D204 Lesson 2 Questions and Answers 100% Pass

D204 Lesson 2 Questions and Answers 100% Pass Raj reviews performance scores for a department's employees on a 1 to 10 scale, with 1 being the lowest. What would a mean of 7.8, a median of 4, and a mode of 6 suggest t ...

D204 Lesson 2 Questions and Answers 100% Pass Raj reviews performance scores for a department's employees on a 1 to 10 scale, with 1 being the lowest. What would a mean of 7.8, a median of 4, and a mode of 6 suggest to Raj? ✔✔The average score is skewed to a small number of high-performing employees. Which statement is correct about analytics? ✔✔All analytics are based on data that has been derived from observations. Whether the data is quantitative or qualitative, data is derived from a set of observations. Data analytics does not have to be complex and confusing. If you have a command of summary statistics , you can help your company identify patterns that can be explored further. ✔✔The simple summary statistics of mean, median, mode, and standard deviation can reveal trends for someone who is not an expert statistician. You own a florist shop where your revenue depends on how many flowers each customer buys. If the average sale for roses is a dozen, and one standard deviation is three, what does this tell you? ✔✔For two-thirds of your sales, customers will buy between nine and fifteen roses. Feedback Both add and subtract the standard deviation from the mean to arrive at the range. Two-thirds of your sales will fall in the range. Which statement is most accurate about "one standard deviation" in a normal distribution? ✔✔Roughly one-third of data points are beyond one standard deviation from the mean. / Because roughly 68% of data points were within one standard deviation from the mean, this is just another way of saying it. If you had to choose between having a high level of business acumen or being an expert statistician, which choice would provide more value to your company and why? ✔✔Business acumen will let you formulate questions because they align with business strategy. / It is far more valuable to a company to have someone who understands the company's strategy, and can find answers to business problems. To properly use data analytics tools, which two things must you always do? ✔✔You must understand the data, and you must focus on the questions you want to have answered. Feedback Remember, the only reason you are using data analytics is to have data that answer a business question. What is most likely to cause a delay and adversely impact a company's deadline in performing a data analysis of a particular business problem? ✔✔The data you have access to is not clean. Feedback If the data is not clean it can cause an unforeseen delay. EDARP ✔✔Convince the organization of the potential value of of your work. support of the organization will help drive the success of the project!! EDARP plan allows us to understand the objective and detail our path to the objectives. All parties involved can align their expecatations. Drives buy-in from the organization in support of the project. EDARP in business? ✔✔Driven by the needs of the orgnization. Macy act as a sort of project charter between teams. Deliverables may be pushed to the analyst from the organization. Must have balance between inerpretability and robustness of the outputs. EDARP in Academic? ✔✔Driven by the researchers and the field of Study. Final output does not need to fit within business constraints. Concerned with advancing a field of study May not require discussion of budget constraint. Data Wrangling ✔✔We can begin sorting through the data to determine how we can address the questions? Data Sources: Structured, unstructured, internal, external. Data formatting is important as the methods used for modeling the data often require specific formats for the model inputs. components of EDARP ✔✔1) questions and objectives. 2) defining the methods to explore and define this question. 3)What data we have and need to access the info. 4)determine the budget. 5)Focus on stakeholders that are sponsoring this budget/project. 6)Think about the end users and how they will be affected by the research. 7) Developing course of action to ensure maintenance in upkeep. Defining the question. Ambiguity in what is really being asked. The requesting party often does not know what they are seeking. A solid understanding of the root questions must be achieved. Working backwards from the desired output can help frame the right question to ask.