Business Statistics Quiz
How is AI transforming predictive analytics in business statistics?
By reducing data accuracy
By automating data collection only
By improving real-time forecasting with advanced algorithms
By eliminating the need for human analysts
What is a key challenge of using big data in business statistics?
Too few data sources
Data privacy and ethical concerns
Limited computational power
Decreasing demand for analytics
Why are Bayesian methods gaining popularity in business decision-making?
They ignore prior data
They provide static results
They update probabilities dynamically with new data
They are simpler than traditional statistics
What does "Explainable AI" aim to solve in business analytics?
Making AI models more transparent/interpretable
Speeding up data processing
Reducing data storage costs
Replacing human judgment entirely
Which technique helps anonymize data in business statistics?
Data falsification
Differential privacy
Data aggregation only
Ignoring privacy laws
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