Chapter 4 Analysis and Analytics

Question 1

What is Analysis?

Answer 1

Data analysis is a procedure of investigating, cleaning, transforming, and training the data with the aim of finding some useful information.

Question 2

What is Analytics?

Answer 2

Data Analytics is a broader field that encompasses data analysis as well as other techniques for processing and interpreting data

Question 3

What are classes in analysis and analytics?

Answer 3

Descriptive analysis, diagnostic analytics, predictive analytics, prescriptive analytics, exploratory analysis, mechanistic analysis

Question 4

What are components of analysis

Answer 4

Variable, Frequency distribution, measures of centrality, dispersion of a distribution

Question 5

What are example where ordinal variable is used?

Answer 5

survey, questionnaires, rating systems

Question 6

what are the different type of kurtosis?

Answer 6

A positive Excess kurtosis (>0) indicates a leptokurtic distribution
(Heavy tailed)
* A zero Excess kurotsis(=0) indicates a Mesokurtic distribution, ,
meaning that it has the same amount of kurtosis as a normal
distribution.
* A negative Excess kurtosis (<0), indicates a Platykurtic distribution
(Thin tailed)

Question 7

what is median?

Answer 7

The median is the middle value in a sorted list of numbers. If
there is an even number of values, the median is the average
of the two middle values.

Question 8

what is mean?

Answer 8

The mean is the arithmetic average of a set of values,
calculated by summing all the values and dividing by the
number of values.

Question 9

what is mode?

Answer 9

The mode is the value that appears most frequently in a set of
data.

Question 10

What does measure of dispersion measure?

Answer 10

• Measures of dispersion give a single value indicating the degree of consistency
  or uniformity of distribution. T