Practice Step 5: Evaluation and Interpretation - 18.3.5 | 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 does KPI stand for?

πŸ’‘ Hint: Think about what metrics are used to measure success.

Question 2

Easy

What is a common financial KPI?

πŸ’‘ Hint: This metric evaluates how profitable an investment is.

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 does ROI measure?

  • Customer Satisfaction
  • Profitability
  • Market Trends

πŸ’‘ Hint: Think about financial evaluations.

Question 2

True or False: Statistical significance testing helps ensure results are reliable.

  • True
  • False

πŸ’‘ Hint: Recall the impact of randomness on outcomes.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Design a KPI system for a startup aiming to enter a competitive market. What KPIs would you suggest?

πŸ’‘ Hint: Consider what metrics reflect financial health and customer behavior.

Question 2

Suppose a company sees a significant increase in sales after a campaign, but the testing showed no statistical significance. What should they conclude?

πŸ’‘ Hint: Think about the implications of acting on unreliable data.

Challenge and get performance evaluation