Podcast
Questions and Answers
Factor analysis simplifies complex datasets by increasing the dimensionality of data.
Factor analysis simplifies complex datasets by increasing the dimensionality of data.
False (B)
Time Series Analysis is essential for understanding temporal patterns but not for forecasting.
Time Series Analysis is essential for understanding temporal patterns but not for forecasting.
False (B)
Text Analysis involves extracting insights from numerical data, such as financial reports.
Text Analysis involves extracting insights from numerical data, such as financial reports.
False (B)
Monte Carlo Method uses deterministic sampling to solve complex problems.
Monte Carlo Method uses deterministic sampling to solve complex problems.
Factor analysis can only be applied in psychology, not in the social sciences.
Factor analysis can only be applied in psychology, not in the social sciences.
Regression analysis is mainly used in social sciences and humanities.
Regression analysis is mainly used in social sciences and humanities.
Statistical analysis only involves descriptive statistics like mean and median.
Statistical analysis only involves descriptive statistics like mean and median.
Cohort analysis helps businesses understand the behavior of individual customers.
Cohort analysis helps businesses understand the behavior of individual customers.
Content analysis is used to analyze themes and patterns within textual data only.
Content analysis is used to analyze themes and patterns within textual data only.
Factor analysis is a technique for revealing latent factors that explain the variance in observed variables.
Factor analysis is a technique for revealing latent factors that explain the variance in observed variables.
