What Focuses on Forecasting Future Trends and Producing Insights Using

question 7

Multiple Choice

What focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization?

• A)Big data
• B)Distributed computing
• C)Advanced analytics
• D)Data scientist

---

Definitions:

Critical Value

A threshold value in hypothesis testing, beyond which the null hypothesis is rejected, determined by the chosen significance level.

Df

Df, or degrees of freedom, often used in statistical analysis, is the number of independent pieces of information available to estimate another piece of information.

Mean Square

A statistical measure used primarily in the context of ANOVA, representing the average of the squares of differences from the mean, indicative of variance.

Main Effect

The direct impact of an independent variable on a dependent variable in an experimental study, ignoring the effects of other independent variables.