1 | Page
Introduction to Business Analytics and
Descriptive Analytics ( Updated 2026/2027 ) 1-
100 Complete Questions & Answers (Solved)
100% Correct
What should you always start with when analyzing data?
A Question of Interest.
Why is it important to ensure you are measuring the correct
thing in data analysis?
To make sure the data is relevant for the question and to allow
for meaningful descriptions.
What is an example of scaling data in the context of Covid-19?
Comparing Covid-19 cases per capita.
How can the rate of return affect perceptions of an investment?
A higher rate of return (e.g., 60%) may elicit sympathy for a loss
compared to a lower rate (e.g., 0.60%).
What are nominal prices?
The dollar value of a series as actually measured at each point in
time.
What are real prices?
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The value a series would have taken if prices remained fixed at
some point in history, designed to measure volumes. What does
the Consumer Price Index (CPI) represent?
A weighted average of prices of consumer items, indexed to
1000 in the base period.
What is the significance of adjusting for inflation in financial
data?
It allows for a more accurate comparison of financial figures
over time by accounting for price changes.
What is descriptive analysis useful for?
Understanding the quality of your data, missing values, veracity,
outliers, and simple relationships between variables.
How can descriptive statistics summarize data?
By condensing large amounts of individual data into one or two
numbers, such as averages.
What is a frequency distribution?
A summary of how often each value occurs in a dataset.
What visualizations can be used to describe categorical data?
Bar charts and pie charts.
What is a pivot table used for in data analysis?
To summarize and analyze relationships between categorical
data, such as income and qualification.
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What are the different ways to present a pivot table?
Counts, % of Total, % of Column, % of Row.
What does interpreting % of row and % of column in a pivot
table help with?
Understanding the relationships between different categorical
variables.
How can you describe bivariate categorical data?
Using a pivot table or contingency table to show the relationship
between two categorical variables.
What is the purpose of visualizing categorical data?
To make the data clearer and easier to interpret.
What is the role of descriptive statistics in evaluating an actress's
performance?
To summarize her movie roles using metrics like average movie
takings or Rotten Tomato scores.
What is the importance of scaling data in financial analysis?
It allows for comparisons that account for different investment
sizes and inflation effects.
What is the relationship between qualifications and income in
categorical data analysis?
It can be explored using pivot tables to show counts or
percentages across different qualifications and income brackets.
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What is a cumulative distribution table?
A table constructed from a frequency table that shows the
cumulative frequency of data.
How can numerical data be summarized?
By categorizing it and constructing a frequency distribution.
What does a histogram tell us about numerical data?
It reveals the shape of the distribution of the data.
What are the three types of skewness in data distribution?
Positively skewed, negatively skewed, and symmetric.
What is the median?
The middle value in a data set where 50% of values are equal to
or higher and 50% are equal to or lower.
How is the median calculated in Excel?
Using the formula =Median(A1:A21).
What is the significance of skewness in relation to mean and
median?
Mean = Median for symmetric distribution; Mean > Median for
positive skewness; Mean < Median for negative skewness.
What indicates a highly skewed distribution?
Skewness less than -1 or greater than 1.
What indicates a moderately skewed distribution?
Introduction to Business Analytics and
Descriptive Analytics ( Updated 2026/2027 ) 1-
100 Complete Questions & Answers (Solved)
100% Correct
What should you always start with when analyzing data?
A Question of Interest.
Why is it important to ensure you are measuring the correct
thing in data analysis?
To make sure the data is relevant for the question and to allow
for meaningful descriptions.
What is an example of scaling data in the context of Covid-19?
Comparing Covid-19 cases per capita.
How can the rate of return affect perceptions of an investment?
A higher rate of return (e.g., 60%) may elicit sympathy for a loss
compared to a lower rate (e.g., 0.60%).
What are nominal prices?
The dollar value of a series as actually measured at each point in
time.
What are real prices?
,2 | Page
The value a series would have taken if prices remained fixed at
some point in history, designed to measure volumes. What does
the Consumer Price Index (CPI) represent?
A weighted average of prices of consumer items, indexed to
1000 in the base period.
What is the significance of adjusting for inflation in financial
data?
It allows for a more accurate comparison of financial figures
over time by accounting for price changes.
What is descriptive analysis useful for?
Understanding the quality of your data, missing values, veracity,
outliers, and simple relationships between variables.
How can descriptive statistics summarize data?
By condensing large amounts of individual data into one or two
numbers, such as averages.
What is a frequency distribution?
A summary of how often each value occurs in a dataset.
What visualizations can be used to describe categorical data?
Bar charts and pie charts.
What is a pivot table used for in data analysis?
To summarize and analyze relationships between categorical
data, such as income and qualification.
,3 | Page
What are the different ways to present a pivot table?
Counts, % of Total, % of Column, % of Row.
What does interpreting % of row and % of column in a pivot
table help with?
Understanding the relationships between different categorical
variables.
How can you describe bivariate categorical data?
Using a pivot table or contingency table to show the relationship
between two categorical variables.
What is the purpose of visualizing categorical data?
To make the data clearer and easier to interpret.
What is the role of descriptive statistics in evaluating an actress's
performance?
To summarize her movie roles using metrics like average movie
takings or Rotten Tomato scores.
What is the importance of scaling data in financial analysis?
It allows for comparisons that account for different investment
sizes and inflation effects.
What is the relationship between qualifications and income in
categorical data analysis?
It can be explored using pivot tables to show counts or
percentages across different qualifications and income brackets.
, 4 | Page
What is a cumulative distribution table?
A table constructed from a frequency table that shows the
cumulative frequency of data.
How can numerical data be summarized?
By categorizing it and constructing a frequency distribution.
What does a histogram tell us about numerical data?
It reveals the shape of the distribution of the data.
What are the three types of skewness in data distribution?
Positively skewed, negatively skewed, and symmetric.
What is the median?
The middle value in a data set where 50% of values are equal to
or higher and 50% are equal to or lower.
How is the median calculated in Excel?
Using the formula =Median(A1:A21).
What is the significance of skewness in relation to mean and
median?
Mean = Median for symmetric distribution; Mean > Median for
positive skewness; Mean < Median for negative skewness.
What indicates a highly skewed distribution?
Skewness less than -1 or greater than 1.
What indicates a moderately skewed distribution?
