Exam 3: Modeling and Evaluation: Going From Defining Business Problems and Data Understanding to Analyzing Data and Answering Questions

Which approach to data analytics attempts to divide individuals into groups in a useful or meaningful way?

The data approach used to characterize the typical behavior of an individual,group or population by generating summary statistics about the data is referred to as classification.

Understanding and predicting inventory obsolescence is an important determination for retail companies.When using competitor selling prices to estimate the inventory obsolescence reserve,the inventory obsolescence reserve represents which of the following?

________ is existing data that has been manually evaluated and assigned a class and ________ is existing data used to evaluate the model.

A decision tree can be used to divide data into smaller groups.

The P in IMPACT Cycle represents performing test plan.

Clustering is a data approach used to divide individuals into groups in a useful or meaningful way.

Data profiling is used to assess data quality and internal controls.It typically involves the following steps except:

Which approach to data analytics attempts to assign each unit in a population into a small set of categories?

Fuzzy matching is a data approach used to identify similar individuals based on data known about them.

Data reduction typically involves the following steps except:

All of the following are examples of a supervised approach to evaluation data except:

________ states that in many naturally occurring collections of numbers,the leading significant digit is likely to be small.

Regression is a data approach used to estimate or predict,for each unit,the numerical value of some variable using some type of statistical model.

Alibaba and its attempt to identify seller and customer fraud based on various characteristics known about them is an example of similarity matching.

Existing data that has been manually evaluated and assigned a class is often referred to as test data.

The short surveys regarding dining preferences requested at the bottom of the restaurant bill are an example of which data approach?

Data reduction is a data approach used to reduce the amount of information that needs to be considered to focus on the most critical items.

Unaware of data analysis tools available to the internal auditors,a store employee frequently processes cash returns without a receipt for $99,which is just below the amount requiring manager approval of $100.An analysis using which of the following would likely (and quickly)identify the employee's fraudulent behavior?

Which of the following best describes a supervised approach to the evaluation of data?