Business Analytics Final Exam

Business Analytics Final Exam

University

36 Qs

quiz-placeholder

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Business Analytics Final Exam

Business Analytics Final Exam

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Derek Nicoll

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36 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of data normalization in EDA?

To remove outliers

To standardize data to a common scale

To create new variables

To perform hypothesis testing

Answer explanation

Data normalization in EDA is used to standardize data to a common scale, which helps in comparing different variables effectively. This ensures that no single variable dominates due to its scale, making analysis more reliable.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statistical measure quantifies the strength and direction of a linear relationship between two variables?

Standard deviation

Variance

Correlation coefficient

P-value

Answer explanation

The correlation coefficient quantifies the strength and direction of a linear relationship between two variables, indicating how closely they move together. Other options like standard deviation and variance measure variability, not correlation.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the law of large numbers state?

Larger samples are always more accurate

Sample means converge to the population mean as sample size increases

All large samples are normally distributed

Larger populations have more variability

Answer explanation

The law of large numbers states that as the sample size increases, the sample means will get closer to the population mean. This makes the choice 'Sample means converge to the population mean as sample size increases' correct.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In R, which package is commonly used for data manipulation and transformation?

ggplot2

dplyr

caret

stats

Answer explanation

The 'dplyr' package in R is specifically designed for data manipulation and transformation, providing functions for filtering, selecting, and summarizing data. Other options like 'ggplot2' and 'caret' serve different purposes.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statistical test would you use to compare means among three or more groups?

t-test

Chi-square test

ANOVA

z-test

Answer explanation

ANOVA (Analysis of Variance) is the appropriate test for comparing means across three or more groups, as it assesses whether there are statistically significant differences between the group means.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of chart is best for displaying the distribution of a continuous variable?

Pie chart

Bar chart

Histogram

Scatter plot

Answer explanation

A histogram is the best choice for displaying the distribution of a continuous variable as it groups data into bins, allowing for visualization of frequency and distribution patterns. Other charts are less effective for this purpose.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'data wrangling' involve in EDA?

Collecting raw data

Transforming and mapping data from one format to another

Deleting all missing values

Creating complex visualizations

Answer explanation

Data wrangling in EDA primarily involves transforming and mapping data from one format to another, ensuring it is clean and structured for analysis. This is crucial for effective exploratory data analysis.

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