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QMB 3602 Exam 2 UCF Already Rated A Management Dilemma What are the symptoms that are causing management to investigate an issue? Management Question How can management eliminate the symptoms or capitalize on the opportunity? Research Question - Questions that explore the various options - These also form the hypotheses that best states the objective of the research Investigative Question - Represents the information that the decision maker needs to know - Ex: what is the publics opini...

The correct number of clusters in Hierarchical clustering can be determined precisely using approaches such as silhouette scores (True or False) - correct answer False In K Means clustering, the analyst does not need to determine the number of clusters (K), these are always derived analytically using the kmeans algorithm. (True or False) - correct answer False One big difference between the unsupervised approaches in this module, and the supervised approaches in prior modules: Unsupervised...

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What is the z score formula? - ANSWERS(the observation - mean) / standard deviation What does a z score tell us? - ANSWERShow many standard deviations a value of from the mean How do you find the range? - ANSWERSbiggest value minus smallest value What is the formula used in excel to find the range? - ANSWERS=max(array) - min (array) If a data set has an odd number of observations, the median a. Cannot be determined b. is the value of the middle item when all items are arranged in...

Analytics - ANSWER the scientific process of transforming data into insight for making better decisions Descriptive Analytics - ANSWER Analytical techniques that describe what has happened in the past. Predictive Analytics - ANSWER Analytical techniques that use models constructed from past data to predict the future or assess the impact of one variable on another. Prescriptive Analytics - ANSWER Analytical techniques that yield a course of action. Big Data - ANSWER A set of data that can...

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