Mr. Saketh, a data scientist, received a data of his client Giridhar Enterprises which manufactures various engineering tools such as nuts, bolts, screws etc. Saketh arranged the data of the product sales based on the product category, customer list and time in months and years using Business Intelligence programming and submitted to his client in an understandable manner. What are the main components of the business intelligence used by Mr. Saketh in this case?
a.Multidimensional analysis and reporting
b.Data mining and financial consolidation
c.Multidimensional analysis and key performance indicators.
d.Key performance indicators and reporting
e.Financial consolidation and budgeting
ANSWER : Multidimensional analysis and reporting
Ms. Anitha, a financial consultant, established five different simple linear models between Investments made by clients in Reliance shares and Profits obtained using regression analysis. The sum of the squares of errors obtained from these 5 models is respectively as 23.75, 50.15, 10.34, 20.78, 22.78. Which model does Anitha select among the five for doing future projections?
ANSWER : Model 5
The Dean of XYZ Academy wants to decide a mathematical relationship between yearly number of Academy students admitted in IITs and number of admissions into the Academy by drawing a diagram for doing regression analysis. What is the diagram needed by the Dean in this case?
ANSWER : Scatter diagram
Mr. Kim is a psychiatrist and is diagnosing a patient who is suffering from depression. The psychiatrist assumes three variables such as failures, low income and loneliness of the patient as the main influencing factors for his depression. The correlation structure of the data is tested against the hypothesized structure via goodness of fit tests by the psychiatrist. Which type of factor analysis is done by the psychiatrist in this case?
a.Exploratory factor analysis
d.Confirmatory factor analysis
e.Principle factor analysis
ANSWER: Confirmatory factor analysis
Ms. Vaidhehi is a business analyst. She took the data of sales of cars manufactured by Honda Company, Selling price, Road tax, and Petrol price for the last 12 months. She studied how the sales were impacted by all these variables using correlation. Which of the following correlation did she use in this case?
ANSWER : Multiple correlation
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