1. Which of the following statements is false?

A. XBRL is used to facilitate the exchange of financial reporting information between the company and the Securities and Exchange Commission.

B. Fuzzy matching is a computer-assisted technique of finding matches that are less than 100 percent perfect by finding corresondences between portions of the text of each potential match.

C. Existing data that have been manually evaluated and assigned a class is often referred to as test data.

D. An example of classification would be a credit card company flagging a transaction as being approved or potentially being fraudulent and denying payment.

2. While overfitting data could lead to an error rate of 0 (zero), it is unlikely that you would be able to ________ your results.

A. generalize

B. specify

C. define

D. articulate

3. Which of the following best describes a supervised approach to the evaluation of data?

A. Data exploration that is free from oversight by a superior

B. Data exploration that is conducted with direct oversight by a superior

C. Data exploration to examine the relationships between variables that are hypothesized to exist

D. Data exploration looking for potential patterns of interest

4. Understanding and predicting inventory obsolescence is an important determination for retail companies. When using competitor selling prices to estimate the inventory obsolescence reserve, the inventory obsolescence reserve represents which of the following:

A. Dependent variable

B. Statistical Model

C. Function

D. Independent variable

5. The term ________ refer to existing data that have been manually evaluated and assigned a class while the term ________ refer to existing data used to evaluate the model.

A. Test data; Training data

B. Unstructured data; Structured data

C. Structured data; Unstructured data

D. Training data; Test data

6. The following chart types are preferred for depicting qualitative data except:

A. Stacked bar chart

B. Pie chart

C. Line chart

D. Bar chart