WorksheetsAnalytics_Modeling_W1
Total questions: 15
Worksheet time: 8mins
Which of the following best defines analytics modeling?
The process of collecting random data without analysis
Using statistical and computational techniques to analyze and predict outcomes
Only creating visual charts without interpretation
Storing data in spreadsheets
Which is NOT a key benefit of analytics modeling?
Improved decision-making
Cost optimization
Increased operational risk
Risk mitigation
Descriptive analytics focuses on:
Predicting the future
Understanding past and current data
Recommending specific actions
Simulating possible outcomes
Predictive analytics is mainly used for:
Forecasting trends and future outcomes
Displaying historical data
Determining the best course of action
Eliminating data errors
Prescriptive analytics helps in:
Describing past performance
Predicting future sales
Suggesting the best actions to take
Summarizing raw data
Which of the following is an example of a descriptive analytics tool?
Decision tree
Bar chart dashboard
Regression analysis
Optimization model
Which is the first step in the analytics modeling process?
Data collection and preparation
Model validation
Problem definition
Model implementation
In analytics modeling, regression analysis is commonly used in:
Predictive analytics
Prescriptive analytics
Descriptive analytics
Data storage
Which model type uses simulations to test possible scenarios?
Descriptive
Predictive
Prescriptive
Historical
Model validation and testing are important because they:
Increase the amount of raw data
Check if the model works accurately
Eliminate the need for data preparation
Replace human decision-making entirely
A hospital uses patient history to predict the likelihood of developing diabetes. Which type of analytics is used?
Descriptive
Predictive
Prescriptive
Diagnostic
A retail chain studies last year’s sales to identify the best-selling products. Which type of analytics is being applied?
Descriptive
Predictive
Prescriptive
Experimental
A ride-sharing company uses a system to recommend the fastest and cheapest route for each trip. Which type of analytics is used?
Descriptive
Predictive
Prescriptive
Diagnostic
A weather service forecasts the temperature for the next week using historical climate data. Which model type is used?
Descriptive
Prescriptive
Diagnostic
Predictive
A manufacturing company uses a simulation to determine how a change in supplier will affect production costs. Which analytics type is this?
Descriptive
Predictive
Prescriptive
Diagnostic
