QUIZIZZ_BA_TYPES OF PRESCRIPTIVE MODELLING_16052023

What is the primary goal of optimization modeling?

• a) Describe data patterns
• b) Predict future trends
• c) Find optimal solutions
• d) Identify correlations

Which type of prescriptive modeling technique aims to maximize profits or minimize costs?

• a) Regression modeling
• b) Simulation modeling
• c) Decision tree modeling
• d) Linear programming

What is the purpose of simulation modeling in business analytics?

• a) Predict future outcomes
• b) Identify trends
• c) Find optimal solutions
• d) Mimic real-world systems

Which type of prescriptive modeling technique is used to analyze complex decisions with multiple variables?

• a) Decision tree modeling
• b) Regression modeling
• c) Simulation modeling
• d) Linear programming

In linear programming, what term describes the constraints that must be satisfied?

• a) Decision variables
• b) Objective function
• c) Feasible region
• d) Dual variables

Which prescriptive modeling technique uses decision trees to represent possible decision outcomes?

• a) Regression modeling
• b) Simulation modeling
• c) Linear programming
• d) Decision tree modeling

What is the main objective of regression modeling?

• a) Find optimal solutions
• b) Identify trends
• c) Predict future outcomes
• d) Analyze complex decisions

Which technique is used in regression modeling to find the relationship between dependent and independent variables?

• a) Clustering
• b) Association rule mining
• c) Correlation analysis
• d) Hypothesis testing

What is the purpose of clustering in business analytics?

• a) Predict future outcomes
• b) Identify trends
• c) Group similar data
• d) Analyze complex decisions

Which type of prescriptive modeling technique is based on statistical techniques to find associations between variables?

• a) Regression modeling
• b) Simulation modeling
• c) Association rule mining
• d) Linear programming