Question 1

In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is

Accepted Answer

To estimate the percentage of defective items in the population, divide the number of defective items by the total number of items in the sample and multiply by 100. So, (5 defective items / 200 total items) * 100 = 2.5%.

Question 2

Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the _____ extraction of _____ information from databases."

Accepted Answer

Dr. Kurt Thearling defines data mining as automated extraction of predictive information from databases.

Question 3

The set of analytical techniques that yield a best course of action is _____ analytics.

Accepted Answer

Prescriptive analytics refers to the use of analytical techniques to provide a recommended course of action. This is different from predictive analytics (which focuses on predicting future outcomes) and descriptive analytics (which focuses on summarizing past events and data). Diagnostic analytics involves exploring the causes of past events and data. Therefore, the best answer is A) prescriptive analytics.

Question 4

The sample size

Accepted Answer

The answer of The sample size
...

Question 5

The major applications of data mining have been made by companies with a strong _______ focus.​

Accepted Answer

Consumer-focused companies have used data mining extensively for customer segmentation, personalized marketing, and product recommendation systems.

Question 6

The type of analytics whose models yield a best course of action to take is _____ analytics.

Accepted Answer

Prescriptive analytics uses data, mathematical algorithms, and machine learning techniques to identify the best course of action to take in a given situation. It goes beyond both descriptive and predictive analytics, which simply describe what has happened or what may happen in the future. Inferential analytics, on the other hand, is used to make inferences about a larger group based on a smaller sample.

Question 7

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. A political pollster estimates: "Fifty-seven percent of all voters approve of the President." This statement is an example of

Accepted Answer

The statement is an example of statistical inference because it makes a generalization about the entire population of voters based on a sample of 1,600 registered voters.

Question 8

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. The 57% approval is an example of

Accepted Answer

The 57% approval is an example of descriptive statistics, which summarizes and describes the characteristics of the sample data. A sample is a subset of the population and 1,600 registered voters is the sample size. Statistical inference involves drawing conclusions about a population based on data from a sample, but no population is specified in this scenario.

Question 9

Which of the following scales of measurement are appropriate for quantitative data?

Accepted Answer

Interval and ratio scales are appropriate for quantitative data. Interval scale has equal intervals between points but lacks a true zero point (such as temperature in Celsius). Ratio scale has equal intervals and a true zero point (such as weight or age). Nominal and ordinal scales are appropriate for categorical or qualitative data.

Question 10

The largest experimental statistical study ever conducted is believed to be for​

Accepted Answer

The largest experimental statistical study ever conducted is believed to be for polio. This was the 1954 field trial of the Salk polio vaccine, which involved about 1.8 million children across the United States.

Question 11

Data dash-board is an analytical technique that falls in the category of _____ analytics.

Accepted Answer

Data dashboard is a tool used to display and analyze data in a visual format, providing a descriptive analysis of the data. Therefore, data dashboard falls in the category of descriptive analytics.

Question 12

A population is

Accepted Answer

A population refers to the entire group of individuals, objects, or events that the researcher wants to study. Therefore, a population includes all the items of interest and does not necessarily refer to a sample or a specific size.

Question 13

On a street, the houses are numbered from 300 to 450. The house numbers are examples of _____ data.

Accepted Answer

The answer of On a street, the houses are numbered...

Question 14

Simulation, which is the use of probability and statistical computer models to better understand risk, falls under the category of _____ analytics.

Accepted Answer

Simulation falls under the category of predictive analytics, as it involves creating models to predict possible outcomes and understand risk. Prescriptive analytics involves using data to make decisions, while descriptive analytics focuses on analyzing past data to understand trends. Diagnostic analytics involves analyzing data to understand why certain events occurred.

Question 15

Optimization models, which generate solutions that maximize or minimize some objective subject to a set of constraints, fall into the category of _____ analytics.

Accepted Answer

Optimization models fall under the category of prescriptive analytics, which suggests the best solution to a problem by considering all constraints and objectives. Predictive analytics aims to make predictions about future outcomes based on historical data, while descriptive analytics focuses on describing past and present data. Diagnostic analytics aims to identify the causes of specific events or patterns.

Question 16

Which of the following is a categorical variable?

Accepted Answer

A categorical variable is one that represents categories rather than numerical values. Your Social Security Number is a categorical variable because it is used to identify individuals rather than measure or count them.

Question 17

A survey to collect data on the entire population is a(n)

Accepted Answer

A survey to collect data on the entire population is called a census.

Question 18

Analytics is generally thought to comprise three broad categories of techniques that include all of the following except _____ analytics.

Accepted Answer

Diagnostic analytics is actually a recognized category within the analytics spectrum, focusing on understanding the causes of past performance. The three broad categories traditionally mentioned are descriptive (what has happened), predictive (what could happen), and prescriptive (what should be done).

Question 19

Which of the following is not an example of a firm that sells or leases business database services to clients?

Accepted Answer

The Census Bureau is a government organization that conducts surveys and collects data on the population and economy, but it does not sell or lease business database services to clients like the other firms listed.

Question 20

Which of the following variables uses the interval scale of measurement?​

Accepted Answer

The answer of Which of the following variables uses the...

Quiz 1: Data and Statistics

In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is

Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the _ extraction of _ information from databases."

The set of analytical techniques that yield a best course of action is _____ analytics.

The sample size

The major applications of data mining have been made by companies with a strong _______ focus.

The type of analytics whose models yield a best course of action to take is _____ analytics.

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. A political pollster estimates: "Fifty-seven percent of all voters approve of the President." This statement is an example of

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. The 57% approval is an example of

Which of the following scales of measurement are appropriate for quantitative data?

The largest experimental statistical study ever conducted is believed to be for

Data dash-board is an analytical technique that falls in the category of _____ analytics.

A population is

On a street, the houses are numbered from 300 to 450. The house numbers are examples of _____ data.

Simulation, which is the use of probability and statistical computer models to better understand risk, falls under the category of _____ analytics.

Optimization models, which generate solutions that maximize or minimize some objective subject to a set of constraints, fall into the category of _____ analytics.

Which of the following is a categorical variable?

A survey to collect data on the entire population is a(n)

Analytics is generally thought to comprise three broad categories of techniques that include all of the following except _____ analytics.

Which of the following is not an example of a firm that sells or leases business database services to clients?

Which of the following variables uses the interval scale of measurement?

Quiz 1: Data and Statistics

In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is

Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the _____ extraction of _____ information from databases."

The set of analytical techniques that yield a best course of action is _____ analytics.

The sample size

The major applications of data mining have been made by companies with a strong _______ focus.​

The type of analytics whose models yield a best course of action to take is _____ analytics.

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. A political pollster estimates: "Fifty-seven percent of all voters approve of the President." This statement is an example of

In a sample of 1,600 registered voters, 912 or 57% approve of the way the President is doing his job. The 57% approval is an example of

Which of the following scales of measurement are appropriate for quantitative data?

The largest experimental statistical study ever conducted is believed to be for​

Data dash-board is an analytical technique that falls in the category of _____ analytics.

A population is

On a street, the houses are numbered from 300 to 450. The house numbers are examples of _____ data.

Simulation, which is the use of probability and statistical computer models to better understand risk, falls under the category of _____ analytics.

Optimization models, which generate solutions that maximize or minimize some objective subject to a set of constraints, fall into the category of _____ analytics.

Which of the following is a categorical variable?

A survey to collect data on the entire population is a(n)

Analytics is generally thought to comprise three broad categories of techniques that include all of the following except _____ analytics.

Which of the following is not an example of a firm that sells or leases business database services to clients?

Which of the following variables uses the interval scale of measurement?​

Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the _ extraction of _ information from databases."

The major applications of data mining have been made by companies with a strong _______ focus.

The largest experimental statistical study ever conducted is believed to be for

Which of the following variables uses the interval scale of measurement?