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 (D)</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 (B)</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 (D)</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 (A)</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 (B)</p> Signup and view all the answers

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

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

What is a characteristic of Deep Learning algorithms?

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

What is an example of an application of Deep Learning?

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

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

<p>Data Generating Process (C)</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 (D)</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 (D)</p> Signup and view all the answers

What is a key consideration when designing a survey?

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

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

<p>The data protocols of the survey (C)</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 (A)</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 (C)</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 (B)</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 (C)</p> Signup and view all the answers

What is data analytics?

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

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

<p>All of the above (D)</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 (A)</p> Signup and view all the answers

What is the goal of data analytics?

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

What is the primary goal of descriptive analytics?

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

How does Netflix use data analytics?

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

What is a potential consequence of poor data quality?

<p>Wasted resources and incorrect insights (B)</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 (D)</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 (B)</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 (A)</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 (C)</p> Signup and view all the answers

What is a challenge of combining data from multiple sources?

<p>Siloed data sources (A)</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 (D)</p> Signup and view all the answers

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

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

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