HBS Core - Business Analytics 2026 UPDATE
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTION
Central Limit Theorem - ANSWERS-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 - ANSWERS-Percentage of all possible samples that can be
expected to include the true population parameter
correlation coefficient - ANSWERS-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 - ANSWERS-Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - ANSWERS-AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - ANSWERS-
Population Mean +/- CONFIDENCE.NORM
Excel Function - Cumulative Probability - ANSWERS-NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value -
ANSWERS-T.TEST
, Excel Function - Find x-value on normal distribution - ANSWERS-NORM.INV
Excel Function - Percentile - ANSWERS-PERCENTILE.INC
Excel Function - Standard Normal Probability - ANSWERS-NORM.S.DIST
Excel Syntax - AVERAGEIF - ANSWERS-(criteria range, criteria, average
range)
Excel Syntax - CONFIDENCE.NORM - ANSWERS-(alpha, stdev, sample size)
Excel Syntax - NORM.DIST - ANSWERS-(X, MEAN, STDEV, CUMULATIVE)
Excel Syntax - NORM.INV - ANSWERS-(probability, mean, stdev)
Excel Syntax - NORM.S.DIST - ANSWERS-(z value, cumulative)
Excel Syntax - PERCENTILE.INC - ANSWERS-(array, percentile value)
Excel Syntax - T.TEST - ANSWERS-(array1, array2, tails, type)
Identifying Heteroskedasticity - ANSWERS-Funnel shape in residual plot
Standard Deviation - Definition - ANSWERS-A measure of the spread of a
data set's values around its mean value.
Standard Error - Definition - ANSWERS-Estimates how close the mean of the
sample is to the mean of the overall population
QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTION
Central Limit Theorem - ANSWERS-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 - ANSWERS-Percentage of all possible samples that can be
expected to include the true population parameter
correlation coefficient - ANSWERS-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 - ANSWERS-Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - ANSWERS-AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - ANSWERS-
Population Mean +/- CONFIDENCE.NORM
Excel Function - Cumulative Probability - ANSWERS-NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value -
ANSWERS-T.TEST
, Excel Function - Find x-value on normal distribution - ANSWERS-NORM.INV
Excel Function - Percentile - ANSWERS-PERCENTILE.INC
Excel Function - Standard Normal Probability - ANSWERS-NORM.S.DIST
Excel Syntax - AVERAGEIF - ANSWERS-(criteria range, criteria, average
range)
Excel Syntax - CONFIDENCE.NORM - ANSWERS-(alpha, stdev, sample size)
Excel Syntax - NORM.DIST - ANSWERS-(X, MEAN, STDEV, CUMULATIVE)
Excel Syntax - NORM.INV - ANSWERS-(probability, mean, stdev)
Excel Syntax - NORM.S.DIST - ANSWERS-(z value, cumulative)
Excel Syntax - PERCENTILE.INC - ANSWERS-(array, percentile value)
Excel Syntax - T.TEST - ANSWERS-(array1, array2, tails, type)
Identifying Heteroskedasticity - ANSWERS-Funnel shape in residual plot
Standard Deviation - Definition - ANSWERS-A measure of the spread of a
data set's values around its mean value.
Standard Error - Definition - ANSWERS-Estimates how close the mean of the
sample is to the mean of the overall population
