HBS CORE - BUSINESS ANALYTICS
EXAM QUESTIONS AND ANSWERS.
VERIFIED 2025/2026.
Standard Deviation - Definition - ANS A measure of the spread of a data set's values around
its mean value.
Standard Error - Definition - ANS Estimates how close the mean of the sample is to the mean
of the overall population
Standard Error - Formula - ANS Standard Deviation / Sqrt(n)
Variance - ANS A measure of the spread of a data set's values around its mean value.
Coefficient of Variation - Definition - ANS Measure of a data set's variation relative to its
mean. Expressed as a % of mean
Coefficient of Variation - Formula - ANS CV = STD/Mean
68-95-99.7 Rule - ANS Normal Distribution
68% of values within 1 stdev
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, 95% of values within 2 stdev
99.7% of value within 3 stdev
Adjusted R-Squared - ANS Used to compare regression models against each other. Unique
property of decreasing when an independent variable that does not improve the model is
added
Base Case - ANS Element of a categorical variable that is not included in the regression model
Central Limit Theorem - ANS If we take sufficiently large randomly selected samples from a
population, the means of these samples will be normally distributed regardless the underlying
population's distribution
Confidence Level - ANS Percentage of all possible samples that can be expected to include
the true population parameter
correlation coefficient - ANS Measure of the strength of a linear relationship between two
variables. Ranges from -1 to 1. Equals Multiple R in a regression model output
Error Term - ANS Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - ANS AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - ANS Population Mean +/-
CONFIDENCE.NORM
Excel Function - Cumulative Probability - ANS NORM.DIST
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
EXAM QUESTIONS AND ANSWERS.
VERIFIED 2025/2026.
Standard Deviation - Definition - ANS A measure of the spread of a data set's values around
its mean value.
Standard Error - Definition - ANS Estimates how close the mean of the sample is to the mean
of the overall population
Standard Error - Formula - ANS Standard Deviation / Sqrt(n)
Variance - ANS A measure of the spread of a data set's values around its mean value.
Coefficient of Variation - Definition - ANS Measure of a data set's variation relative to its
mean. Expressed as a % of mean
Coefficient of Variation - Formula - ANS CV = STD/Mean
68-95-99.7 Rule - ANS Normal Distribution
68% of values within 1 stdev
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, 95% of values within 2 stdev
99.7% of value within 3 stdev
Adjusted R-Squared - ANS Used to compare regression models against each other. Unique
property of decreasing when an independent variable that does not improve the model is
added
Base Case - ANS Element of a categorical variable that is not included in the regression model
Central Limit Theorem - ANS If we take sufficiently large randomly selected samples from a
population, the means of these samples will be normally distributed regardless the underlying
population's distribution
Confidence Level - ANS Percentage of all possible samples that can be expected to include
the true population parameter
correlation coefficient - ANS Measure of the strength of a linear relationship between two
variables. Ranges from -1 to 1. Equals Multiple R in a regression model output
Error Term - ANS Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - ANS AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - ANS Population Mean +/-
CONFIDENCE.NORM
Excel Function - Cumulative Probability - ANS NORM.DIST
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
