class10: Analyze the Data

Question 1

what is the soar analytics model?

Answer 1

1. Specify the question
2. obtain the data
3. analyze the data
4. report the results

Question 2

a group with something in common

Answer 2

population

Question 3

characteristic of a population/characteristic of a sample

Answer 3

parameter / statistic

Question 4

what is the sample used for?

Answer 4

sample is used to make inferences, conclusion about the characteristics of a population

Question 5

measures that describe a population/sample

Answer 5

descriptive statistics

Question 6

measures calculated only using a sample

Answer 6

inferential statistics

Question 7

explain 3 sampling methods

Answer 7

1. simple random sampling
2. stratified random sampling
   
   • divide members into similar groups before sampling
3. cluster sampling
   - divide the population into groups => select few groups

Question 8

process of reducing the size of the data set to a more manageable and suitable size for a business analysis projects

Answer 8

data reduction

Question 9

4 common methods of data reduction

Answer 9

1. filtering
2. deduplication
3. aggregation
4. compression

Question 10

4 types of bias in business analytics

Answer 10

1. nonresponse
2. selection
3. confirmation
4. outlier

Question 11

Shows all possible values for a variable and how often they (could) occur

Answer 11

data distribution

Question 12

a statistical function that describes the possible values in a population and the chance that any given observation can take a given range or value

Answer 12

probability distribution

Question 13

explain 2 types of numerical data

Answer 13

1. continuous data
   - any numerical value, infinite
   ex, height, weight, currency
2. discrete data
   - whole number, finite
   ex, customers

Question 14

3 basic understanding of the data
: the starting point of analyzing

Answer 14

1. structure
2. dispersion
3. frequency

Question 15

the distribution shape

Answer 15

kurtosis

Question 16

most common observation in a data set

Answer 16

mode

Question 17

5 words describing the center point of the data (data structure )

Answer 17

mean
median
mode
kurtosis
symmetry

Question 18

3 개념 describing the dispersion of data

Answer 18

1. Range
   - maximum - minimum
2. variance
3. standard deviation
   -

Question 19

two conditions to be a normal distribution

Answer 19

1. mean=mode=median=0
2. standard deviation = 1

Question 20

information that results from the examination of data to understand the past answers to the question “what happened?”

Answer 20

descriptive analytics

Question 21

build on descriptive analytics and try to answer the question “why did this happen?”

Answer 21

diagnostic analytics

Question 22

information that results from analyses that focus on predicting the future

Answer 22

predictive analytics

Question 23

Informationthatresultsfrom
analyses to provide a recommendation of what should happen—answers the question “what should be done?”`

Answer 23

prescriptive analytics

Question 24

what kind of analytics is useful to evaluate performance?

Answer 24

descriptive analytics

Question 25

3 issues of diagnostic analysis

Answer 25

1. mistaking correlation for causation
2. cannot predict the future
3. the answers may not be 100% definitive

Question 26

3 approaches of diagnostic analysis to find trends(relationship)

Answer 26

1. data drilling
2. data mining
3. goals

Question 27

5 concerns with diagnostic analysis

Answer 27

1. confounding variable
2. luck of casual connection
3. data degrading
4. reporting issues
5. low n

Question 28

implies a deeper connection/relationship of influence

determines the relationship’s effect

Answer 28

regression

Question 29

causality exists when the two conditions are met

Answer 29

1. significant correlation
2. chronological secquence / experiment / theory