TB MC Qu. 08-43 Which of the following is...

Which of the following is a predictive analytics technique used to estimate a specific dependent variable outcome based on independent variable inputs?

Question

TB MC Qu. 08-43 Which of the following is...

Which of the following is a predictive analytics technique used to estimate a specific dependent variable outcome based on independent variable inputs?

BlackTom AI · Accepted Answer

When evaluating predictive analytics techniques that estimate a specific dependent variable outcome from independent variable inputs, several candidates come to mind, each with its own purpose and scope.
Option 1: Regression. This method is specifically designed to model the relationship between one or more independent variables (inputs) and a continuous dependent variable (the outcome). It provides an equation that can be used to predict the exact value of the dependent variable for new inputs, capturing the strength and direction of associations.
Option 2: Variance analysis. This is primarily a budgeting or cost-management technique used to compare actual versus planned performance and to understand variances. It does not inherently produce predictive estimates of a dependent variable from multiple inputs.
Option 3: Time series. Time series analysis is focused on data indexed in time, emphasizing patterns like trends, seasonality, and autocorrelation over time. While it can forecast future values, it often relies on temporal structure rather than directly using multiple independent variables to predict a single outcome, making it less aligned with the described setup.
Option 4: Classification. Classification is used to assign observations to predefined categories (a categorical dependent variable). It predicts the category rather than a numeric value, which differs from the requirement of estimating a specific dependent variable outcome.
In summary, regression is the standard predictive analytics technique for estimating a numeric outcome from input variables, whereas the other options serve different analytical purposes and are not primarily designed for predicting a continuous dependent variable from inputs.

TB MC Qu. 08-43 Which of the following is... Which of the following is a predictive analytics technique used to estimate a specific dependent variable outcome based on independent variable inputs?

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