ACC 2500 Exam 2 Review

What type of analysis involves using data to answer "what if" questions?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

Which type of question does prescriptive analytics address?

• What happened?

• What should we do based on what we expect will happen?

• Why did it happen?

• Will it happen in the future?

Which type of analysis involves identifying the root cause of a problem?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

Which component of the AMPS model involves identifying and selecting the data that will be used in the analysis?

• Ask the Question

• Perform the Analysis

• Share the Story

• Master the Data

What type of analysis involves using historical data to guess future events or trends?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

A sports team is interested in modeling the distribution of the number of goals they score in each game. Which of the following distributions would be most appropriate to use for this scenario?

• Normal distribution

• Poisson distribution

• Uniform distribution

• Exponential distribution

What type of analytics would predict if a company is expected to go bankrupt?

• Descriptive analytics

• Diagnostic analytics

• Predictive analytics

• Prescriptive analytics

If we wanted to know what level of sales was achieved last quarter at a competitor company, we would perform what type of analytics.

• descriptive

• diagnostic

• predictive

• prescriptive

A z-score tells us how many __________, a data point (or observation), x_i, is from its population mean, μ?

• units

• standard deviations

• standard errors

• increments

If p-value of a statistical test > alpha threshold, you

• should reject the alternate hypothesis (i.e., significant result).

• should fail to reject the null hypothesis (i.e., not significant result).

• accept the null hypothesis.

• have insufficient evidence to either reject or fail to reject the alternate hypothesis.