Question 1

A descriptive measure of the sample is called a statistic.

Accepted Answer

A) True 
 B)False

Question 2

Numbers which are used only to classify or categorize the observations represent data measured at the nominal level.

Accepted Answer

A) True 
 B)False

Question 3

The categories of business analytics are most commonly done in which order?

Accepted Answer

A) Predictive, prescriptive, then descriptive 
B) Descriptive, prescriptive, then predictive 
C) Prescriptive, descriptive, then predictive 
D) Descriptive, predictive, then prescriptive 
E) Predictive, descriptive, then prescriptive

Question 4

In a speech, the COO commented on the changes that had taken place in the industry, specifically the amount of information decision makers have available.This is primarily referring to an area called:

Accepted Answer

A) descriptive analytics 
B) application processing 
C) data mining 
D) big data 
E) data visualization

Question 5

Big data should encompass all four characteristics of variety, velocity, virtuous, and volume.

Accepted Answer

A) True 
 B)False

Question 6

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 selecting a focus group of 40 industrial customers.For this study, the set of 40 industrial customers is ________.

Accepted Answer

A) a parameter 
B) a sample 
C) the population 
D) a statistic 
E) the frame

Question 7

You are the owner of a camping site and want to estimate the average age of your customers.For this purpose, you select a representative sample of your clients and offer them a discount on their next visit as compensation for filling out a short questionnaire that includes relevant age intervals.The average age of the customers who fill out the questionnaire is:

Accepted Answer

A) a measurement 
B) data 
C) a statistic 
D) a parameter 
E) a census

Question 8

A manager was asked to rate the performance of his employees on a scale of 1 to 6.A 1 means that the performance is awful while a 6 means that it is excellent.The measurement level of this data is _______.

Accepted Answer

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

Question 9

Most traditional introductory statistics courses focus instruction in the area of ___________.

Accepted Answer

A) network functioning 
B) device mobility 
C) descriptive analytics 
D) discrete visualization 
E) visualized forecasting

Question 10

If it were not for the existence of an "absolute zero," ratio data would be considered the same as _______.

Accepted Answer

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

Question 11

The highest level of data measurement is the ratio level.

Accepted Answer

A) True 
 B)False

Question 12

You are the owner of a camping site and want to evaluate the feasibility of opening earlier during the year.For this analysis, you obtain the average maximum and minimum local daily temperatures for early spring.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

Question 13

Big data can include unstructured data such as writings and photographs.

Accepted Answer

A) True 
 B)False

Question 14

Statistics are used to market vitamins.

Accepted Answer

A) True 
 B)False

Question 15

A business is attempting to find the best small town in the United States in which to relocate.As part of the investigation, the elevations of all small towns in the United States are researched.Some towns are located high in the Rockies with elevations over 8,000 feet.There are even some towns located in the south central valley of California with elevations below sea level.These elevations can best be described as which level of data?

Accepted Answer

A) Interval level 
B) Ordinal level 
C) Nominal level 
D) Ratio level 
E) Relative level

Question 16

Extracting and transforming data are two steps in data visualization.

Accepted Answer

A) True 
 B)False

Question 17

Online retailers are consistently pursuing new ways to improve market share and establish better relations with customers.One of the most common methods is to provide recommendations when customers place an order based upon similar or complementary items.These most likely patterns in purchases would most be an example of what type of analytics:

Accepted Answer

A) predictive 
B) data mining 
C) financial 
D) descriptive 
E) time sensitive

Question 18

Data mining utilizes the ETL process.ETL stands for ___________.

Accepted Answer

A) Elapsed, triangular, and logarithmic 
B) Extracting, tableau, and logarithms 
C) Excel, traditional, and linear 
D) Exploring, trends, and location plotting 
E) Extract, transform, and load

Question 19

A software package defined as a category of computer graphics products used to create graphical displays and interfaces for software applications would be used in ______________.

Accepted Answer

A) data monitoring 
B) measuring the veracity of data 
C) data visualization 
D) data mining 
E) prescriptive analytics

Question 20

If data indicated that a new product could serve as a cheaper substitute for a company's product, the CEO of the latter company might __________:

Accepted Answer

A) increase prices 
B) decrease costs 
C) look for a new, unique use of his/her product 
D) try to put the competitor out of business 
E) close several production plans

Exam 1: Introduction to Statistics and Business Analytics

A descriptive measure of the sample is called a statistic.

Numbers which are used only to classify or categorize the observations represent data measured at the nominal level.

The categories of business analytics are most commonly done in which order?

In a speech, the COO commented on the changes that had taken place in the industry, specifically the amount of information decision makers have available.This is primarily referring to an area called:

Big data should encompass all four characteristics of variety, velocity, virtuous, and volume.

A manager was asked to rate the performance of his employees on a scale of 1 to 6.A 1 means that the performance is awful while a 6 means that it is excellent.The measurement level of this data is _______.

Most traditional introductory statistics courses focus instruction in the area of ___________.

If it were not for the existence of an "absolute zero," ratio data would be considered the same as _______.

The highest level of data measurement is the ratio level.

You are the owner of a camping site and want to evaluate the feasibility of opening earlier during the year.For this analysis, you obtain the average maximum and minimum local daily temperatures for early spring.This is an example of _______.

Big data can include unstructured data such as writings and photographs.

Statistics are used to market vitamins.

Extracting and transforming data are two steps in data visualization.

Data mining utilizes the ETL process.ETL stands for ___________.

A software package defined as a category of computer graphics products used to create graphical displays and interfaces for software applications would be used in ______________.

If data indicated that a new product could serve as a cheaper substitute for a company's product, the CEO of the latter company might __________: