Question 1

In the context of modeling types, supervised learning is called classification when
A) the target variable is continuous.
B) a testing dataset is used to evaluate the final selected algorithm.
C) the target variable is categorical.
D) an unlabeled dataset is used to develop an algorithm.

Accepted Answer

In supervised learning, when the target variable is categorical (meaning it can be divided into classes), the task is called classification. The goal is to predict which category or class new observations belong to based on a training dataset where the category of each observation is already known.

Question 2

Google Dataset Search is useful in helping data enthusiasts find available data sources.

Accepted Answer

Google Dataset Search allows users to find datasets stored across the web, making it easier for researchers, data journalists, and data enthusiasts to locate the data they need for their work.

Question 3

Which of the following is true about the fifth principle in the SMART analytics principles?
A) The project should be trackable and the outcomes measurable.
B) The project should solve the analytics problem and align with the business objectives.
C) The project should be completed in a timely manner.
D) The project's goals should be specific and clearly defined.

Accepted Answer

The answer of Which of the following is true about...

Question 4

Which step of the 7-step marketing analytics process typically involves other key stakeholders such as information technology specialists, customer service representatives, or the sales team of an organization?
A) model development
B) model and results communication
C) data preparation and feature selection
D) model deployment

Accepted Answer

Model deployment involves collaboration with other key stakeholders to ensure the model is integrated into the organization's systems and processes effectively.

Question 5

In the context of the 7-step marketing analytics process, which of the following steps should be followed after completing model evaluation and interpretation?
A) model deployment
B) model and results communication
C) business problem understanding
D) data preparation and feature selection

Accepted Answer

The answer of In the context of the 7-step marketing...

Question 6

Which of the following types of secondary data includes ZIP code data showing tax return information by state and ZIP code level?
A) corporate information
B) mobile data
C) channel partners
D) government sources

Accepted Answer

ZIP code data showing tax return information by state and ZIP code level is typically collected and disseminated by government agencies, making government sources the correct answer.

Question 7

The Department of Agriculture is a source of secondary data on ________.
A) consumer complaints regarding government's financial products and services
B) population, economy, housing, and geography
C) demographic characteristics such as gender, ethnicity, and citizenship
D) fruit and vegetable prices for over 153 commonly consumed products

Accepted Answer

The Department of Agriculture collects and provides data on agricultural products, including fruit and vegetable prices for commonly consumed items, making it a source of secondary data for such information.

Question 8

The goal of unsupervised learning is to model the underlying structure and distribution in the data to discover and confirm patterns in the data.

Accepted Answer

Unsupervised learning aims to identify patterns, structures, or features within a dataset without the guidance of labeled outcomes or predictions, focusing on the intrinsic distribution of the data.

Question 9

Discuss how a business can use supervised and unsupervised learning together to gain more insights about a problem it is facing.

Accepted Answer

The answer of Discuss how a business can use supervised...

Question 10

Discuss the importance of knowledge of marketing analytics when an individual is searching for a job.

Accepted Answer

The answer of Discuss the importance of knowledge of marketing...

Question 11

Which of the following is most helpful for a business designing a future statistics collection initiative?
A) machine learning
B) secondary data
C) root-cause analysis
D) artificial intelligence

Accepted Answer

Secondary data is most helpful for a business designing a future statistics collection initiative because it provides existing information that can inform the design and focus of new data collection efforts, helping to identify gaps in current knowledge and potential areas of interest.

Question 12

In the second step of the 7-step marketing analytics process, a marketing analyst should
A) identify where the data is stored.
B) question whether the problem the business is presenting is, in fact, the correct problem.
C) identify the target and predictor variables.
D) select the method to use based on the target variable and problem.

Accepted Answer

The answer of In the second step of the 7-step...

Question 13

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games. In this study, what type of variable is school holidays?
A) a target variable
B) a dependent variable
C) an outcome variable
D) an independent variable

Accepted Answer

School holidays are considered an independent variable in this context because they are the factor being studied to see how they affect another variable (sales of video games), which would be the dependent variable.

Question 14

In supervised learning, the testing dataset is used to
A) assess how well the algorithm developed using the training dataset estimates the target variable.
B) evaluate the final selected algorithm and see how well it performs on a third dataset.
C) "learn" the relationship between the predictors and the target variable.
D) select the model that most accurately predicts the target value of interest.

Accepted Answer

The answer of In supervised learning, the testing dataset is...

Question 15

Which of the following statements is true of supervised learning?
A) In supervised learning, the target variable of interest is known.
B) The goal of supervised learning is to model the underlying structure and distribution in the data.
C) Supervised learning has no previously defined target variable.
D) Supervised learning is used to discover and confirm patterns in the data.

Accepted Answer

In supervised learning, the model is trained on a labeled dataset, which means that each example in the training set is paired with the correct output. The model learns from these examples to make predictions or decisions, based on new, unseen data. The target variable, or what we are trying to predict or classify, is known beforehand, which is not the case in unsupervised learning where the goal is to explore the structure of the data without predefined labels.

Quiz 1: Introduction to Marketing Analytics

In the context of modeling types, supervised learning is called classification when

Google Dataset Search is useful in helping data enthusiasts find available data sources.

Which of the following is true about the fifth principle in the SMART analytics principles?

Which step of the 7-step marketing analytics process typically involves other key stakeholders such as information technology specialists, customer service representatives, or the sales team of an organization?

In the context of the 7-step marketing analytics process, which of the following steps should be followed after completing model evaluation and interpretation?

Which of the following types of secondary data includes ZIP code data showing tax return information by state and ZIP code level?

The Department of Agriculture is a source of secondary data on ________.

The goal of unsupervised learning is to model the underlying structure and distribution in the data to discover and confirm patterns in the data.

Discuss how a business can use supervised and unsupervised learning together to gain more insights about a problem it is facing.

Discuss the importance of knowledge of marketing analytics when an individual is searching for a job.

Which of the following is most helpful for a business designing a future statistics collection initiative?

In the second step of the 7-step marketing analytics process, a marketing analyst should

A marketing analyst at a gaming company is studying the effect of school holidays on sales of video games. In this study, what type of variable is school holidays?

In supervised learning, the testing dataset is used to

Which of the following statements is true of supervised learning?