ISYE 6501 FINAL EXAM| QUESTIONS AND GUARANTEED
CORRECT ANSWER| LATEST EXAM UPDATE 2025/2026.
1-norm - CORRECT ANSWERSimilar to rectilinear distance; measures the
straight-line length of a vector from the origin. If z=(z1,z2,...,zm) is a vector in
an m-dimensional space, then it's 1-norm is square root(|𝑧1|+|𝑧2|+⋯+|𝑧𝑚| =
|𝑧1|+|𝑧2|+⋯+|𝑧| = Σm over i=1 |𝑧𝑖|
A/B Testing - CORRECT ANSWERtesting two alternatives to see which one
performs better
2-norm - CORRECT ANSWERSimilar to Euclidian distance; measures the
straight-line length of a vector from the origin. If z=(z1,z2,...,zm) is a vector in
an 𝑚-dimensional space, then its 2-norm is the same as 1-norm but everything
is squared= square root(Σm over i=1 (|𝑧𝑖|)^2)
Accuracy - CORRECT ANSWERFraction of data points correctly classified
by a model; equal to TP+TN / TP+FP+TN+FN
Action - CORRECT ANSWERIn ARENA, something that is done to an entity.
Additive Seasonality - CORRECT ANSWERSeasonal effect that is added to a
baseline value (for example, "the temperature in June is 10 degrees above the
annual baseline").
Adjusted R-squared - CORRECT ANSWERVariant of R2 that encourages
simpler models by penalizing the use of too many variables.
,AIC - CORRECT ANSWERAkaike information criterion- Model selection
technique that trades off between model fit and model complexity. When
comparing models, the model with lower AIC is preferred. Generally penalizes
complexity less than BIC.
Algorithm - CORRECT ANSWERStep-by-step procedure designed to carry
out a task.
Analysis of Variance/ANOVA - CORRECT ANSWERStatistical method for
dividing the variation in observations among different sources.
Approximate dynamic program - CORRECT ANSWERDynamic
programming model where the value functions are approximated.
Arc - CORRECT ANSWERConnection between two nodes/vertices in a
network. In a network model, there is a variable for each arc, equal to the
amount of flow on the arc, and (optionally) a capacity constraint on the arc's
flow. Also called an edge.
Area under the curve (AUC) - CORRECT ANSWERArea under the ROC
curve; an estimate of the classification model's accuracy. Also called
concordance index.
ARIMA - CORRECT ANSWERAutoregressive integrated moving average.
Arrival Rate - CORRECT ANSWERExpected number of arrivals of people,
things, etc. per unit time -- for example, the expected number of truck deliveries
per hour to a warehouse.
,Assignment Problem - CORRECT ANSWERNetwork 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 ANSWERA characteristic or measurement - for
example, a person's height or the color of a car. Generally interchangeable with
"feature", and often with "covariate" or "predictor". In the standard tabular
format, a column of data.
Autoregression - CORRECT ANSWERRegression technique using past values
of time series data as predictors of future values.
Autoregressive integrated moving average (ARIMA) - CORRECT
ANSWERTime series model that uses differences between observations when
data is nonstationary. Also called Box-Jenkins.
Backward elimination - CORRECT ANSWERVariable selection process that
starts with all variables and then iteratively removes the least-immediately-
relevant variables from the model.
Balanced Design - CORRECT ANSWERSet 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 ANSWERAn entity arrives to the queue, sees the size of
the line (or some other attribute), and decides to leave the system.
Bayes' theorem/Bayes' rule - CORRECT ANSWERFundamental rule of
conditional probability: 𝑃(𝐴|𝐵)=𝑃(𝐵|𝐴)*𝑃(𝐴) / 𝑃(𝐵)
, Bayesian Information criterion (BIC) - CORRECT ANSWERModel selection
technique that trades off model fit and model complexity. When comparing
models, the model with lower BIC is preferred. Generally penalizes complexity
more than AIC.
Bayesian Regression - CORRECT ANSWERRegression model that
incorporates estimates of how coefficients and error are distributed.
Bellman's Equation - CORRECT ANSWEREquation used in dynamic
programming that ensures optimality of a solution.
Bernoulli Distribution - CORRECT ANSWERDiscrete probability distribution
where the outcome is binary, either 0 or 1. Often, 1 represents success and 0
represents failure. The probability of the outcome being 1 is 𝑝 and the
probability of outcome being 0 is 𝑞 = 1−𝑝, where 𝑝 is between 0 and 1.
Bias - CORRECT ANSWERSystematic difference between a true parameter
of a population and its estimate.
Binary Data - CORRECT ANSWERData that can take only two different
values (true/false, 0/1, black/white, on/off, etc.)
Binary integer program - CORRECT ANSWERInteger program where all
variables are binary variables.
Binary Variable - CORRECT ANSWERVariable that can take just two values:
0 and 1.
CORRECT ANSWER| LATEST EXAM UPDATE 2025/2026.
1-norm - CORRECT ANSWERSimilar to rectilinear distance; measures the
straight-line length of a vector from the origin. If z=(z1,z2,...,zm) is a vector in
an m-dimensional space, then it's 1-norm is square root(|𝑧1|+|𝑧2|+⋯+|𝑧𝑚| =
|𝑧1|+|𝑧2|+⋯+|𝑧| = Σm over i=1 |𝑧𝑖|
A/B Testing - CORRECT ANSWERtesting two alternatives to see which one
performs better
2-norm - CORRECT ANSWERSimilar to Euclidian distance; measures the
straight-line length of a vector from the origin. If z=(z1,z2,...,zm) is a vector in
an 𝑚-dimensional space, then its 2-norm is the same as 1-norm but everything
is squared= square root(Σm over i=1 (|𝑧𝑖|)^2)
Accuracy - CORRECT ANSWERFraction of data points correctly classified
by a model; equal to TP+TN / TP+FP+TN+FN
Action - CORRECT ANSWERIn ARENA, something that is done to an entity.
Additive Seasonality - CORRECT ANSWERSeasonal effect that is added to a
baseline value (for example, "the temperature in June is 10 degrees above the
annual baseline").
Adjusted R-squared - CORRECT ANSWERVariant of R2 that encourages
simpler models by penalizing the use of too many variables.
,AIC - CORRECT ANSWERAkaike information criterion- Model selection
technique that trades off between model fit and model complexity. When
comparing models, the model with lower AIC is preferred. Generally penalizes
complexity less than BIC.
Algorithm - CORRECT ANSWERStep-by-step procedure designed to carry
out a task.
Analysis of Variance/ANOVA - CORRECT ANSWERStatistical method for
dividing the variation in observations among different sources.
Approximate dynamic program - CORRECT ANSWERDynamic
programming model where the value functions are approximated.
Arc - CORRECT ANSWERConnection between two nodes/vertices in a
network. In a network model, there is a variable for each arc, equal to the
amount of flow on the arc, and (optionally) a capacity constraint on the arc's
flow. Also called an edge.
Area under the curve (AUC) - CORRECT ANSWERArea under the ROC
curve; an estimate of the classification model's accuracy. Also called
concordance index.
ARIMA - CORRECT ANSWERAutoregressive integrated moving average.
Arrival Rate - CORRECT ANSWERExpected number of arrivals of people,
things, etc. per unit time -- for example, the expected number of truck deliveries
per hour to a warehouse.
,Assignment Problem - CORRECT ANSWERNetwork 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 ANSWERA characteristic or measurement - for
example, a person's height or the color of a car. Generally interchangeable with
"feature", and often with "covariate" or "predictor". In the standard tabular
format, a column of data.
Autoregression - CORRECT ANSWERRegression technique using past values
of time series data as predictors of future values.
Autoregressive integrated moving average (ARIMA) - CORRECT
ANSWERTime series model that uses differences between observations when
data is nonstationary. Also called Box-Jenkins.
Backward elimination - CORRECT ANSWERVariable selection process that
starts with all variables and then iteratively removes the least-immediately-
relevant variables from the model.
Balanced Design - CORRECT ANSWERSet 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 ANSWERAn entity arrives to the queue, sees the size of
the line (or some other attribute), and decides to leave the system.
Bayes' theorem/Bayes' rule - CORRECT ANSWERFundamental rule of
conditional probability: 𝑃(𝐴|𝐵)=𝑃(𝐵|𝐴)*𝑃(𝐴) / 𝑃(𝐵)
, Bayesian Information criterion (BIC) - CORRECT ANSWERModel selection
technique that trades off model fit and model complexity. When comparing
models, the model with lower BIC is preferred. Generally penalizes complexity
more than AIC.
Bayesian Regression - CORRECT ANSWERRegression model that
incorporates estimates of how coefficients and error are distributed.
Bellman's Equation - CORRECT ANSWEREquation used in dynamic
programming that ensures optimality of a solution.
Bernoulli Distribution - CORRECT ANSWERDiscrete probability distribution
where the outcome is binary, either 0 or 1. Often, 1 represents success and 0
represents failure. The probability of the outcome being 1 is 𝑝 and the
probability of outcome being 0 is 𝑞 = 1−𝑝, where 𝑝 is between 0 and 1.
Bias - CORRECT ANSWERSystematic difference between a true parameter
of a population and its estimate.
Binary Data - CORRECT ANSWERData that can take only two different
values (true/false, 0/1, black/white, on/off, etc.)
Binary integer program - CORRECT ANSWERInteger program where all
variables are binary variables.
Binary Variable - CORRECT ANSWERVariable that can take just two values:
0 and 1.
