.

Clustering, or cluster analysis, is an analytics technique that categorizes data points into groups based on their similarities. The groups, called clusters, are determined by the distance between individual items, which indicates how closely related the data points are. Clustering is an unsupervised Machine Learning (ML) technique in which the data input contains ________ data.

You are presented with a data set of 10 test scores: 99, 85, 84, 83, 83, 81, 80, 80, 79, and 66. What is the average test score?

You are presented with a data set of 10 test scores: 99, 85, 84, 83, 83, 81, 80, 80, 79, and 66. Which grade(s) are an outlier?

Five data analytics-related job titles were discussed in the text. Which of the following job titles would best fit the following description: "Builds the technological infrastructure and architecture for gathering, growing, and storing raw data."

RAM Software, Inc. is an Inventory Management software company. Justin, a CPA, has recently been hired to oversee sales transactions. The CFO of RAM Software is concerned that some of the sales transactions are fraudulent which increase the commissions of the sales personnel. Justin wants to perform linear regression to identify red flags for fraud in the sales data. The company offers greater customer discounts on their software at the end of each quarter, and even greater discounts at the end of each fiscal year. Justin's hypothesis is that sales transactions recorded at the end of a quarter, and particularly at the end of the year, are at greater risk of fraud. He will use linear regression to determine if the date of the sales transaction in the quarter or year is related to the percent of fraudulent sales transactions. In Justin's analysis, what is the dependent variable and what is the independent variable?

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 unsupervised learning.

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 project management?

Choose from the definitions below the best definition of network analysis.

Any part of the business that captures event data is a candidate for process mining. Give an example of how process mining could be used in investment firms?

Clustering, or cluster analysis, is an analytics technique that categorizes data points into groups based on their similarities. The groups, called clusters, are determined by the distance between individual items, which indicates how closely related the data points are. Clustering is a(n) ________ Machine Learning (ML) technique in which the data input contains unlabeled data.

There are four widely used categories of data analytics. Which one tells us why something happened?

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 social media posts.

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. Monte Carlo simulation is an example of which type of ML?

Five data analytics-related job titles were discussed in the text. Which of the following job titles would best fit the following description: "Possesses a deep understanding of business processes and can evaluate them, analyze key metrics, and provide strategic recommendations."