Exam 1: Introduction to Statistics and Business Analytics

If an analyst needed to explain the primary differences between data velocity and veracity, they would most likely say that velocity was related to ___________ while veracity was related to __________.

The Universal Pulp Company has a plant in Portland, Oregon.Management wants to determine the average number of sick days taken per worker in this plant in 2018.To do this, management gathers records on all the workers in the plant and averages the number of sick days taken in 2018 by each worker.This process is using _______.

If a manager relies on his/her gut instinct to make critical business decisions, this is an example of business analytics in action.

In order to help decision makers, business analytics uses a variety of techniques in order to ___________ big data.

The last three steps of data mining are:

If an analyst needed to explain the primary differences between data variety and volume, they would most likely say that variety was related to ___________ while volume was related to __________.

What type of analytics include classifying techniques, such as decision tree models and neural networks?

Future Video, a gaming company, is awaiting a marketing survey that will tell them how well and in what markets their latest game console is selling.The VP of Marketing has to develop contingency plans for the investors based upon this information.What type of analytics would the VP most likely be using?

Which is considered the simplest and most commonly used of the categories of business analytics?

The social security number of employees would be an example of what level of data measurement?

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of industrial customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.For this study, the set of 1,500 industrial customers is ______________.

What new field of business was established to help business decision makers meet the challenges, opportunities and potentialities presented by big data?

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.One question on the survey asked the customers: "Which of the following best describes your primary business: a.manufacturing, b.wholesaler, c.retail, d.service." The measurement level for these possible responses is _________________.

Data are typically ________ by removing corrupt or incorrect records and identifying incomplete, incorrect, or irrelevant parts of data.

Which if the following best defines predictive modeling?

Measurements occur when a standard process is used to assign numbers to attributes or characteristics of a variable.

Which of the following would be the least helpful type of data to a car manufacturer when making business decisions?

Nominal and ordinal data are sometimes referred to as qualitative data.

Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.

When a person collects information from the entire population, this is called a _______.