Practice Step 5: Evaluation and Interpretation - 18.3.5 | 18. Data Science for Business and Decision- Making | Data Science Advance
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Step 5: Evaluation and Interpretation

18.3.5 - Step 5: Evaluation and Interpretation

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Learning

Practice Questions

Test your understanding with targeted questions

Question 1 Easy

What does KPI stand for?

💡 Hint: Think about what metrics are used to measure success.

Question 2 Easy

What is a common financial KPI?

💡 Hint: This metric evaluates how profitable an investment is.

4 more questions available

Interactive Quizzes

Quick quizzes to reinforce your learning

Question 1

What does ROI measure?

Customer Satisfaction
Profitability
Market Trends

💡 Hint: Think about financial evaluations.

Question 2

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

True
False

💡 Hint: Recall the impact of randomness on outcomes.

1 more question available

Challenge Problems

Push your limits with advanced challenges

Challenge 1 Hard

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

💡 Hint: Consider what metrics reflect financial health and customer behavior.

Challenge 2 Hard

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

💡 Hint: Think about the implications of acting on unreliable data.

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Reference links

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