Question 1

What is the primary purpose of a problem statement in analytics?

Options :

A : To select software tools

B : To define the issue and objectives

C : To gather data

D : To train models

Answer: B

Question 2

How should you handle unexpected results during the analytics process?

Options :

A : Ignore them

B : Revisit the problem definition and approach

C : Adjust the analytical methods

D : Focus solely on the data

Answer: B

Question 3

What is a key consideration when transitioning from one model to another?

Options :

A : Limiting stakeholder involvement

B : Ensuring data and performance continuity

C : Reducing model complexity

D : Ignoring previous model performance

Answer: B

Question 4

What is the purpose of a Monte Carlo simulation in analytics?

Options :

A : To perform descriptive analysis

B : To assess risk and uncertainty

C : To cluster data

D : To normalize data

Answer: B

Question 5

What is the purpose of using a validation set during model building?

Options :

A : To train the model

B : To test the model on unseen data

C : To adjust hyperparameters

D : To evaluate model performance on a subset of data

Answer: D