Predictive modeling and classification are two major areas of
study in analytics. Besides logistic regression, CART, and k-NN
find at least one different predictive modeling approach and one
classification approach. Using scholarly citations, describe how
each method is used in practice.
Predictive modeling and classification are two major
areas of study in analytics. Besides logistic regression, CART, and
k-NN find at least one different predictive modeling approach and
one classification approach.
Question 6: Analytics Concepts
What is a “model” in terms of predictive data analysis?
Give an example.
How will you explain the concept of hypothesis testing
to a layperson?
What is the difference between Mean and Median? If you
could pick only one number to explain the salaries of NBA players,
which one will you pick and why?
“With big data we can escape the straightjacket of
group identities and replace them with much more granular
predictions for each individual....
Predictive analytics in business is an important application of
multiple regression analysis. Generally speaking, what is meant by
predictive analytics? As a business owner, how could you use
regression analysis and predictive analytics to increase your
company's sales?
Predictive analytics in business is an important application of
multiple regression analysis. Generally speaking, what is meant by
predictive analytics? As a business owner, how could you use
regression analysis and predictive analytics to increase your
company's sales?
As
a business owner, consider how you could use regression analysis
and predictive analytics to increase your company's sales. If you
were creating a study, what would be the dependent variable, and
then what independent variables could be included in the study, and
why?
The following modeling activities are the basic types of
analytical modeling, EXCEPT:
What-if Analysis
Sensitivity Analysis
Goal-seeking Analysis
PESTLE Analysis