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Business Analytics
Business Analytics MCQs
?
The daily closing values of the Dow Jones Industrial Average over a period of 30 days are best described as _____ data.
cross-sectional
discrete
time-series
nominal
?
A variable is classified as ordinal if:
there is a natural ordering of categories
there is no natural ordering of categories
the data arise from continuous measurements
we track the variable through a period of time
?
Gender and states of residence are examples of ____ data.
discrete
continuous
nominal
ordinal
?
How is the median defined if the number of observations is even?
the average of the two middle observations
the difference between the two middle observations
the most frequent observation
the difference between the highest and smallest observation
?
A histogram that is positively skewed is also called:
skewed to the right
skewed to the left
balanced
symmetric
?
What is the most common type of chart for showing the distribution of a numerical variable?
time series graph
histogram
bin
box plot
?
As a measure of variability, what is defined as the maximum value minus the minimum value?
variance
standard deviation
mean
range
?
The median can also be described as the:
middle observation when the data values are arranged in ascending order and observations are odd
best estimate of the population mean based on multiple samples
second percentile
the average of all values
?
a value represents the 95th percentile, this means that:
95% of all values are below this value
95% of all values are above this value
95% of the time you will observe this value
there is a 5% chance that this value is incorrect
?
Some measures of variability include:
Mean, Median, Standard Deviation
Range, Standard Deviation
Range, Median
Mean, Standard Deviation
?
We study relationships among numerical variables using:
correlation
covariance
scatterplot charts
all of these choices
?
Correlation and covariance measure:
the direction of a linear relationship between two numerical variables
the strength and direction of a linear relationship between two categorical variables
the strength of a linear relationship between two numerical variables
the strength and direction of a linear relationship between two numerical variables
?
The limitation of covariance as a descriptive measure of association is that it
only captures positive relationships
does not capture the units of the variables
is very sensitive to the units of the variables
is invalid if one of the variables is categorical
?
If the correlation of variables is close to 0, then we expect to see:
an upward sloping cluster of points on the scatterplot
a downward sloping cluster of points on the scatterplot
a cluster of points around a trendline on the scatterplot
a cluster of points with no apparent relationship on the scatterplot
?
Correlation is useful only for:
assessing the weakness of a linear relationship
conveying the same information in a simpler format than a scatterplot
measuring the strength of a linear relationship
automatically calculating covariances
?
The normal curve is also called a
bell-shaped curve
Asymmetric curve
S-curve
parabola
?
Which of the following are equal in a normal distribution:
range / standard deviation / variance
mean / median / standard deviation
mode/ median / standard deviation
mean / median / mode
?
One characteristic of a bell-shaped curve is that it is:
linear
bi-modal
symmetrical
parabolic
?
If man's height is normally distributed with a mean of 5 feet 10 inches, which value is least probable?
5 feet 6 inches
5 feet 10 inches
6 feet 1 inch
4 feet 11 inches
?
If a distribution has a mean of 100 and a standard deviation of 10, what value would be +2 standard deviations from the mean?
70
115
120
85
?
If a distribution has a mean of 60 and a standard deviation of 10, what value would be -1 standard deviations from the mean?
45
50
55
60
?
If a distribution has a mean of 35 and a standard deviation of 5, what value would be +1.5 standard deviations from the mean?
40
42.5
27.5
30
?
If a distribution has a mean of 35 and a standard deviation of 5, what value would be -2.5 standard deviations from the mean?
35
20
22.5
47.5
?
The Dow Jones Industrial Average is found to be normally distributed with a mean of 18000 and a standard deviation of 200. The DJIA is currently tradi...
0
more than 0.5
less than 0.5
1
?
What two scores would divide a normal distribution such that 68.26% of the general population falls within them if the mean is 100 and the standard de...
90 to 110
80 to 120
85 to 115
75 to 125
?
If a normal distribution of scores has a mean of 100 and a standard deviation of 10, what percentage of scores would lie below 120?
0
more than 0.5
less than 0.5
1
?
If a normal distribution of scores has a mean of 100 and a standard deviation of 10, what percentage of scores would lie below 70?
0
more than 0.5
less than 0.5
1
?
An indication of no linear relationship between a dependent variable and an independent variable would be:
R-squared equal to 1
R-squared equal to - 1
R-squared equal to 0
None of the other answers
?
n publishing the results of some research work, the following values of the R-squared were listed. Which one would appear to be incorrect?
0.91
0.06
0.47
-0.64
?
R2 tells us
how to determine someone's score.
how to describe a relationship.
the proportion of variability in Y accounted for by X.
all of the above
?
A weighted moving average having the early periods more heavily weighted
is more responsive to recent demand changes
is less responsive to recent demand..
places emphasis on the past demand data.
is always the most effective weighting scheme.
?
Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15. Forecast sales for the next day using a ...
12.8
13.0
70.0
14.0
?
Enrollment in a particular class for the last four semesters had been 120, 126, 110, and 135. The best forecast of enrollment next semester, based on ...
126.
135.
120.
124.
?
An automobile rental company wants to predict the yearly maintenance expense (Y) for an automobile using the number of miles driven during the year ( ...
96.89 percent variation in the maintenance costs
93.87 percent variation in the maintenance costs
92.12 percent variation in the maintenance costs
None of the above
?
Valentine's Day is the best day of the year for selling roses at River Road Florist. Dozens of roses sold on Valentine's Day over six years ...
107
104.75
103
None of the above
?
A numerical value used as a summary measure for a sample, such as sample mean, is known as a
population parameter
sample parameter
sample statistic
population mean
?
When the population size is larger than the sample size, then the sample statistic
can never be larger than the population parameter
can never be equal to the population parameter
can never be zero
None of the above answers is correct.
?
u is an example of a
population parameter
sample statistic
population variance
mode
?
he mean of a sample is
always equal to the mean of the population
always smaller than the mean of the population
computed by summing the data values and dividing the sum by (n - 1)
computed by summing all the data values and dividing the sum by the number of items
?
The sum of the percent frequencies for all classes will always equal
one
the number of classes
the number of items in the study
100
?
Since the mode is the most frequently occurring data value, it
can never be larger than the mean
is always larger than the median
must have a value of at least two
None of the above answers is correct.
?
The following data show the number of hours worked by 200 statistics students. Number of Hours Frequency 0 - 9 40 10 - 19 50 20 - 29 70 30 - 39 4...
is 40
is 50
is 90
can not be determined without the original data
?
The following data show the number of hours worked by 200 statistics students. Number of Hours Frequency 0 - 9 40 10 - 19 50 20 - 29 70 30 - 39 4...
is .2
is .45
is 40
can not be determined from the information given
?
The following data show the number of hours worked by 200 statistics students. Number of Hours Frequency 0 - 9 40 10 - 19 50 20 - 29 70 30 - 39 4...
is 90
is .25
is .45
can not be determined from the information given
?
The difference between the largest and the smallest data values is the
variance
interquartile range
range
coefficient of variation
?
Which of the following is not a measure of central location?
mean
median
variance
mode
