Business Analytics Final Exam | Verified Exam Questions and Answers |
Latest Updated Study Material 2026
Question:
Histogram
Answer:
a graph for a quantitative variable; we usually slice
up all the possible values into bins and then count the number of cases that fall in each bin
Question:
Relative frequency histograms
Answer:
percentages of each bin in the
histogram
Question:
Stem-and-leaf displays
Answer:
are like histograms, but they also give
the individual values
Question:
Quantitative Data Condition
Answer:
Before making a histogram or
stem-and-leaf display; the data must be values of a quantitative variable whose units are known
Question:
When describing a distribution, attention should be paid to
Answer:
its
shape, center, spread
,Question:
Shape
Answer:
a distribution in terms of its modes, its symmetry, and
whether it has any gaps or outlying values
Question:
Modes
Answer:
Peaks or humps seen in a histogram
Question:
Unimodal
Answer:
A distribution whose histogram has one main peak
Question:
Bimodal
Answer:
Two main peaks
Question:
Multimodal
Answer:
three or more peaks
Question:
Uniform
Answer:
A distribution whose histogram doesn't appear to have
any mode and in which all the bars are approximately the same height
Question:
Symmetric
,Answer:
the halves on either side of the center look, at least
approximately, like mirror images
Question:
Tails
Answer:
The thinner ends of a distribution
Question:
Skewed
Answer:
If one tail stretches out farther than the other: skewed
to side of where tail is
Question:
Judgment call
Answer:
Characterizing the shape of a distribution
Question:
The mean is a natural summary for
Answer:
unimodal, symmetric
distributions
Question:
Mean
Answer:
sum of y values (or x values)/ number of variables
Question:
If a distribution is skewed, contains gaps, or contains outliers, then it is better to use
Answer:
the median
, Question:
The median is
Answer:
resistant
Question:
Range
Answer:
max-min; not resistant to unusual observations
Question:
quartiles
Answer:
values that frame the middle 50% of the data. One
quarter of the data lies below the lower quartile, Q1, and one quarter lies above the upper
quartile, Q3
Question:
The interquartile range (IQR)
Answer:
defined to be the difference
between the two quartile values; Q3-Q1
Question:
Standard deviation
Answer:
takes into account how far each value is
from the mean; appropriate for symmetric distributions; square root of the variance
Question:
Variance
Answer:
(s^2) average of the squared deviations; sum of (y
value minus the mean)^2 / n-1
Latest Updated Study Material 2026
Question:
Histogram
Answer:
a graph for a quantitative variable; we usually slice
up all the possible values into bins and then count the number of cases that fall in each bin
Question:
Relative frequency histograms
Answer:
percentages of each bin in the
histogram
Question:
Stem-and-leaf displays
Answer:
are like histograms, but they also give
the individual values
Question:
Quantitative Data Condition
Answer:
Before making a histogram or
stem-and-leaf display; the data must be values of a quantitative variable whose units are known
Question:
When describing a distribution, attention should be paid to
Answer:
its
shape, center, spread
,Question:
Shape
Answer:
a distribution in terms of its modes, its symmetry, and
whether it has any gaps or outlying values
Question:
Modes
Answer:
Peaks or humps seen in a histogram
Question:
Unimodal
Answer:
A distribution whose histogram has one main peak
Question:
Bimodal
Answer:
Two main peaks
Question:
Multimodal
Answer:
three or more peaks
Question:
Uniform
Answer:
A distribution whose histogram doesn't appear to have
any mode and in which all the bars are approximately the same height
Question:
Symmetric
,Answer:
the halves on either side of the center look, at least
approximately, like mirror images
Question:
Tails
Answer:
The thinner ends of a distribution
Question:
Skewed
Answer:
If one tail stretches out farther than the other: skewed
to side of where tail is
Question:
Judgment call
Answer:
Characterizing the shape of a distribution
Question:
The mean is a natural summary for
Answer:
unimodal, symmetric
distributions
Question:
Mean
Answer:
sum of y values (or x values)/ number of variables
Question:
If a distribution is skewed, contains gaps, or contains outliers, then it is better to use
Answer:
the median
, Question:
The median is
Answer:
resistant
Question:
Range
Answer:
max-min; not resistant to unusual observations
Question:
quartiles
Answer:
values that frame the middle 50% of the data. One
quarter of the data lies below the lower quartile, Q1, and one quarter lies above the upper
quartile, Q3
Question:
The interquartile range (IQR)
Answer:
defined to be the difference
between the two quartile values; Q3-Q1
Question:
Standard deviation
Answer:
takes into account how far each value is
from the mean; appropriate for symmetric distributions; square root of the variance
Question:
Variance
Answer:
(s^2) average of the squared deviations; sum of (y
value minus the mean)^2 / n-1
