Question 1

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?

Accepted Answer

A) interval level 
B) ordinal level 
C) nominal level 
D) ratio level 
E) relative level 
A) interval level 
B) ordinal level 
C) nominal level 
D) ratio level 
E) relative level

Question 2

Morningstar Mutual Funds analyzes the risk and performance of mutual funds.Each mutual fund is assigned an overall rating of one to five stars.One star is the lowest rating, and five stars is the highest rating.This level of measurement is ___.

Accepted Answer

A) ordinal level 
B) interval level 
C) nominal level 
D) ratio level 
E) relative level 
A) ordinal level 
B) interval level 
C) nominal level 
D) ratio level 
E) relative level

Question 3

Which of the following is not true regarding data mining?

Accepted Answer

A) most major industries utilize data mining 
B) data mining is performed to confirm a preconceived hypothesis 
C) data mining is often performed through a database management system 
D) data mining should be used in making future business decisions 
E) the first three steps of data mining is extract, transform and load 
A) most major industries utilize data mining 
B) data mining is performed to confirm a preconceived hypothesis 
C) data mining is often performed through a database management system 
D) data mining should be used in making future business decisions 
E) the first three steps of data mining is extract, transform and load

Question 4

A person has decided to code a particular set of sales data.A value of 0 is assigned if the sales occurred on a weekday, and a value of 1 means it happened on a weekend.This is an example of ___.

Accepted Answer

A) interval level data 
B) ordinal level data 
C) nominal level data 
D) ratio level data 
E) relative level data 
A) interval level data 
B) ordinal level data 
C) nominal level data 
D) ratio level data 
E) relative level data

Question 5

Big data refers to a standard set of variables collected from customers, suppliers, and staff.

Accepted Answer

A) True 
 B)False

Question 6

The term "garbage in, garbage out" refers to the volume of the data used by a business.

Accepted Answer

A) True 
 B)False

Question 7

With interval-level data, the zero point is a matter of convention and does not mean the absence of the phenomenon under observation.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Data visualization is most commonly used in which category of business analytics?

Accepted Answer

A) Descriptive 
B) Predictive 
C) Metric 
D) Prescriptive 
E) Mining 
A) Descriptive 
B) Predictive 
C) Metric 
D) Prescriptive 
E) Mining

Question 10

An international social media company stores approximately 300 billion images and 1.2 trillion posts.Given just this information, which of the vectors of big data is the most likely focus of this company's data collection?

Accepted Answer

A) Volume 
B) Velocity 
C) Variety 
D) Veracity 
E) Visualization 
A) Volume 
B) Velocity 
C) Variety 
D) Veracity 
E) Visualization

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?

Morningstar Mutual Funds analyzes the risk and performance of mutual funds.Each mutual fund is assigned an overall rating of one to five stars.One star is the lowest rating, and five stars is the highest rating.This level of measurement is ___.

Which of the following is not true regarding data mining?

A person has decided to code a particular set of sales data.A value of 0 is assigned if the sales occurred on a weekday, and a value of 1 means it happened on a weekend.This is an example of ___.

Big data refers to a standard set of variables collected from customers, suppliers, and staff.

The term "garbage in, garbage out" refers to the volume of the data used by a business.

With interval-level data, the zero point is a matter of convention and does not mean the absence of the phenomenon under observation.

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

Data visualization is most commonly used in which category of business analytics?

An international social media company stores approximately 300 billion images and 1.2 trillion posts.Given just this information, which of the vectors of big data is the most likely focus of this company's data collection?

Charts and Graphs

Descriptive Statistics

Probability

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Exam 1: Introduction to Statistics

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?

Morningstar Mutual Funds analyzes the risk and performance of mutual funds.Each mutual fund is assigned an overall rating of one to five stars.One star is the lowest rating, and five stars is the highest rating.This level of measurement is ___.

Which of the following is not true regarding data mining?

A person has decided to code a particular set of sales data.A value of 0 is assigned if the sales occurred on a weekday, and a value of 1 means it happened on a weekend.This is an example of ___.

Big data refers to a standard set of variables collected from customers, suppliers, and staff.

The term "garbage in, garbage out" refers to the volume of the data used by a business.

With interval-level data, the zero point is a matter of convention and does not mean the absence of the phenomenon under observation.

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

Data visualization is most commonly used in which category of business analytics?

An international social media company stores approximately 300 billion images and 1.2 trillion posts.Given just this information, which of the vectors of big data is the most likely focus of this company's data collection?

Charts and Graphs

Descriptive Statistics

Probability

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters