Practice Case Study 3: Credit Card Fraud Detection - 18.5.3 | 18. Data Science for Business and Decision- Making | Data Science Advance
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the primary purpose of anomaly detection in credit card fraud?

💡 Hint: Think about abnormal behavior.

Question 2

Easy

Name one technique used for anomaly detection.

💡 Hint: Consider the classification tools discussed.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What term refers to errors indicating fraud when none exists?

  • True Positives
  • False Positives
  • True Negatives

💡 Hint: Remember the term related to incorrect fraud indications.

Question 2

Autoencoders are used for what purpose in fraud detection?

  • Network Security
  • Transaction Reconstruction
  • Data Storage

💡 Hint: Focus on the reconstruction aspect.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Design a simple anomaly detection model using autoencoders and describe the step-by-step process.

💡 Hint: Focus on each step and ensure you understand the purpose of each phase.

Question 2

Critique the advantages and disadvantages of using machine learning models vs. traditional methods in fraud detection.

💡 Hint: Analyze both sides critically.

Challenge and get performance evaluation