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WPC 300 Final Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $12.49   Add to cart

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WPC 300 Final Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed

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  • Course
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  • WPC 300

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

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  • September 4, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WPC 300
  • WPC 300
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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



WPC 300 Final Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
analytics


✓ -:- the process of developing actionable decisions or recommendations for actions

based upon insights generated from historical data




primary data


✓ -:- data collected specifically for the research problem at hand (ex: survey,

interviews)




secondary data


✓ -:- data collected for some purpose other than the problem at hand (ex: firm's

proprietary data, internet data, stock/capital market data)




stimulated data


✓ -:- data based on assumption and simulation




importance of data visualization




1|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- 1. visual elements allow us to see and understand trends, outliers, & patterns in

data

2. can comprehend difficult concepts or identify new patterns more easily


3. humans LOVE visuals




3 main principles of data visualization


✓ -:- 1. chart should tell a story / yield insight beyond text

2. chart should have graphical integrity (Tufte's "Lie" factor)


3. chart should min graphical complexity (Tufte's "data ink" ratio)




statistics


✓ -:- science concerned with developing and studying methods for collecting,

analyzing, interpreting, and presenting empirical data to assist in making effective

decisions




descriptive statistic


✓ -:- study data in entirety

3 principles of describing data: center, spread, shape




inferential statistics

2|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- utilize random sample of data taken from population to describe and make

INFERENCES about the population

- reliability of conclusion dependent on CL




3 principles of descriptive statistics


✓ -:- 1. Data centrality (mean, median, mode)

2Data spread / variability (range, MAD, variance, stdv)


3. Data shape (kurtosis)




kurtosis


✓ -:- measure of whether the data are peaked or flat relative to a normal distribution

High kurtosis = data is peaked near mean, declines rather rapidly, and has heavy tails


Low kurtosis = data is flat near mean




covariance


✓ -:- measure of the DIRECTION of linear association between two variables

scaled between negative infinity and positive infinity


aka how variables vary from each other




3|Page | Grade A+| 2024/2025

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