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(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



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