Question 1

Which of the following is an example of lag information?

Accepted Answer

A)  Measurement of faulty units in response to a recently implemented inventory method 
B)  Measurement of price sensitivity of customers in a given city 
C)  Measurement of rate of purchasing propensity following exposure to advertising 
D)  None of the answers is correct. 
A)  Measurement of faulty units in response to a recently implemented inventory method 
B)  Measurement of price sensitivity of customers in a given city 
C)  Measurement of rate of purchasing propensity following exposure to advertising 
D)  None of the answers is correct.

Question 2

An analyst is attempting to understand whether the frequency of faulty units coming out of production last month is different for Eastern location plants relative to all plants across the entire company. This analyst is engaging in what type of data analysis?

Accepted Answer

A)  Linear regression 
B)  Outlier detection 
C)  Cluster analysis 
D)  Association analysis 
A)  Linear regression 
B)  Outlier detection 
C)  Cluster analysis 
D)  Association analysis

Question 3

A plan of action designed by a business practitioner to achieve a business objective would be best described as:

Accepted Answer

A)  business analytics. 
B)  predictive analytics. 
C)  business strategy. 
D)  a database. 
A)  business analytics. 
B)  predictive analytics. 
C)  business strategy. 
D)  a database.

Question 4

Predicting how moving to a just-in-time production plan will affect employee productivity will require what sort of prediction?

Accepted Answer

A)  Passive prediction 
B)  Active prediction 
C)  KPI 
D)  Lag information 
A)  Passive prediction 
B)  Active prediction 
C)  KPI 
D)  Lag information

Question 5

Use the following dataset to answer the following question. $$\begin{array} { | l | c | c | c | c | } 
\hline { \text { Name } } & \text { Year } & \text { Salary } & \text { Tenure } & \text { MBA? } \
\hline \text { Drritry Haas } & 2017 & \$ 98,000 & 5 \text { years } & \text { Y } \
\hline \text { Jackie Bay } & 2017 & \$ 83,000 & 3 \text { years } & \mathrm { N } \
\hline \text { Renee Topkis } & 2017 & \$ 77,000 & 12 \text { years } & \mathrm { Y } \
\hline \text { Maria Val } & 2017 & \$ 79,000 & \text { 8years } & \mathrm { N } \
\hline
\end{array}$$
- What is the type of data set?

Accepted Answer

A)  Pooled cross-section 
B)  Panel 
C)  Unstructured 
D)  Cross-section 
A)  Pooled cross-section 
B)  Panel 
C)  Unstructured 
D)  Cross-section

Question 6

In examining the career earnings of individuals with different levels of college/graduate attainment, identifying Bill Gates as an atypical instance amongst the population with less than a bachelor's degree, would be an example of what sort of data analysis?

Accepted Answer

A)  Query 
B)  Pattern discovery 
C)  Data mining 
D)  Outlier detection 
A)  Query 
B)  Pattern discovery 
C)  Data mining 
D)  Outlier detection

Question 7

Suppose you collect a series of texts from statements made of a sample of potential customers as they watch an advertisement for your company's product. The collection of texts you've gathered from these statements is an example of what type of data?

Accepted Answer

A)  Structured data 
B)  Incomplete data 
C)  Unstructured data 
D)  Panel data 
A)  Structured data 
B)  Incomplete data 
C)  Unstructured data 
D)  Panel data

Question 8

Use the following dataset to answer the following question. $$\begin{array} { | l | c | c | c | c | } 
\hline  { \text { State } } & \text { Year } & \text { Sales Tux } & \text { Salesper Stare } & \begin{array} { c } 
\text { Ermplayees per } \
\text { Stare }
\end{array} \
\hline \text { Indiaraa } & 2014 & 7.25 & \$ 650,000 & 50 \
\hline \text { Illinois } & 2014 & 7.75 & \$ 625,000 & 65 \
\hline \text { Indiara } & 2015 & 8.00 & \$ 800,050 & 75 \
\hline \text { Illinois } & 2015 & 8.75 & \$ 525,000 & 55 \
\hline
\end{array}$$ 
-What type of dataset is this?

Accepted Answer

A)  Pooled cross-section 
B)  Panel 
C)  Time Series 
D)  State-year 
A)  Pooled cross-section 
B)  Panel 
C)  Time Series 
D)  State-year

Question 9

Presenting an assessment of variables of interest against a given benchmark for a company is an example of what data presentation format?

Accepted Answer

A)  Query 
B)  Scorecard 
C)  KPIs (key performance indicators) 
D)  Dashboard 
A)  Query 
B)  Scorecard 
C)  KPIs (key performance indicators) 
D)  Dashboard

Question 10

Use the following dataset to answer the following question. $$\begin{array} { | l | c | c | c | c | } 
\hline  { \text { State } } & \text { Year } & \text { Salary } & \text { Lacation } & \text { Sales Warkshap? } \
\hline \text { Aiden Roser1 } & 2017 & \$ 98,000 & \text { Seattle } & \text { Y } \
\hline \text { Sadie Hubbard } & 2017 & \$ 83,000 & \text { Chicago } & \mathrm { N } \
\hline \text { Jen Jordar1 } & 2018 & \$ 77,000 & \text { Seattle } & \mathrm { N } \
\hline \text { Rob Jacksor1 } & 2018 & \$ 79,000 & \text { Chicago } & \mathrm { N } \
\hline
\end{array}$$
- What is the unit of observation?

Accepted Answer

A)  Person-salary 
B)  Person-year 
C)  Person-year-location 
D)  Salary 
A)  Person-salary 
B)  Person-year 
C)  Person-year-location 
D)  Salary

Question 11

Which of the following statements best summarizes the use of business analytics?

Accepted Answer

A)  The use of data analysis to aid in business decision making. 
B)  Using of cluster analysis to create customer categories. 
C)  Forecasting stock prices. 
D)  Using "big data" methods to predict sales. 
A)  The use of data analysis to aid in business decision making. 
B)  Using of cluster analysis to create customer categories. 
C)  Forecasting stock prices. 
D)  Using "big data" methods to predict sales.

Question 12

An appealing alternative to using "rules of thumb" and "gut feelings" in formulating business strategies includes:

Accepted Answer

A)  not deviating from the firm's previously established practices. 
B)  being an early adopter of business strategies of industry leaders. 
C)  business strategies justified from evidence-based business analytics. 
D)  None of these choices are correct. 
A)  not deviating from the firm's previously established practices. 
B)  being an early adopter of business strategies of industry leaders. 
C)  business strategies justified from evidence-based business analytics. 
D)  None of these choices are correct.

Question 13

Gauging customer discontent for an airline by looking for patterns between unfavorable mentions on Twitter (a potentially large dataset) and on-time traffic departures would likely be an example of what type of data analysis?

Accepted Answer

A)  Linear regression 
B)  Data mining 
C)  Outlier detection 
D)  Scorecard 
A)  Linear regression 
B)  Data mining 
C)  Outlier detection 
D)  Scorecard

Question 14

Use the following presentation to answer the following question. $$\begin{array} { | c | c | c | c | c | } 
\hline \text { State } & \text { Year } & \text { Salesper Stare } & \text { Target } & \text { Perfarmance } \
\hline \text { Western } & 2016 & \$ 750,000 & \$ 700,000 & \text { Good } \
\hline \text { Eastern } & 2016 & \$ 645,000 & \$ 680,000 & \text { Nearing Acceptable } \
\hline \text { Western } & 2017 & \$ 770,050 & \$ 745,000 & \text { Good } \
\hline \text { Eastern } & 2017 & \$ 925,000 & \$ 825,000 & \text { Good } \
\hline
\end{array}$$ This presentation is an example of what?

Accepted Answer

A)  Cluster analysis 
B)  Association analysis 
C)  Pivot table 
D)  Scorecard 
A)  Cluster analysis 
B)  Association analysis 
C)  Pivot table 
D)  Scorecard

Question 15

In grouping customers into separate types according to their spending, internet browsing, payment method, and age a firm is engaging in what sort of analysis?

Accepted Answer

A)  Data mining 
B)  Cluster analysis 
C)  Outlier detection 
D)  Linear regression 
A)  Data mining 
B)  Cluster analysis 
C)  Outlier detection 
D)  Linear regression

Question 16

Suppose you collect a series of texts from CEOs' public speaking engagements and wish to perform analysis on them. The collection of texts you've gathered is an example of what type of data?

Accepted Answer

A)  Unstructured data 
B)  Incomplete data 
C)  Structured data 
D)  Censored data 
A)  Unstructured data 
B)  Incomplete data 
C)  Structured data 
D)  Censored data

Question 17

In examining the career earnings of different undergraduate majors, identifying Michael Jordan as an atypical instance amongst Geography majors would be an example of what sort of data analysis?

Accepted Answer

A)  Dashboard 
B)  Pattern discovery 
C)  Outlier detection 
D)  Data mining 
A)  Dashboard 
B)  Pattern discovery 
C)  Outlier detection 
D)  Data mining

Question 18

Measures of the spread of variables such as the variance and range are examples of:

Accepted Answer

A)  descriptive statistics. 
B)  data mining. 
C)  covariance. 
D)  causal relationships. 
A)  descriptive statistics. 
B)  data mining. 
C)  covariance. 
D)  causal relationships.

Question 19

The critical distinction between the effectiveness of engaging in active prediction versus passive prediction is that one or more of the variables of interest undergoes a(n):

Accepted Answer

A)  lead information. 
B)  trend. 
C)  outlier detection. 
D)  exogenous change. 
A)  lead information. 
B)  trend. 
C)  outlier detection. 
D)  exogenous change.

Question 20

Which of the following would not be an example of summary statistic of a variable within dataset?

Accepted Answer

A)  Mean 
B)  Variance 
C)  Interquartile range 
D)  None of the above. 
A)  Mean 
B)  Variance 
C)  Interquartile range 
D)  None of the above.

Which of the following is an example of lag information?

An analyst is attempting to understand whether the frequency of faulty units coming out of production last month is different for Eastern location plants relative to all plants across the entire company. This analyst is engaging in what type of data analysis?

A plan of action designed by a business practitioner to achieve a business objective would be best described as:

Predicting how moving to a just-in-time production plan will affect employee productivity will require what sort of prediction?

Use the following dataset to answer the following question. Name Year Salary Tenure MBA? Drritry Haas 2017 \ 98,000 5 years Y Jackie Bay 2017 \ 83,000 3 years Renee Topkis 2017 \ 77,000 12 years Maria Val 2017 \ 79,000 8years - What is the type of data set?

In examining the career earnings of individuals with different levels of college/graduate attainment, identifying Bill Gates as an atypical instance amongst the population with less than a bachelor's degree, would be an example of what sort of data analysis?

Suppose you collect a series of texts from statements made of a sample of potential customers as they watch an advertisement for your company's product. The collection of texts you've gathered from these statements is an example of what type of data?

Use the following dataset to answer the following question. State Year Sales Tux Salesper Stare Ermplayees per Stare Indiaraa 2014 7.25 \ 650,000 50 Illinois 2014 7.75 \ 625,000 65 Indiara 2015 8.00 \ 800,050 75 Illinois 2015 8.75 \ 525,000 55 -What type of dataset is this?

Presenting an assessment of variables of interest against a given benchmark for a company is an example of what data presentation format?

Use the following dataset to answer the following question. State Year Salary Lacation Sales Warkshap? Aiden Roser1 2017 \ 98,000 Seattle Y Sadie Hubbard 2017 \ 83,000 Chicago Jen Jordar1 2018 \ 77,000 Seattle Rob Jacksor1 2018 \ 79,000 Chicago - What is the unit of observation?

Which of the following statements best summarizes the use of business analytics?

An appealing alternative to using "rules of thumb" and "gut feelings" in formulating business strategies includes:

Gauging customer discontent for an airline by looking for patterns between unfavorable mentions on Twitter (a potentially large dataset) and on-time traffic departures would likely be an example of what type of data analysis?

In grouping customers into separate types according to their spending, internet browsing, payment method, and age a firm is engaging in what sort of analysis?

Suppose you collect a series of texts from CEOs' public speaking engagements and wish to perform analysis on them. The collection of texts you've gathered is an example of what type of data?

In examining the career earnings of different undergraduate majors, identifying Michael Jordan as an atypical instance amongst Geography majors would be an example of what sort of data analysis?

Measures of the spread of variables such as the variance and range are examples of:

The critical distinction between the effectiveness of engaging in active prediction versus passive prediction is that one or more of the variables of interest undergoes a(n):

Which of the following would not be an example of summary statistic of a variable within dataset?

Reasoning With Data

Reasoning From Sample to Population

The Scientific Method: The Gold Standard for Establishing Causality

Linear Regression As a Fundamental Descriptive Tool

Correlation Vs Causality in Regression Analysis

Basic Methods for Establishing Causal Inference

Advanced Methods for Establishing Causal Inference

Prediction for a Dichotomous Variable

Identification and Data Assessment

Filters

Exam 1: The Roles of Data and Predictive Analytics in Business

Which of the following is an example of lag information?

An analyst is attempting to understand whether the frequency of faulty units coming out of production last month is different for Eastern location plants relative to all plants across the entire company. This analyst is engaging in what type of data analysis?

A plan of action designed by a business practitioner to achieve a business objective would be best described as:

Predicting how moving to a just-in-time production plan will affect employee productivity will require what sort of prediction?

Use the following dataset to answer the following question. Name Year Salary Tenure MBA? Drritry Haas 2017 \ 98,000 5 years Y Jackie Bay 2017 \ 83,000 3 years Renee Topkis 2017 \ 77,000 12 years Maria Val 2017 \ 79,000 8years - What is the type of data set?

In examining the career earnings of individuals with different levels of college/graduate attainment, identifying Bill Gates as an atypical instance amongst the population with less than a bachelor's degree, would be an example of what sort of data analysis?

Suppose you collect a series of texts from statements made of a sample of potential customers as they watch an advertisement for your company's product. The collection of texts you've gathered from these statements is an example of what type of data?

Use the following dataset to answer the following question. State Year Sales Tux Salesper Stare Ermplayees per Stare Indiaraa 2014 7.25 \ 650,000 50 Illinois 2014 7.75 \ 625,000 65 Indiara 2015 8.00 \ 800,050 75 Illinois 2015 8.75 \ 525,000 55 -What type of dataset is this?

Presenting an assessment of variables of interest against a given benchmark for a company is an example of what data presentation format?

Use the following dataset to answer the following question. State Year Salary Lacation Sales Warkshap? Aiden Roser1 2017 \ 98,000 Seattle Y Sadie Hubbard 2017 \ 83,000 Chicago Jen Jordar1 2018 \ 77,000 Seattle Rob Jacksor1 2018 \ 79,000 Chicago - What is the unit of observation?

Which of the following statements best summarizes the use of business analytics?

An appealing alternative to using "rules of thumb" and "gut feelings" in formulating business strategies includes:

Gauging customer discontent for an airline by looking for patterns between unfavorable mentions on Twitter (a potentially large dataset) and on-time traffic departures would likely be an example of what type of data analysis?

In grouping customers into separate types according to their spending, internet browsing, payment method, and age a firm is engaging in what sort of analysis?

Suppose you collect a series of texts from CEOs' public speaking engagements and wish to perform analysis on them. The collection of texts you've gathered is an example of what type of data?

In examining the career earnings of different undergraduate majors, identifying Michael Jordan as an atypical instance amongst Geography majors would be an example of what sort of data analysis?

Measures of the spread of variables such as the variance and range are examples of:

The critical distinction between the effectiveness of engaging in active prediction versus passive prediction is that one or more of the variables of interest undergoes a(n):

Which of the following would not be an example of summary statistic of a variable within dataset?

Reasoning With Data

Reasoning From Sample to Population

The Scientific Method: The Gold Standard for Establishing Causality

Linear Regression As a Fundamental Descriptive Tool

Correlation Vs Causality in Regression Analysis

Basic Methods for Establishing Causal Inference

Advanced Methods for Establishing Causal Inference

Prediction for a Dichotomous Variable

Identification and Data Assessment

Filters