BSAN 160 Test 2 Questions with Correct Answers
Normalizing data - Answer-reduce the range of values in each numerically valued variable to a standard range by using a variety of normalization or scaling techniques
Discretize or aggregate data - Answer-convert the numeric variables into discret...
Normalizing data - Answer-reduce the range of values in each numerically valued
variable to a standard range by using a variety of normalization or scaling techniques
Discretize or aggregate data - Answer-convert the numeric variables into discrete
representations using range or frequency based binning techniques
for categorical variables, reduce the number of values by applying proper concept
hierarchies
Construct new attributes - Answer-derive new and more informative variables from the
existing ones
Method of Data Reduction - Answer-reduce the number of attributes, reduce the
number of records, and balance skewed data
Reduce number of attributes - Answer-principal component analysis, independent
component analysis, chi-square testing, correlation analysis, and decision tree induction
Reduce number of records - Answer-random sampling, stratified sampling, expert-
knowledge-driven purposeful sampling
Balance skewed data - Answer-oversample the less represented or undersample the
more represented class
Information dashboard - Answer-provide visual displays of important information that is
consolidated, cleaned, arranged on an (interactive) screen so that key insights can be
digested at a single glance and easily drilled in for further exploration
Design of storytelling dashboard - Answer-needs to set the comparative and evaluative
context
Comparative context of a storytelling dashboard - Answer-Are the number trending in
the right direction?
Use comparative measures (e.g., past values, baseline)
Evaluative context of a storytelling dashboard - Answer-Are the numbers on the
dashboard good or bad?
Visual attributes (e.g., color-coding)
visual objects (e.g., traffic lights, dials)
, Descriptive statistics - Answer-Describe the sample data at hand (central tendency
measures, spread, shape)
Inferential statistics - Answer-about drawing inferences about the characteristics of a
population using a sample from that population
Regression - Answer-used to examine the relationship between one or more
explanatory variables (input, independent) and one or more response variables (output,
dependent)
Uses of regression - Answer-forecasting values of a dependent variable (most frequent
use)
to test hypotheses
Simple linear regression - Answer-has only one input variable
Optimal line - Answer-closest to all the data points, gives the "best fit' and should
capture the trend
Regression model equation - Answer-
Multiple linear regression - Answer-one numerical dependent variable and more than
one independent variable, which can be numerical or categorical
use of a scatterplot in data assessment - Answer-visualize the relationship between
dependent and independent variables
Descriptive Analytics - Answer-What happened?
What is happening?
Predictive Analytics - Answer-What will happen?
Why will it happen?
Prescriptive Analytics - Answer-What should I do?
Why should I do it?
Compares different actions/decisions and selects the best decisions based on certain
performance criteria
When does data become information? - Answer-After it is processed
Is data absolute facts? - Answer-No, real-world data comes with uncertainty, nuances,
and biases
Structured data - Answer-organized as data arrays (e.g., spreadsheets) with variables,
observations, and values
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Perfectscorer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R241,51. You're not tied to anything after your purchase.
