review topic 1-4

According to the logical process of data analytics, which of the following correctly represents the sequence of three analytical levels?

• Predictive → Prescriptive → Descriptive

• Descriptive → Predictive → Prescriptive

• Descriptive → Prescriptive → Predictive

• Prescriptive → Predictive → Descriptive

What is the main goal of Descriptive Analytics?

• A. Forecasting future trends

• B. Providing recommendations for decision-making

• C. Summarizing and describing existing data

• D. Identifying causal relationships

Which type of question does Predictive Analytics aim to answer?

• What happened?

• Why did it happen?

• What will happen?

• What should we do?

The main question addressed by Prescriptive Analytics is:

• What should be done?

• What happened?

• Why did it happen?

• What is likely to happen?

In the context of Statistical Inference, what does 'point estimation' mean?

• Estimating a range of values that contain the population parameter

• Calculating the sample mean value

• Estimating the population parameter using a single value from the sample

• Testing a statistical hypothesis

How does 'interval estimation' differ from 'point estimation'?

• A. It is based on larger samples

• B. It provides an estimated range (confidence interval) with upper and lower bounds

• C. It does not rely on probability

• D. It applies only to categorical data

What is the primary purpose of hypothesis testing in statistical inference?

• Comparing two sample means

• Testing hypotheses about population parameters based on sample data

• Calculating the probability of error

• Drawing frequency distributions

When the p-value is smaller than the significance level α (e.g., 0.05), what conclusion should be made?

• Fail to reject Ho due to random variation

• Reject Ho because there is statistical evidence supporting H1

• Conclude that the model is not valid

• Collect more data to confirm results

What is the relationship between 'estimation' and 'hypothesis testing' in statistical inference?

• A. They are independent approaches

• B. Estimation provides quantitative evidence, while testing provides qualitative evidence

• C. Both aim to infer population characteristics: estimation for parameter values, testing for decision-making