(Solved): WPC300-33872 Assignments: Quiz 1...

Over-reliant on the first piece of information is called ____________

•    Clustering illusion
•    Bandwagon effect
•    Anchoring bias
•    Zero risk bias

Gamblers' fallacy is ______________

•  Framing effect bias
•  A clustering illusion
•  An endowment effect bias
•   A Zero risk bias

When you keep eating the food you don't like precisely because you already bought the food, you are committing _______________

•    Sunk-cost fallacy
•    Endowment effect bias
•    Zero risk bias
•    Availability heuristics bias

Predictive analytics may be applied to_______________, which is a set of techniques that use descriptive data and forecasts to identify the decisions most likely to result in the best performance.

•   Descriptive analytics
•    Forecast analytics
•    Prescriptive analytics
•    Explanatory analytics

Which of the following data analytics model use optimization techniques?

•   Diagnostic analytics
•    Descriptive analytics
•    Predictive analytics
•    Prescriptive analytics

Which of the following is an example of secondary data?

•   Firm's proprietary data
•   Simulated data
•    Interviews data
•    Survey data

Which of the following statements is true?

•   Using intuition is a way of analytical thinking  
•   Experimentation is a way of analytical thinking
•   Analytical thinking is not based on facts
•   Heuristic thinking is slow

In an agile approach of analytics what is the first step of the process?

•   Score and deploy
•   Perform business discovery
•    Perform data discovery
•    Model data

What are the four types of data analytical method?

•   Descriptive, analytical, predictive and prescriptive
•    Critical, analytical, predictive and explanatory
•    Descriptive, explanatory, predictive and prescriptive
•    Descriptive, logical, predictive and prescriptive

In an ETL process, data is loaded into a final target database such as:

•   Public database
•    Data warehouse
•    Operational dashboard
•    Social media database