What is the definition of Variance?

Measures the average of the squared differences between each data point and the mean. It quantifies the degree to which data points deviate from the mean.

Highest value takeaway the lowest value

Sum of all the values divided by the number of data points

The square root of the variance. It measures the average distance between each data point and the mean.

Week 1 Quiz

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MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Why do statistics matter in business?

Increase Revenue

For Vibes

Employee Satisfaction

Risk Management

Solve complex formulas

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What's the definition of a population?

The entire set of individuals, items, or data under consideration in a statistical study

Group of people

A lot of numbers put together in a format

Set of items that are organised in a tabular format

A group of complex formulas that will summarise data

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is not a fundamental concept of statistics?

Population

Sample

Variable

Formulas

Parameters

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is an example of Ordinal Data?

Car models

Income

Customer Satisfaction Rating

Temperature

Name

MULTIPLE SELECT QUESTION

20 sec • 3 pts

Which of these are types of data?

Nominal

Internal

Ordinal

Interval

Fun

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which statement best defines Inferential Statistics?

Techniques used to summarize and describe data. Examples include measures of central tendency (mean, median, mode) and measures of dispersion (variance, standard deviation).

Takes historical data and feeds it into a machine learning model that considers key trends and patterns.

Techniques used to make predictions, inferences, or decisions about a population based on a sample. It includes hypothesis testing and confidence intervals.

Takes predictive data to the next level. Now that you have an idea of what will likely happen in the future, what should you do?

MULTIPLE SELECT QUESTION

20 sec • 2 pts

Which of these are Ethical Considerations you may encounter in a data analysis project?

Bias

PII

Password Protected

Transparency

Accuracy

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Week 1 Quiz

Why do statistics matter in business?

What's the definition of a population?

Which is not a fundamental concept of statistics?

What is an example of Ordinal Data?

Which of these are types of data?

Which statement best defines Inferential Statistics?

Which of these are Ethical Considerations you may encounter in a data analysis project?

Which of these are examples of Measures of Central Tendacny?

What is the definition of Variance?

Which of these are examples of handling outliers?

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