Quiz on Predictive Analytics and Statistical Methods

What are the three types of tasks analysts engage in?

• Descriptive, Predictive, and Prescriptive

• Predictive, Analytical, and Prescriptive

• Descriptive, Predictive, and Evaluative

• Descriptive, Analytical, and Statistical

Which method is used to predict a numerical outcome for an individual record?

• Classification

• Prediction

• Clustering

• Segmentation

What is the primary aim of predictive analytics?

• To analyze historical data

• To forecast trends and behavior

• To collect data

• To visualize data

In which field is predictive analytics used for credit scoring?

• Financial Services

• Marketing

• Healthcare

• Manufacturing

What does the k-Nearest Neighbor method classify based on?

• The average of all records

• Records most similar to the new case

• Random selection of records

• The oldest records available

Which method is similar to k-Nearest Neighbor but restricted to categorical variables?

• Neural Networks

• Naïve Bayes

• Logistic Regression

• Multiple Linear Regression

What is the first step in the process of classification and prediction trees?

• Choose the split point

• Pick a predictor variable

• Evaluate homogeneity of records

• Sort values from low to high

What does multiple linear regression model?

• The relationship between one dependent variable and one independent variable

• The relationship between multiple independent variables and one dependent variable

• The relationship between time series data

• The relationship between categorical variables

What does logistic regression produce?

• A time series forecast

• A linear equation

• A classification tree

• A probability for categorical outcomes

What is the purpose of time series analysis?

• To analyze data points collected over time

• To classify categorical data

• To visualize data trends

• To predict future outcomes without historical data