Day 1 Concepts

Question 1

Techniques that use models constructed from past data to predict the future or to ascertain the impact of one variable on another.

Answer 1

Predictive analytics

Question 2

Techniques that analyze input data and yield a best course of action.

Answer 2

Prescriptive

Question 3

Analytics based on data, while no mathematical relationships are needed for the data, analysis cannot be done without this data

Answer 3

Data based analytics

Question 4

Type of analytics based on models

Answer 4

Model based analytics

Question 5

Data that you collect

Answer 5

primary data

Question 6

Data that someone else collects

Answer 6

Secondary data

Question 7

Graphs and numbers fall under what catagory

Answer 7

descriptive statistics

Question 8

Statistics based on data from a larger, unknown number, and how the smaller sample describes the larger data set

Answer 8

inferential statistics

Question 9

What is categorical data?

Answer 9

Data that are not numbers, colors etc

Question 10

What is quantitative data?

Answer 10

Numbers

Question 11

Data based on the order

Answer 11

Ordinal

Question 12

Data based on name

Answer 12

nominal

Question 13

Data based on a setpoint, 15 degrees hotter than 60 etc

Answer 13

interval