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A data analyst is analyzing the following dataset:
Transaction Date
Quantity
Item
Item Price
12/12/12
11
USB Cords
9.99
11/11/11
3
Charging Block
8.89
10/10/10
5
Headphones
50.15
Which of the following methods should the analyst use to determine the total cost for each transaction?
This question falls under the Data Analysis domain, focusing on calculating new values from existing data. The task is to determine the total cost per transaction, which involves multiplying Quantity by Item Price.
Parsing (Option A): Parsing involves breaking down data (e.g., splitting a string), not calculating totals.
Scaling (Option B): Scaling adjusts numerical values to a common range (e.g., normalization), not relevant for calculating totals.
Compressing (Option C): Compressing reduces data size, not applicable to calculating costs.
Deriving (Option D): Deriving involves creating new data fields by performing calculations on existing ones (e.g., Total Cost = Quantity Item Price), which fits the task.
The DA0-002 Data Analysis domain includes 'applying the appropriate descriptive statistical methods,' such as deriving new fields through calculations to analyze data.
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