Business Analytics Exam questions
and answers graded A+
If the data distribution is symmetric, the skewness is - ANS✅✅0
For data skewed to the left, the skewness is - ANS✅✅negative
When data are positively skewed, the mean will usually be - ANS✅✅greater than the median.
Generally, which one of the following is the least appropriate measure of central tendency for a data
set that contains outliers? - ANS✅✅Mean
Statements about the proportion of data values that must be within a specified number of standard
deviations of the mean can be made using - ANS✅✅Chebyshev's theorem.
The empirical rule states that, for data having a bell-shaped distribution, the percentage of data
values being within one standard deviation of the mean is approximately - ANS✅✅68%
A numerical measure of linear association between two variables is the - ANS✅✅covariance.
Positive values of covariance indicate - ANS✅✅positive relation between the independent and the
dependent variables.
The correlation coefficient ranges between - ANS✅✅-1 and +1.
The collection of all possible sample points in an experiment is - ANS✅✅the sample space.
The range of probability is - ANS✅✅0 to 1.
An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The
probability of outcome E4 is - ANS✅✅0.100. (add them together)
,An experiment consists of three steps. There are four possible results on the first step, three possible
results on the second step, and two possible results on the third step. The total number of
experimental outcomes is - ANS✅✅24. (multiply them together)
Assume your favorite soccer team has 2 games left to finish the season. The outcome of each game
can be win, lose or tie. The number of possible outcomes is - ANS✅✅9 (multiply them together)
Ten individuals are candidates for positions of president and vice president of an organization. How
many possibilities of selections exist? - ANS✅✅90 (10 first slot x 9 second slot)
How many outcomes are on the roulette wheel shown in class? - ANS✅✅38
What is the probability of red on the roulette wheel? Enter your answer as a decimal rounded to
three decimal places. - ANS✅✅.474 (36/2=18 18/38=.474)
From a group of six people, two individuals are to be selected at random. How many selections are
possible? - ANS✅✅15 ((n! / (x! * (n-x)!) (6! / (2! * 4!))
Assuming that each of the 52 cards in an ordinary deck has a probability of 1/52 of being drawn,
what is the probability of drawing a black ace? - ANS✅✅2/52
A method of assigning probabilities based upon judgment is referred to as the - ANS✅✅subjective
method.
When the assumption of equally likely outcomes is used to assign probability values, the method
used to assign probabilities is referred to as the - ANS✅✅classical method
When the results of experimentation or historical data are used to assign probability values, the
method used to assign probabilities is referred to as the - ANS✅✅relative frequency method.
Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the classical
method for computing probability is used, the probability that the next customer will purchase a
computer is - ANS✅✅.25
The sum of the probabilities of two complementary events is - ANS✅✅1.0
, The union of events A and B is the event containing all the sample points belonging to - ANS✅✅A
or B or both.
If P(A) = 0.50, P(B) = 0.60, and P(A intersection B) = 0.30, then P(A union B) = - ANS✅✅0.80
P(A)+P(B)-P(A intersection B)
.5+.6=1.1-.3=.8
If two events are independent, then - ANS✅✅the product of their probabilities gives their
intersection.
If two events, A and B, are mutually exclusive, the probability of A intersection B - ANS✅✅must
always be equal to 0
If A and B are independent events with P(A) = 0.38 and P(B) = 0.55, then P(A given B) = -
ANS✅✅0.38
Events A and B are mutually exclusive with P(A) = 0.3 and P(B) = 0.2. Then, P(B^c) = - ANS✅✅0.80.
If A and B are mutually exclusive events with P(A) = 0.295, P(B) = 0.32, then P(A | B) = -
ANS✅✅0.0000. (because they are mutually exclusive)
Bayes' theorem is used to compute - ANS✅✅the posterior probabilities
A very short quiz has one multiple choice question with five possible choices (a, b, c, d, e) and one
true or false question. Assume you are taking the quiz but do not have any idea what the correct
answer is to either question, but you mark an answer anyway. What is the probability you have
given the correct answer to both questions? Enter your answer as a decimal rounded to two decimal
places. - ANS✅✅.10 (1/2)(1/5) = 1/10)
A very short quiz has one multiple choice question with five possible choices (a, b, c, d, e) and one
true or false question. Assume you are taking the quiz but do not have any idea what the correct
answer is to either question, but you mark an answer anyway. What is the probability that only one
of the two answers is correct? Enter your answer as a decimal rounded to two decimal places. -
ANS✅✅.50 (1 - [both right or both wrong] = 1 - [1/10 + (1/2)(4/5)] = 1-[1/2] = 1/2)
and answers graded A+
If the data distribution is symmetric, the skewness is - ANS✅✅0
For data skewed to the left, the skewness is - ANS✅✅negative
When data are positively skewed, the mean will usually be - ANS✅✅greater than the median.
Generally, which one of the following is the least appropriate measure of central tendency for a data
set that contains outliers? - ANS✅✅Mean
Statements about the proportion of data values that must be within a specified number of standard
deviations of the mean can be made using - ANS✅✅Chebyshev's theorem.
The empirical rule states that, for data having a bell-shaped distribution, the percentage of data
values being within one standard deviation of the mean is approximately - ANS✅✅68%
A numerical measure of linear association between two variables is the - ANS✅✅covariance.
Positive values of covariance indicate - ANS✅✅positive relation between the independent and the
dependent variables.
The correlation coefficient ranges between - ANS✅✅-1 and +1.
The collection of all possible sample points in an experiment is - ANS✅✅the sample space.
The range of probability is - ANS✅✅0 to 1.
An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The
probability of outcome E4 is - ANS✅✅0.100. (add them together)
,An experiment consists of three steps. There are four possible results on the first step, three possible
results on the second step, and two possible results on the third step. The total number of
experimental outcomes is - ANS✅✅24. (multiply them together)
Assume your favorite soccer team has 2 games left to finish the season. The outcome of each game
can be win, lose or tie. The number of possible outcomes is - ANS✅✅9 (multiply them together)
Ten individuals are candidates for positions of president and vice president of an organization. How
many possibilities of selections exist? - ANS✅✅90 (10 first slot x 9 second slot)
How many outcomes are on the roulette wheel shown in class? - ANS✅✅38
What is the probability of red on the roulette wheel? Enter your answer as a decimal rounded to
three decimal places. - ANS✅✅.474 (36/2=18 18/38=.474)
From a group of six people, two individuals are to be selected at random. How many selections are
possible? - ANS✅✅15 ((n! / (x! * (n-x)!) (6! / (2! * 4!))
Assuming that each of the 52 cards in an ordinary deck has a probability of 1/52 of being drawn,
what is the probability of drawing a black ace? - ANS✅✅2/52
A method of assigning probabilities based upon judgment is referred to as the - ANS✅✅subjective
method.
When the assumption of equally likely outcomes is used to assign probability values, the method
used to assign probabilities is referred to as the - ANS✅✅classical method
When the results of experimentation or historical data are used to assign probability values, the
method used to assign probabilities is referred to as the - ANS✅✅relative frequency method.
Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the classical
method for computing probability is used, the probability that the next customer will purchase a
computer is - ANS✅✅.25
The sum of the probabilities of two complementary events is - ANS✅✅1.0
, The union of events A and B is the event containing all the sample points belonging to - ANS✅✅A
or B or both.
If P(A) = 0.50, P(B) = 0.60, and P(A intersection B) = 0.30, then P(A union B) = - ANS✅✅0.80
P(A)+P(B)-P(A intersection B)
.5+.6=1.1-.3=.8
If two events are independent, then - ANS✅✅the product of their probabilities gives their
intersection.
If two events, A and B, are mutually exclusive, the probability of A intersection B - ANS✅✅must
always be equal to 0
If A and B are independent events with P(A) = 0.38 and P(B) = 0.55, then P(A given B) = -
ANS✅✅0.38
Events A and B are mutually exclusive with P(A) = 0.3 and P(B) = 0.2. Then, P(B^c) = - ANS✅✅0.80.
If A and B are mutually exclusive events with P(A) = 0.295, P(B) = 0.32, then P(A | B) = -
ANS✅✅0.0000. (because they are mutually exclusive)
Bayes' theorem is used to compute - ANS✅✅the posterior probabilities
A very short quiz has one multiple choice question with five possible choices (a, b, c, d, e) and one
true or false question. Assume you are taking the quiz but do not have any idea what the correct
answer is to either question, but you mark an answer anyway. What is the probability you have
given the correct answer to both questions? Enter your answer as a decimal rounded to two decimal
places. - ANS✅✅.10 (1/2)(1/5) = 1/10)
A very short quiz has one multiple choice question with five possible choices (a, b, c, d, e) and one
true or false question. Assume you are taking the quiz but do not have any idea what the correct
answer is to either question, but you mark an answer anyway. What is the probability that only one
of the two answers is correct? Enter your answer as a decimal rounded to two decimal places. -
ANS✅✅.50 (1 - [both right or both wrong] = 1 - [1/10 + (1/2)(4/5)] = 1-[1/2] = 1/2)
