1)

A farmer is going to plant some carrots in his open plot. He has a 30% chance to have a good yield, 50% chance for an average yield, and a 20% chance for a bad yield. The payoffs for a good, average, and bad yield are $6,000, $4,000, and $2,000 respectively. What is the expected value?

Group of answer choices

$4,200

$4,600

$4,000

$6,000

2)

Determine if the following is a OLAP, Classification, or Regression Model.

Dollar General sends out a $5 off coupon to its email subscribers. What percentage of customers between 20 and 30 years of age who lived within 5 miles of the store used the coupon?

Group of answer choices

Classification Model

Regression Model

OLAP

3)

Determine if the following is a supervised or unsupervised model.

A local restaurant sends a 20% off coupon to its email subscribers. Using information known about the customers, create different groups of individuals that represent different spending habits.

Group of answer choices

Unsupervised

Supervised Regression

Supervised Classification

4)

In terms of Big Data and Data Mining, what is the correct definition of variety?

Group of answer choices

Variety refers to the different types of data. Big Data tends to have many different types of data.

Variety refers to the accuracy data. Big data sets may have inaccuracies and lapses in data quality.

Variety is the speed at which data enters an environment. Big data tends to have high variety data that must be analyzed quickly.

Variety is the amount of data in a data set. Big Data tends to have large amounts of data.