C207 OA EXAM FOR FINALS WITH
DETAILED QUESTIONS AND CERTIFIED
ANSWERS APPROVED BY ACEMARKET
GUARANTEED 100% PASS
ANALYTICS & INDEXING
Q: What is Simple Indexing?
A: A performance measure comparing current data to a base period.
Formula: (Current Price ÷ Base Price) × 100
Example: Big Mac → (4.80 ÷ 1.60) × 100 = 300 (price is 3× higher)
Q: What is a Weighted Index?
A: An index that assigns weights to account for differences in importance.
Q: Why include analytics in decision-making?
A:
• Lower data storage costs
• Higher processing power
TYPES OF ANALYTICS
Q: What is Descriptive Analytics?
A: Describes past and current data.
Example: Prices increased 2% last year.
Q: What is Predictive (Inferential) Analytics?
A: Uses past data to predict the future.
Example: Predicting a 1.5% price increase.
Q: What is Prescriptive Analytics?
A: Uses data to recommend decisions.
Example: Increasing charging stations to boost sales.
, BIG DATA & DATA TYPES
Q: What is Big Data?
A: Data too large for traditional processing.
Stored in data warehouses
Used to identify trends and influence buying behavior
Data Types
Structured (Quantitative): predefined formats
Example: multiple choice, names, stock tickers
Unstructured (Qualitative): free-form data
Example: text, audio, video
Continuous: any numeric value
Example: temperature, height
Discrete: whole numbers only
Example: number of customers
Interval: equal spacing, zero ≠ none
Example: dates, temperature
Ratio: true zero
Example: money, weight
Ordinal: ranked categories
Example: gold, silver, bronze
Nominal: labeled categories
Example: male/female
Attribute Data: yes/no, pass/fail
DATA QUALITY & ERROR
Q: What is Data Management?
A: Cleaning and organizing data.
Q: Reliability vs Validity?
• Reliability = consistent
DETAILED QUESTIONS AND CERTIFIED
ANSWERS APPROVED BY ACEMARKET
GUARANTEED 100% PASS
ANALYTICS & INDEXING
Q: What is Simple Indexing?
A: A performance measure comparing current data to a base period.
Formula: (Current Price ÷ Base Price) × 100
Example: Big Mac → (4.80 ÷ 1.60) × 100 = 300 (price is 3× higher)
Q: What is a Weighted Index?
A: An index that assigns weights to account for differences in importance.
Q: Why include analytics in decision-making?
A:
• Lower data storage costs
• Higher processing power
TYPES OF ANALYTICS
Q: What is Descriptive Analytics?
A: Describes past and current data.
Example: Prices increased 2% last year.
Q: What is Predictive (Inferential) Analytics?
A: Uses past data to predict the future.
Example: Predicting a 1.5% price increase.
Q: What is Prescriptive Analytics?
A: Uses data to recommend decisions.
Example: Increasing charging stations to boost sales.
, BIG DATA & DATA TYPES
Q: What is Big Data?
A: Data too large for traditional processing.
Stored in data warehouses
Used to identify trends and influence buying behavior
Data Types
Structured (Quantitative): predefined formats
Example: multiple choice, names, stock tickers
Unstructured (Qualitative): free-form data
Example: text, audio, video
Continuous: any numeric value
Example: temperature, height
Discrete: whole numbers only
Example: number of customers
Interval: equal spacing, zero ≠ none
Example: dates, temperature
Ratio: true zero
Example: money, weight
Ordinal: ranked categories
Example: gold, silver, bronze
Nominal: labeled categories
Example: male/female
Attribute Data: yes/no, pass/fail
DATA QUALITY & ERROR
Q: What is Data Management?
A: Cleaning and organizing data.
Q: Reliability vs Validity?
• Reliability = consistent
