Prescriptive analytics - Study guides, Class notes & Summaries

WGU C207 Final Self-Assessment Questions and Answers Latest Update 2023/2024. Question 1 Amanda is measuring the temperature. She looks at the thermometer and sees that it is somewhere between 65 and 66 degrees Fahrenheit. She is okay with the temperature in between two integers because she knows temperature is not data, but temperature is data. • a) Nominal, Ordinal • b) Nominal, Discrete • c) Continuous, Discrete • d) Discrete, Continuous Feedback: The correct answer is D. Te...

WGU C207 Exam Q&A For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to – ANSWER-Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to achieve this goal? – ANSWER Prescriptive Analytics What type of data error that occurs in measurement is constant within a data set and is sometimes caused by faulty equip...

CORRECT ANSWERS ARE LOCATED IN THE 2ND HALF OF THIS DOC. TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) Companies today are successful when they combine the power of the information age with traditional business methods. ⊚ true ⊚ false 2) Diagnostic analytics is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decisio...

WGU C207 OA Questions and Answers 100% Pass Simple indexing Common analytic measure to improve performance. Compares current data with data during a base period. (Price / Price during "Base Period") x 100 i.e. Big Mac was 1.60 in 1968 which is base period. what is index for 2014 if price was 4.80 then? (4.80 / 1.60) * 100 = 300 (means price is 3x greater than base period) Used to identify price fluctuations of supplies, materials, products, etc. Weighted Index assign a weight to allow for...

Which category of analytics will knowledge workers use to perform their jobs? All answers are correct: Descriptive analytics techniques that describe past performance and history. Predictive analytics techniques that extract information from data and use it to predict future trends and identify behavioral patterns. Prescriptive analytics techniques that create models indicating the best decision to make or course of action to take. Which of the following refers to applications and tec...

Test Bank for Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support 11 Edition by Ramesh Sharda, Dursun Delen and Efraim Turban. All14 Chapters (Complete Download). TABLE OF CONTENT PART I: INTRODUCTION TO ANALYTICS AND AI 1. An Overview of Business Analytics, Decision Support Systems, Business Intelligence, Data Science, and Artificial Intelligence 2. Artificial Intelligence: Concepts, Drivers, Major Technologies, and Business Applications 3. Nature of Data, Statistic...

Test Bank for Business Intelligence, Analytics, Data Science, and AI, 5th edition 5e by Ramesh Sharda, Dursun Delen, Efraim Turban. Full Chapters test bank are included - Chapter 1 - 11 An Overview of Business Intelligence, Analytics, Data Science, and AI Artificial Intelligence: Concepts, Drivers, Major Technologies, and Business Applications Descriptive Analytics I: Nature of Data, Big Data, and Statistical Modeling Descriptive Analytics II: Business Intelligence Data Warehousing, and Visualiz...

Simple indexing CORRECT ANSWER Common analytic measure to improve performance. Compares current data with data during a base period. (Price / Price during "Base Period") x 100 i.e. Big Mac was 1.60 in 1968 which is base period. what is index for 2014 if price was 4.80 then? (4.80 / 1.60) * 100 = 300 (means price is 3x greater than base period) Used to identify price fluctuations of supplies, materials, products, etc. Weighted Index CORRECT ANSWER assign a weight to allow for s...

What are the divisions of the core components of analytics? - - To analyze data, core components of analytics are divided into the following categories: -Descriptive -Diagnostic -Predictive -Prescriptive -Cognitive What are descriptive analytics? - - Descriptive analytics help answer questions about what has happened based on historical data. Descriptive analytics techniques summarize large datasets to describe outcomes to stakeholders. What are examples of descriptive analytics? - ...

Test Bank for Business Analytics 2nd edition by James R. Evans (Complete 16 Chapters). Table Of Content Brief Contents Preface About the Author PART 1: Foundations of Business Analytics 1. Introduction to Business Analytics 2. Analytics on Spreadsheets Part 2: Descriptive Analytics 3. Visualizing and Exploring Data 4. Descriptive Statistical Measures 5. Probability Distributions and Data Modeling 6. Sampling and Estimation 7. Statistical Inference Part 3: Predictive Analytics 8. Trendlines and ...