What is the primary purpose of the discovery phase in the data science process? To develop interactive visualizations for stakeholder presentations To evaluate and optimize data-driven predictive models To clean and preprocess the data for analysis To understand the business problem and develop initial hypotheses {Ans: To understand the business problem and develop initial hypotheses}A company will survey its customers to understand the potential demand for a new product. A data analyst will review the data. Which question should the analysis consider to validate the representativity of the data? - What tool is being used to visualize the data? - What tool will be used to prepare the data? - What tool will be used to analyze the data? - What is the response rate for the survey? {Ans: What is the response rate for the survey?}Which testing procedure is used for evaluating the performance of a model in the data analytics life cycle? - Descriptive analysis - Feature selection - Cross-validation - Data preprocessing {Ans: Cross-validation}Time series analysis {Ans: A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend, cycle, seasonal, and random factor