WPC 300 Final Exam Questions with Complete Answers
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Course
WPC 300
Institution
WPC 300
Heuristic - Answer-Learns by acting
Uses trial and error
Values experience, effort reduction
Relies on common sense
Seeks satisficing solution
Fast and frugal
May lead to decision biases!
analytics - Answer-developing actionable decisions or rec for action based on insights from hi...
WPC 300 Final Exam Questions with
Complete Answers
Heuristic - Answer-Learns by acting
Uses trial and error
Values experience, effort reduction
Relies on common sense
Seeks satisficing solution
Fast and frugal
May lead to decision biases!
analytics - Answer-developing actionable decisions or rec for action based on insights
from histroical data
-combo of computer tech, mgt sci techniques, and states to solve real problems
-sports analytics, tinder
descriptive - Answer-preliminary stage, create summary of histroical data to yield useful
info and prep data for further analysis
-what happened
-std report, dashboard, visuals
-defined business probelm and opportunity
explanatory - Answer-look into past and why is certain thing happened, working on a
dashboard
-why and how happened
- inferential, visual
-causal relation
predictive - Answer-use of data, algorithm, machine learning technique to identify
liklihood of future outcomes based on list of hist data, what will happen
-what and why happened next
-data mine, text mine, FC
-accurate projection of future
prescriptive - Answer-what to do by providing info on optimal decisions based on
predictions, real time
-what should by done and why
-opt, sim, expert systems
-best possible business decision
Exploratory visual - Answer-you have hist data and explore data to find out about it
(tablaeu)
confirmatory visual - Answer-expect correlation and look at visual to confirm
, production visual - Answer-know to look for because understand problem, usually used
to find problems
-dashboard
spatial data visual - Answer-color coded map
dynamic visual - Answer-graph video shows data changes through the years
Tufte's principles of data visualization - Answer--The chart should tell a story
-The chart should have graphical integrity
-The chart should minimize graphical complexity
Lie Factor - Answer-size of effect shown in graphic / size of effect in data
should roughly equal 1
Lie Factor << 1: Understated effect
Lie Factor >> 1: Exaggerated effect
Data-ink ratio - Answer-(data-ink)/(total ink used to print the graphic)
should roughly equal 1
DIR ≪ 1, more non-data related info present in chart
DIR ≫ 1, less non-data related info present in chart
DIR = 1, all ink devoted to present the data in chart
chartjunk - Answer-any unnecessary information or feature in a graph that detracts from
a viewer's ability to understand the data
-When the data-ink ratio is low, chartjunk is likely to be high
Moiré effects - Answer-visual perception that occurs when viewing a set of lines or dots
that is superimposed on another set of lines or dots, where the sets differ in relative
size, angle, or spacing.
Principles of storytelling - Answer-Good storytelling is about keeping both you and your
audience emotionally engaged to follow your entire story to make the point memorable
Framing - Answer-the way an issue is posed
structure - Answer-Beginning - Context: set the scene
Middle - Execute analysis & report results
End - Review what was intended, interpret results - Conclusions naturally flow
engagement - Answer-evaluation mode
Population - Answer-the whole
a collection of persons, objects, or items under study
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