MIS341_FLast

Save your Word document with the following naming convention: Course_Midterm_First Initial Last Name (Example: MIS341_FLast.docx) ***Zip your Word document with your spreadsheet files and upload it to the proper link in Canvas**** 1. What are the main differences between probabilistic and deterministic models? 2. What is a probability distribution? Why do we care about this in business analytics? 3. Explain the concept of a transformation? Why do we use these? What are some common transformations that you might use? When would you use them? (Note: you may need to google some information in addition to the textbook). Give a practical example. 4. Describe the big differences between cost projections and break-even analysis. Identify some elements in from the textbook that help you know when to use one or the other. How are they set up the same or different in excel? 5. What are associations and correlations? How are they used in business analytics? What are some key tools associated with these ideas? 6. Page 131 from the textbook has an activity on cellular data churn. Run through the data file and provide a brief discussion on the churn analysis. What is the distribution of the variables? How are the columns related to each other? Do any insights stand out?