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MSIS 3223 Data Analytics Oklahoma state Questions With Complete Solutions
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MSIS 3223 Data Analytics Oklahoma state Questions With Complete Solutions
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MSIS 3223 Data Analytics Oklahoma state Questions WithComplete Solutions
binomial distribution Correct Answer the probability
distribution of a random variable with two possible outcomes,
each with a constant probability of occurrence is referred to
Bernoulli distribution. Can assume different shapes and amounts
of skewness.
Classical Definition of Probability Correct Answer If the
process that generates the outcome is known, probabilities can
be deduced from theoretical arguments.
Continuous random variable Correct Answer Outcomes of one
or more continuous variables of real numbers.
cyclical Correct Answer describes ups and downs over a much
longer time frame, such as years
Delphi Method Correct Answer popular judgement approach
where a panel of experts are used to respond to questions. this is
to create unbiased and convergence of opinions
Excel's regression tool Correct Answer can be used for simple
or multiple linear regressions. Range of dependent variables can
be specified , labels can be used, and can force the intercept to 0
Expected Value Correct Answer random variable corresponds
to the notion of the mean.
, exponential functions Correct Answer have the property that y
rises or falls at a constantly increasing rate. remember
exponential growth or decay
Features of normal distribution Correct Answer Symmetric,
skewness of zero, mean median and mode are all equal.
Historical analogy Correct Answer qualitative and judgmental
techniques rely on experience and intuition. Necessary when
historical data is not available. Compares to previous situations
How to compute the variance of the discrete random variable
Correct Answer weighted average of the squared deviations
from the expected value. this is the common measure of
dispersion
index Correct Answer indicators are often combined
quantitatively into an index, a single measure that weights
multiple indicators, providing a measure of overall expectation.
shows a better picture of direction of change
Interaction Correct Answer in regression, interaction occurs
when the effect of one variable is dependent on another variable
linear functions Correct Answer shows increases and decreases
over a range of x. simplest type of function
logarithmic function Correct Answer used when the rate of
change is a variable increases or decreases quickly and then
levels out, such as diminishing returns to scale.
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