Avoiding Misconceptions in Research: Selection Bias
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Questions and Answers

What is survivorship bias prone to lead researchers to form?

  • Correct conclusions
  • Incorrect conclusions (correct)
  • No conclusions
  • Biased conclusions
  • What is an example of survivorship bias in the real estate industry?

  • Studying successful real estate investors
  • Ignoring customer testimonials
  • Studying both successful and failed investors
  • Only featuring testimonials from happy customers (correct)
  • What is a common misconception about Mark Zuckerberg, Steve Jobs, and Bill Gates?

  • They all went to the same college
  • They all graduated from college
  • They all pursued different careers
  • They all dropped out of college and became billionaires (correct)
  • What is the main concern in the scenario of Wade and Lily?

    <p>That Wade may experience survivorship bias</p> Signup and view all the answers

    What might be the perception of Wade regarding Ivy League school acceptance?

    <p>That it's relatively easy to get in</p> Signup and view all the answers

    What might be the perception of Lily regarding Ivy League school acceptance?

    <p>That it's relatively difficult to get in</p> Signup and view all the answers

    What might be a possible misconception about the stock market based on Brienna's observation?

    <p>That the stocks will always increase in value</p> Signup and view all the answers

    What is the main goal of the exercise in the scenario?

    <p>To explore the concept of survivorship bias</p> Signup and view all the answers

    What kind of algorithms do common conversation bots like Siri and Alexa utilize?

    <p>Complex NLP algorithms</p> Signup and view all the answers

    What is a characteristic of Deep Learning algorithms?

    <p>They use complex 'black box' neural networks</p> Signup and view all the answers

    What is an example of an application of Deep Learning?

    <p>Face verification algorithm on Facebook</p> Signup and view all the answers

    What does DGP stand for in the context of data analysis?

    <p>Data Generating Process</p> Signup and view all the answers

    Why is it important to understand how data was collected and stored?

    <p>To ensure accurate analysis and interpretation of the data</p> Signup and view all the answers

    What is essential to check when examining a dataset?

    <p>What each row and column represents, and missing values</p> Signup and view all the answers

    What is a key consideration when designing a survey?

    <p>The selection probabilities</p> Signup and view all the answers

    What should you examine before analyzing a survey's data?

    <p>The data protocols of the survey</p> Signup and view all the answers

    What is the main issue with the woman's logic in buying stock from any company?

    <p>She is not considering the company's financial health</p> Signup and view all the answers

    What is the problem with the scientists' approach to developing a cure for the virus?

    <p>They only examined patients who have already recovered</p> Signup and view all the answers

    Why is Morgan hesitant to invest in Dodge Coin?

    <p>She is worried about the lack of negative reviews</p> Signup and view all the answers

    What is the primary driver of the rise of AI?

    <p>The availability of billions of information points</p> Signup and view all the answers

    What is data analytics?

    <p>The process of analyzing raw data to find trends and answer questions</p> Signup and view all the answers

    What is the main application of data analytics in the real world?

    <p>All of the above</p> Signup and view all the answers

    What does the rise of AI depend on?

    <p>The availability of billions of information points and rising computational power</p> Signup and view all the answers

    What is the goal of data analytics?

    <p>To find trends and answer questions</p> Signup and view all the answers

    What is the primary goal of descriptive analytics?

    <p>To summarize data and describe historical trends</p> Signup and view all the answers

    What is the primary advantage of advanced analytics?

    <p>It allows for the extraction of data using machine learning and deep learning</p> Signup and view all the answers

    What is one of the use cases of data analytics in healthcare?

    <p>Chatbots for medical scheduling and Xray computer vision</p> Signup and view all the answers

    What is the primary function of recommender systems in e-commerce?

    <p>To show targeted and useful product recommendations to customers</p> Signup and view all the answers

    How does Netflix use data analytics?

    <p>To recommend movies and videos based on past viewership data</p> Signup and view all the answers

    What is the primary application of AI-enabled use cases in transportation?

    <p>Fully self-driving cars that take decisions like humans</p> Signup and view all the answers

    What is a potential consequence of poor data quality?

    <p>Wasted resources and incorrect insights</p> Signup and view all the answers

    What is a major concern for customers in terms of data usage?

    <p>Access to their data by unauthorized parties</p> Signup and view all the answers

    What is the primary requirement for enabling AI-enabled use cases in transportation?

    <p>Highly advanced compute vision algorithms</p> Signup and view all the answers

    What makes it difficult to extract meaningful insights from business data?

    <p>The sheer volume of data generated</p> Signup and view all the answers

    What is the primary benefit of data analytics in various industries?

    <p>It provides a competitive edge to companies</p> Signup and view all the answers

    What is a challenge of combining data from multiple sources?

    <p>Siloed data sources</p> Signup and view all the answers

    What is a stage in the lifecycle of data where security is crucial?

    <p>All of the above</p> Signup and view all the answers

    What can overwhelmed businesses due to the large amount of data generated?

    <p>Data generation</p> Signup and view all the answers

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