Data Analytics- Quiz 1 with Verified Solutions

Data Analytics- Quiz 1 with Verified Solutions What is a key challenge in data analysis? Dealing with missing or incomplete data What does a histogram show in data analysis? The distribution of numerical data What is the purpose of hypothesis testing in data analytics? To determine if there is enough evidence to support or reject a hypothesis What is the difference between correlation and causation in data analysis? Correlation refers to a relationship between variables, but causation indicates one variable directly affects another What is the first step in the data analysis process? Defining the problem and understanding the objectives 2 What is the purpose of using a scatter plot in data analysis? To visualize the relationship between two continuous variables What is the role of statistical methods in data analytics? To analyze and interpret data using mathematical models and techniques What does regression analysis help with? Predicting a numerical value based on historical data What is the significance of outliers in a dataset? Outliers can distort statistical analyses and affect predictions What is a key advantage of using SQL in data analytics? It helps retrieve and manipulate data from relational databases What does the term "big data" refer to? Large and complex data sets that require advanced processing and analytics tools 3 What is time series analysis used for? Analyzing data points collected or recorded at specific time intervals What is the purpose of feature selection in machine learning? To identify and retain the most important variables for building accurate models What is the role of predictive modeling in data analytics? To forecast future trends and outcomes based on historical data What is the difference between qualitative and quantitative data? Qualitative data is non-numeric and descriptive, while quantitative data is numerical and measurable What is dimensionality reduction in data analysis? The process of reducing the number of input variables in a dataset to improve model efficiency and performance