ISYE 6501 Introduction to Analytics
Modeling: Key Terms and Concepts
complete exam questions and answers.
1-norm - CORRECT ANSWERS Similar to rectilinear distance; measures the sum of the
lengths of each dimension of a vector from the origin.
A/B testing - CORRECT ANSWERS Test of two alternatives to see if either one leads to
better outcomes.
2-norm - CORRECT ANSWERS Similar to Euclidian distance; measures the straight-line
length of a vector from the origin.
Accuracy - CORRECT ANSWERS Fraction of data points correctly classified by a model.
Action - CORRECT ANSWERS In ARENA, something that is done to an entity.
Additive seasonality - CORRECT ANSWERS Seasonal effect that is added to a baseline
value.
Adjusted R-squared/Adjusted R2 - CORRECT ANSWERS Variant of R2 that encourages
simpler models by penalizing the use of too many variables.
AIC - CORRECT ANSWERS Akaike information criterion.
Akaike information criterion (AIC) - CORRECT ANSWERS Model selection technique that
trades off between model fit and model complexity.
,Algorithm - CORRECT ANSWERS Step-by-step procedure designed to carry out a task.
Analysis of Variance/ANOVA - CORRECT ANSWERS Statistical method for dividing the
variation in observations among different sources.
Approximate dynamic program - CORRECT ANSWERS Dynamic programming model where
the value functions are approximated.
Arc - CORRECT ANSWERS Connection between two nodes/vertices in a network.
Area under curve/AUC - CORRECT ANSWERS Area under the ROC curve; an estimate of the
classification model's accuracy.
ARIMA - CORRECT ANSWERS Autoregressive integrated moving average.
Arrival rate - CORRECT ANSWERS Expected number of arrivals of people, things, etc. per
unit time.
Assignment problem - CORRECT ANSWERS Network optimization model with two sets of
nodes, that finds the best way to assign each node in one set to each node in the other set.
Attribute - CORRECT ANSWERS A characteristic or measurement.
Autoregression - CORRECT ANSWERS Regression technique using past values of time
series data as predictors of future values.
,Backward elimination - CORRECT ANSWERS Variable selection process that starts with all
variables and then iteratively removes the least-immediately-relevant variables from the model.
Balanced design - CORRECT ANSWERS Set of combinations of factor values across multiple
factors, that has the same number of runs for all combinations of levels of one or more factors.
Balking - CORRECT ANSWERS An entity arrives to the queue, sees the size of the line, and
decides to leave the system.
Bayes' theorem/Bayes' rule - CORRECT ANSWERS Fundamental rule of conditional
probability.
Bayesian Information criterion (BIC) - CORRECT ANSWERS Model selection technique that
trades off model fit and model complexity.
Bayesian regression - CORRECT ANSWERS Regression model that incorporates estimates
of how coefficients and error are distributed.
Bellman's equation - CORRECT ANSWERS Equation used in dynamic programming that
ensures optimality of a solution.
Bernoulli distribution - CORRECT ANSWERS Discrete probability distribution where the
outcome is binary.
Bias - CORRECT ANSWERS Systematic difference between a true parameter of a
population and its estimate.
BIC - CORRECT ANSWERS Bayesian information criterion.
, Binary data - CORRECT ANSWERS Data that can take only two different values.
Binary integer program - CORRECT ANSWERS Integer program where all variables are
binary variables.
Binary variable - CORRECT ANSWERS Variable that can take just two values: 0 and 1.
Binomial distribution - CORRECT ANSWERS Discrete probability distribution for the exact
number of successes.
Blocking - CORRECT ANSWERS Factor introduced to an experimental design that interacts
with the effect of the factors to be studied.
Box and whisker plot - CORRECT ANSWERS Graphical representation data showing the
middle range of data.
Box-Cox transformation - CORRECT ANSWERS Transformation of a non-normally-
distributed response to a normal distribution.
Branching - CORRECT ANSWERS Splitting a set of data into two or more subsets.
CART - CORRECT ANSWERS Classification and regression trees.
Categorical data - CORRECT ANSWERS Data that classifies observations without
quantitative meaning.
Causation - CORRECT ANSWERS Relationship in which one thing makes another happen.
Modeling: Key Terms and Concepts
complete exam questions and answers.
1-norm - CORRECT ANSWERS Similar to rectilinear distance; measures the sum of the
lengths of each dimension of a vector from the origin.
A/B testing - CORRECT ANSWERS Test of two alternatives to see if either one leads to
better outcomes.
2-norm - CORRECT ANSWERS Similar to Euclidian distance; measures the straight-line
length of a vector from the origin.
Accuracy - CORRECT ANSWERS Fraction of data points correctly classified by a model.
Action - CORRECT ANSWERS In ARENA, something that is done to an entity.
Additive seasonality - CORRECT ANSWERS Seasonal effect that is added to a baseline
value.
Adjusted R-squared/Adjusted R2 - CORRECT ANSWERS Variant of R2 that encourages
simpler models by penalizing the use of too many variables.
AIC - CORRECT ANSWERS Akaike information criterion.
Akaike information criterion (AIC) - CORRECT ANSWERS Model selection technique that
trades off between model fit and model complexity.
,Algorithm - CORRECT ANSWERS Step-by-step procedure designed to carry out a task.
Analysis of Variance/ANOVA - CORRECT ANSWERS Statistical method for dividing the
variation in observations among different sources.
Approximate dynamic program - CORRECT ANSWERS Dynamic programming model where
the value functions are approximated.
Arc - CORRECT ANSWERS Connection between two nodes/vertices in a network.
Area under curve/AUC - CORRECT ANSWERS Area under the ROC curve; an estimate of the
classification model's accuracy.
ARIMA - CORRECT ANSWERS Autoregressive integrated moving average.
Arrival rate - CORRECT ANSWERS Expected number of arrivals of people, things, etc. per
unit time.
Assignment problem - CORRECT ANSWERS Network optimization model with two sets of
nodes, that finds the best way to assign each node in one set to each node in the other set.
Attribute - CORRECT ANSWERS A characteristic or measurement.
Autoregression - CORRECT ANSWERS Regression technique using past values of time
series data as predictors of future values.
,Backward elimination - CORRECT ANSWERS Variable selection process that starts with all
variables and then iteratively removes the least-immediately-relevant variables from the model.
Balanced design - CORRECT ANSWERS Set of combinations of factor values across multiple
factors, that has the same number of runs for all combinations of levels of one or more factors.
Balking - CORRECT ANSWERS An entity arrives to the queue, sees the size of the line, and
decides to leave the system.
Bayes' theorem/Bayes' rule - CORRECT ANSWERS Fundamental rule of conditional
probability.
Bayesian Information criterion (BIC) - CORRECT ANSWERS Model selection technique that
trades off model fit and model complexity.
Bayesian regression - CORRECT ANSWERS Regression model that incorporates estimates
of how coefficients and error are distributed.
Bellman's equation - CORRECT ANSWERS Equation used in dynamic programming that
ensures optimality of a solution.
Bernoulli distribution - CORRECT ANSWERS Discrete probability distribution where the
outcome is binary.
Bias - CORRECT ANSWERS Systematic difference between a true parameter of a
population and its estimate.
BIC - CORRECT ANSWERS Bayesian information criterion.
, Binary data - CORRECT ANSWERS Data that can take only two different values.
Binary integer program - CORRECT ANSWERS Integer program where all variables are
binary variables.
Binary variable - CORRECT ANSWERS Variable that can take just two values: 0 and 1.
Binomial distribution - CORRECT ANSWERS Discrete probability distribution for the exact
number of successes.
Blocking - CORRECT ANSWERS Factor introduced to an experimental design that interacts
with the effect of the factors to be studied.
Box and whisker plot - CORRECT ANSWERS Graphical representation data showing the
middle range of data.
Box-Cox transformation - CORRECT ANSWERS Transformation of a non-normally-
distributed response to a normal distribution.
Branching - CORRECT ANSWERS Splitting a set of data into two or more subsets.
CART - CORRECT ANSWERS Classification and regression trees.
Categorical data - CORRECT ANSWERS Data that classifies observations without
quantitative meaning.
Causation - CORRECT ANSWERS Relationship in which one thing makes another happen.
