Midterm \

Question 1

Independent Variable

Answer 1

Variables used for explaining values of the dependent variable and denoted by X

Question 2

Linear Regression

Answer 2

Regression analysis where relationships between the independent and dependent variable are approximated by a straight line

Question 3

Simple linear regression

Answer 3

regression analysis that involves one dependent and one independent variable

Question 4

Multiple Linear Regression

Answer 4

regression analysis involving one dependent variable and more than one independent variable

Question 4

Dummy Variable

Answer 4

a variable used to model the effect of categorical independent variables in a regression model

Question 5

Least Square Method

Answer 5

a procedure for using sample data to find the estimated regression equation

Question 6

Business Analytics

Answer 6

the scientific process of transforming data into insight for making a better decision

Question 7

what are the 3 types of analytics

Answer 7

Descriptive, Predictive, Prescriptive

Question 7

What is descriptive analytics?

Answer 7

Analytics that has described what has happened (ex: queries, reports, data mining)

Question 7

What is predictive analytics?

Answer 7

techniques that used models constructed from past data to predict the future

Question 8

what is prescriptive analytics

Answer 8

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

Question 9

What Are some Business Analytics examples

Answer 9

Financial, H.R., Marketing, Healthcare, and supply chain

Question 10

what are the steps in the decision-making process?

Answer 10

1)identify and define the problem,
(2)determine the criteria that will be used to evaluate alternative solutions,
(3)determine the set of alternative solutions,
(4)evaluate the alternatives, and
(5)choose an alternative.

Question 11

Cluster Analysis

Answer 11

the goal of clustering is to organize observations into smaller groups based on observable variables.

Question 12

what does k-clustering mean?

Answer 12

process of organizing observations into one of K groups based on a measure of similarity

Question 13

what is hierarchical clustering?

Answer 13

Process of agglomerating observations into a series of nested groups based on a measure of similarity.

Question 14

what is Euclidean distance?

Answer 14

Geometric measure of dissimilarity between observations based on the Pythagorean theorem.

Question 15

Jaccard distance

Answer 15

Measure of dissimilarity between observations based on Jaccard’s coefficient.

Question 16

Matching distance

Answer 16

Measure of dissimilarity between observations based on the matching coefficient.

Question 17

Matching coefficient

Answer 17

Measure of similarity between observations based on the number of matching values of categorical variables.

Question 18

Manhattan distance

Answer 18

Measure of dissimilarity between two observations based on the sum of the absolute differences in each variable dimensions.

Question 19

Single linkage

Answer 19

The measure of calculating dissimilarity between clusters by considering only the two most similar observations between the two clusters.

Question 20

Complete linkage
2

Answer 20

Measure of calculating dissimilarity between clusters by considering only the two most dissimilar observations between the two clusters.

Question 21

Group average linkage

Answer 21

Measure of calculating dissimilarity between clusters by considering the distance between each pair of observations between two clusters.

Question 22

Centroid linkage

Answer 22

Method of calculating dissimilarity between clusters by considering the two centroids of the respective clusters.

Question 23

Median linkage

Answer 23

Method that computes the similarity between two clusters as the median of the similarities between each pair of observations in the two clusters.