FA1-FA2

Question 1

What is the primary focus of statistics?

Answer 1

Collection, analysis, interpretation, presentation, and organization of data

Question 2

Which of the following is NOT a type of data source mentioned?

Answer 2

Experimental Data

Question 3

What type of data includes information about the type of product combined with customer characteristics?

Answer 3

Contractual, Subscription, or Account Data

Question 4

Which data source consists of structured, detailed information capturing the key characteristics of a transaction?

Answer 4

Transactional Data

Question 5

What is the main purpose of surveys in data collection?

Answer 5

To extract sociodemographic and behavioral data

Question 6

Which type of data does not reside in a traditional row-column database?

Answer 6

Unstructured Data

Question 7

What is the broader scope that integrates statistical methods with advanced computational techniques?

Question 8

Which of the following is an example of unstructured data?

Answer 8

Social media posts

Question 9

What is the main focus of descriptive analytics?

Answer 9

Understanding past data

Question 10

Which of the following methods is commonly used in statistics to understand data distributions and relationships?

Answer 10

Hypothesis testing and regression analysis

Question 11

Which type of analytics is used to identify the cause of past events?

Answer 11

Diagnostic Analytics

Question 12

What does analytics emphasize in addition to statistical methods?

Answer 12

Predictive modeling and data mining

Question 13

Which of the following best describes the scope of analytics?

Answer 13

Integrates statistical methods with advanced computational techniques

Question 14

What is the first step in the data analysis process

Answer 14

Prepare data

Question 15

Which of the following is not listed as a data source from the chart?

Answer 15

Printed Books

Question 16

In which step would you apply machine learning techniques according to this flowchart?

Answer 16

Step 2- Extract Patterns

Question 17

What outcome does this flowchart suggest as a result of following these steps?

Answer 17

Gaining insights or making informed decisions based on analyzed data

Question 18

Which of the following is an example of transactional data?

Answer 18

Credit card payment

Question 19

What type of information is included in contractual, subscription, or account data?

Answer 19

Information about the type of product combined with customer characteristics

Question 20

What is the primary aim of surveys?

Answer 20

To extract sociodemographic and behavioral data from a particular group of people

Question 21

What is unstructured data?

Answer 21

Information that does not reside in a traditional row-column database

Question 22

Which of the following is an example of a purpose for which data poolers gather data?

Answer 22

Marketing and credit risk assessment

Question 23

What is the first phase in the data analytics process?

Answer 23

Business Understanding

Question 24

What is the primary goal of the Business Understanding phase?

Answer 24

Evaluating the model

Question 25

Which phase involves selecting related data from various databases?

Answer 25

Data Understanding

Question 26

What is the primary focus of the Modelling phase?

Answer 26

Applying statistical and machine learning algorithms

Question 27

Which phase involves evaluating the performance of the model?

Answer 27

Evaluation

Question 28

What type of data can be found in a Temporal, Sequence or Time-Series Database?

Answer 28

Time-based data

Question 29

Which phase involves selecting the related data from many available databases to correctly describe a given business task?

Answer 29

Data Understanding

Question 30

What is the definition of Mean

Answer 30

The average value of a dataset

Question 31

How is the Mean calculated?

Answer 31

By summing all values and dividing by the number of values

Question 32

What does the Median represent?

Answer 32

The middle value when arranged in order

Question 33

Which measure of central tendency can have multiple values?

Answer 33

Mode

Question 34

What is the primary purpose of measures of central tendency?

Answer 34

Organizing, summarizing, and visualizing data

Question 35

"Find the mean score of 10 students in a midterm exam in a class if their scores are: 25 27 30 23 16 27 29 14 20 28"

Answer 35

23.9

Question 36

What is the formula for the mean of population data?

Answer 36

Summation of x * f divided by N | u = SUM(x * f) / N

Question 37

How is the mean for sample data calculated?

Answer 37

Summation of x * f divided by small n | u = SUM(x * f) / n

Question 38

What is the midrange of the data set 11, 13, 4, 30, 9, 15?

Answer 38

17