Practice Step 5: Evaluation And Interpretation (18.3.5) - Data Science for Business and Decision- Making

Practice: Step 5: Evaluation and Interpretation

Lesson 18.3.5Data Science for Business and Decision- Making

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9 questions

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3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What does KPI stand for?
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Think about what metrics are used to measure success.
Question 2.
What is a common financial KPI?
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This metric evaluates how profitable an investment is.
3Question 3.
What does ROI measure?
- Customer Satisfaction
- Profitability
- Market Trends
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Think about financial evaluations.
4Question 4.
True or False: Statistical significance testing helps ensure results are reliable.
- True
- False
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Recall the impact of randomness on outcomes.
Question 5.
Design a KPI system for a startup aiming to enter a competitive market. What KPIs would you suggest?
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Consider what metrics reflect financial health and customer behavior.
Question 6.
Suppose a company sees a significant increase in sales after a campaign, but the testing showed no statistical significance. What should they conclude?
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Think about the implications of acting on unreliable data.

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