Multiple Choice Questions

                A manager at EdLynne Enterprise wishes to know the company's revenue and profit in its previous quarter.  Which of the following business analytics will help the manager?

 

• Prescriptive analytics

• Descriptive analytics

• Predictive analytics

• Normative analytics

                  What is a straight line that attempts to predict the relationship between two points, also known as a trend line or line of best fit?

• Fitted line

• Scatter line

• Slope line

• Regression line

    _________________ is a tool for building statistical model that characterizes the relationship between a dependent variable and explanatory variables.

 

•    R-Squared

• Standard error

• Multiple regression

• Multiple R

The _________ measures the degree of asymmetry of observations around the mean.

 

• coefficient of skewness

• coefficient of variation

• coefficient curve

• coefficient of kurtosis

A regression analysis summary output on sales of movie’s tickets and amount spent on promotion shows the following results: Multiple R = 0.83, R-square = 0.65 and the p-value for the coefficient = 6.89E-06. Which of the following statements is FALSE:

• Approximately 65% of the variation in sales of movie’s tickets is explained by the amount spent for promotion

    

   

   

• Approximately 83% of the variation in sales of movie’s tickets is influenced by the amount spent on promotion

• The p-value of the F-test and the p-value for the coefficient should be the same at value of 6.89E-06

• The p-value for the coefficient was less than the level of significance (0.05), indicating that the amount spent on promotion is significant in influencing sales of movie’s tickets

Two following picture shows a shape to illustrate spread of residuals variance of data.  This shape is called as _____________________________.

  

• Homoscedasticity

• Homogeneity

• Heteroscedasticity

• Heterogeneity

Leha decides to get tested for COVID-19 based on mild symptoms. The test result indicates that Type II error occurs, which means _________________.

• the test result shows Leha has coronavirus, but she actually does not.

• the test result shows Leha has coronavirus, but it is actually uncertain.

• the test result shows Leha does not have coronavirus, but she actually does.

• the test result shows Leha does not have coronavirus, but it is actually uncertain.

What statement below best describes why we do data analytics in business?

• Analytics improve our understanding of how the business works

• We must show a return on the investment we make in data & analytical resources

• We need specific insights to make business decisions

• We have to calculate & report financial results to owners / shareholders

Amongst which of the following is/are the true about regression analysis?

• 1. Describes associations within the data

• 1. Modeling relationships within the data

• 1. Answering yes/no questions about the data

• 1. Answering the difference between the data

In _______________, more values fall on one side of the center than the other, and the mean, median and mode all differ from each other.

• Normal distribution

• Skewed distribution

• Data distribution

• Bell curve distribution