Final Quiz

📌 How is Walmart reported to have addressed its analytical needs?

• None of the options is correct
• Crowdsourcing
• Outsourcing
• Code sharing
• Social media

📌 What is the average base salary of a data scientist reported by the New York Times?

• $100,000
• $150,000
• $112,000
• $16 per hour
• $85,000 + Bonus

📌 According to professor Haider, the three important qualities to possess in order to succeed as a data scientist are:

• Good Story Teller (Argumentative).
• Judgemental.
• Proficient in Programming.
• Curious.
• Good at Math and Statistics.

📌 According to the reading, how does the author define data science?

• True
• False

📌 What is admirable about Dr. Patil’s definition of a data scientist is that it limits data science to activities involving machine learning.

• True
• False

📌 According to the reading, how does the author define data science?

• Data science is some data and more science.
• Data science is a physical science like physics or chemistry
• Data science is a way of understanding things and understanding the world.
• Data science is the art of uncovering the hidden secrets in data.
• Data science is what data scientists do.

📌 According to the reading, what is admirable about Dr. Patil’s definition of a data scientist?

• His definition excludes statistics.
• His definition is inclusive of individuals from various academic backgrounds and training.
• His definition limits data science to activities involving machine learning.
• His definition is about weaving strong narratives into analytics.

📌 According to the reading, what characteristics are said to be exhibited by the best data scientists?

• Curious individuals who ask good questions and are O.K. dealing with unstructured situations.
• Thinkers who are really curious and hold a Ph.D.
• Really curious people who ask good questions.
• Really curious engineers and statisticians.
• Really curious people who ask good questions and have at least 10 years of experience.

📌 According to the reading, the characteristics exhibited by the best data scientists are those who are curious, ask good questions, and are O.K. dealing with unstructured situations.

• True
• False

📌 Prior Variable Analysis and Principal Component Analysis are both examples of a data reduction algorithm.

• False.
• True.

📌 After the data are appropriately processed, transformed, and stored, what is a good starting point for data mining?

• Creating a relational database.
• Data Visualization.
• Machine learning.
• Non-parametric methods.

📌 In-sample forecast is the process of formally evaluating the predictive capabilities of the models developed using observed data to see how effective the algorithms are in reproducing data.

• True
• False

📌 When data are missing in a systematic way, you can simply extrapolate the data or impute the missing data by filling in the average of the values around the missing data.

• True
• False

📌 Who developed the statistical technique known as regression?

• Thomas Bayes
• Gerolamo Cardano
• Sir Frances Galton
• Sir Isaac Newton
• Blaise Pascal

📌 The author discovered that houses located more than 2.5 kms to shopping centres sold for less than the rest.

• True.
• False.

📌 Based on the reading, which of the following are questions that can be put to regression analysis?

• Do homes with brick exterior sell for less than homes with stone exterior?
• What is the impact of lot size on housing price?
• What are typical land taxes in a house sale?
• Do homes with brick exterior sell in rural areas?

📌 Regression is a statistical technique developed by Sir Frances Galton.

• True.
• False.

📌 “What are typical land taxes in a house sale?” is a question that can be put to regression analysis.

• True.
• False.

📌 The real added value of the author’s research on residential real estate is quantifying the magnitude of relationships between housing prices and different determinants.

• True
• False

📌 Regression is a statistical technique developed by Sir Frances Galton.

• True
• False

📌 According to the reading, the author discovered that an additional bedroom adds more to the housing prices than an additional washroom.

• True
• False (other way round)

📌 The author discovered that, all else being equal, houses located less than 5km but more than 2km to shopping centres sold for more than the rest.

• True
• False

📌 “What are typical land taxes in a house sale?” is a question that can be put to regression analysis.

• True
• False

📌 The United States Economic Forecast is a publication by:

• Cambridge University Press.
• McGraw-Hill Education.
• Deloitte University Press
• McKinsey Publication Inc.

📌 The results section is where you craft your main arguments and present your conclusion.

• True
• False

📌 The discussion section is where you:

• Refer the reader to the research question and the knowledge gaps you identified earlier.
• Introduce the research methods and data sources used for the analysis.
• Rely on the power of narrative to enable numbers to communicate your important findings to the readers.
• Highlight how your findings provide the ultimate missing piece to the puzzle.

📌 Adding a list of references and an acknowledgment section are examples of housekeeping, according to the author.

• False.
• True.

📌 The results section is where you craft your main arguments and present your conclusion.

• True
• False

📌 The results section is where you present:

• The empirical findings.
• The conclusion.
• The methods used.
• R Squared.

📌 Regardless of the length of the final deliverable, the author recommends that it includes a cover page, table of contents, executive summary, a methodology section, and a discussion section.

• True.
• False.

📌 An introductory section is always helpful in:

• Presenting the statistical calculations.
• Introducing the research methods.
• Setting up the problem for the reader who might be new to the topic.
• Advertising the product.

📌 According to the Module 1 reading, “The Sexiest Job in the 21st Century”, what private-sector think tank published a report that projected there will be a shortage of 140,000 – 190,000 people with deep analytical skills in the United States by 2018?

• McKinsey Global Institute
• A.T. Kearney
• Boston Consulting Group
• Accenture

📌 According to the Module 1 reading, “The Sexiest Job in the 21st Century”, which of the following jobs was called by the Harvard Business Review the sexiest job of the 21st century?

• Data Science.
• Engineering.
• Math and Statistics.
• Renewable Energy Engineering.
• Coal Mining.

📌 According to the Module 1 reading “What Makes Someone a Data Scientist”, Hal Varian, the chief economist at what company, declared that “the sexy job in the next ten years will be statisticians”?

• Google
• Microsoft
• Facebook
• IBM

📌 According to the Module 1 reading “What Makes Someone a Data Scientist”, the author defines a data scientist as someone who finds solutions to problems by analyzing data using appropriate tool and then tells stories to communicate their finding to the relevant stakeholders.

• False.
• True.

📌 According to the Module 2 reading “Data Mining”, the output of what type of exercise largely depends on the quality of the data?

• Data mining
• Hypothetical
• Experimental
• Data processing

📌 According to the Module 2 reading, “Data Mining”, when data are missing in a systematic way, you can simply extrapolate the data or impute the missing data by filling in the average of the values around the missing data.

• True.
• False.

📌 Based on the Module 2 reading, “Regression”, the author’s research on residential real estate properties quantified the magnitude of the relationships between housing prices and what?

• Different determinants
• Mass transit availability
• Mortgage rates
• The current economy

📌 Based on the Module 2 reading, “Regression”, the author’s research revealed that adding an additional washroom had a bigger impact than adding what type of room?

• Dining room
• Playroom
• Theater room
• Bedroom

📌 According to the Module 3 reading, “The Final Deliverable”, the ultimate purpose of analytics is to communicate findings to stakeholders to do what?

• Efficiently store big data with minimum storage requirements
• Formulate policy or strategy
• Facilitate meetings between sales and marketing
• Evangelize data science

📌 Based on the Module 3 reading, “The Final Deliverable”, what is the role of a data scientist??

• Developing a strategy to fix the problems in the findings.
• Managing a team of analysts to create a predictive model.
• Using the data to put together a story that boosts financial outlooks.
• Using insights to build a narrative to communicate findings.

📌 Based on the Module 3 reading, “The Report Structure”, regardless of the length of the ___________, the author recommends that it includes a cover page, table of contents, executive summary, a methodology section, and a discussion section.

• Final deliverable
• Spreadsheet
• Presentation
• Data set

📌 Based on the Module 3 reading, “The Report Structure”, an introductory section is always helpful in setting up the problem for the reader who might be what?

• Wanting to know the research methods
• New to the topic
• In sales
• Looking for the statistical calculations