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SAM > FA1-FA2 > Flashcards

FA1-FA2 Flashcards

1
Q

What is the primary focus of statistics?

A

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

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2
Q

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

A

Experimental Data

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3
Q

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

A

Contractual, Subscription, or Account Data

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4
Q

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

A

Transactional Data

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5
Q

What is the main purpose of surveys in data collection?

A

To extract sociodemographic and behavioral data

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6
Q

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

A

Unstructured Data

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7
Q

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

A
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8
Q

Which of the following is an example of unstructured data?

A

Social media posts

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9
Q

What is the main focus of descriptive analytics?

A

Understanding past data

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10
Q

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

A

Hypothesis testing and regression analysis

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11
Q

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

A

Diagnostic Analytics

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12
Q

What does analytics emphasize in addition to statistical methods?

A

Predictive modeling and data mining

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13
Q

Which of the following best describes the scope of analytics?

A

Integrates statistical methods with advanced computational techniques

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14
Q

What is the first step in the data analysis process

A

Prepare data

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15
Q

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

A

Printed Books

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16
Q

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

A

Step 2- Extract Patterns

17
Q

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

A

Gaining insights or making informed decisions based on analyzed data

18
Q

Which of the following is an example of transactional data?

A

Credit card payment

19
Q

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

A

Information about the type of product combined with customer characteristics

20
Q

What is the primary aim of surveys?

A

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

21
Q

What is unstructured data?

A

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

22
Q

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

A

Marketing and credit risk assessment

23
Q

What is the first phase in the data analytics process?

A

Business Understanding

24
Q

What is the primary goal of the Business Understanding phase?

A

Evaluating the model

25
Q

Which phase involves selecting related data from various databases?

A

Data Understanding

26
Q

What is the primary focus of the Modelling phase?

A

Applying statistical and machine learning algorithms

27
Q

Which phase involves evaluating the performance of the model?

A

Evaluation

28
Q

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

A

Time-based data

29
Q

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

A

Data Understanding

30
Q

What is the definition of Mean

A

The average value of a dataset

31
Q

How is the Mean calculated?

A

By summing all values and dividing by the number of values

32
Q

What does the Median represent?

A

The middle value when arranged in order

33
Q

Which measure of central tendency can have multiple values?

A

Mode

34
Q

What is the primary purpose of measures of central tendency?

A

Organizing, summarizing, and visualizing data

35
Q

“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”

A

23.9

36
Q

What is the formula for the mean of population data?

A

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

37
Q

How is the mean for sample data calculated?

A

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

38
Q

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

A

17

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