Homework Help: Questions and Answers: To execute a successful Data Science project a project need(s) to have: (Select all that apply.)
a) a clear, verifiable and quantifiable goal
b) realistic expectations for all stakeholders
c) an unbiased data set covering all examples
d) the right model based on the business scenario
Answer
To execute a successful Data Science project, several key elements are necessary. Let’s analyze each of the given options to see which apply:
a) A clear, verifiable, and quantifiable goal:
- This is essential. A project needs a clear objective to guide the data analysis and modeling process. The goal should be specific, measurable, achievable, relevant, and time-bound (SMART) to ensure success.
b) Realistic expectations for all stakeholders:
- This is also important. Stakeholders need to have a clear understanding of what the project can achieve, and the limitations involved. Unrealistic expectations can lead to dissatisfaction or project failure.
c) An unbiased data set covering all examples:
- While having an unbiased dataset is ideal, but it is not always possible to have data covering all possible examples. However, the dataset should be as unbiased as possible to ensure the model can generalize well. Thus, this is important for the integrity and fairness of the project.
d) The right model based on the business scenario:
- Choosing the appropriate model is crucial. The model should be aligned with the business objectives and the nature of the data. This ensures that the insights and predictions are relevant and actionable.
Final Answer
Based on the above analysis, the correct answer (options) is:
a) a clear, verifiable, and quantifiable goal
b) realistic expectations for all stakeholders
d) the right model based on the business scenario
Option c (An unbiased data set covering all examples), while desirable, but is not always feasible or necessary.
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