WPC 300 (questions with error-free answers)

Which of the following describes the standard deviation? correct answers It is the square root of the variance. When two variables are highly positively correlated, the correlation coefficient will be _______. correct answers close to 1 According to statistical notation, what does ∑ stand fo...

Which of the following is NOT a principle of problem facing correct answers routinize the procedure finding patterns in data in an example of _____ modeling correct answers explanatory (patterns and features) Which of the following analytic techniques can be used to find out "which month had...

For a normal distribution mean is ___ to median correct answers equal Standard deviation of a normal distribution is a ___? correct answers Measure of data dispersion Which of the following is an example of a measure of dispersion? correct answers Variance Which of the following is an examp...

Heuristic correct answers 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 correct answers developing actionable decisions or rec for action based on ins...

Gamblers' fallacy is ______________ Framing effect bias A Zero risk bias A clustering illusion An endowment effect bias correct answers A clustering illusion When you keep eating the food you don't like precisely because you already bought the food, you are committing _______________ Endow...

For a normal distribution mean is _______ to median. -not equal -greater than -equal -less than correct answers equal Which of the following describes a positively skewed histogram? -a histogram with large kurtosis -a histogram for which mean and mode values are the same. -a histogram that...

Extract, Transform, and Load (ETL) correct asnwers Allows you to convert various data formats and types to adhere to one consistent system and migrate data into data warehouse a predefined process for accessing and manipulating the source data in loading it into a target database Requirements ...

In an agile approach of analytics, what is the first step of the process? Perform data discovery Perform business discovery Score and deploy Model data correct answers Perform business discovery In an ETL process, data is loaded into a final target database such as: Operational dashb...

analytics correct answers the process of developing actionable decisions or recommendations for actions based upon insights generated from historical data primary data correct answers data collected specifically for the research problem at hand (ex: survey, interviews) secondary data correct a...