MSIS 3223 - Nord - Okstate - Exam 1 Questions With 100% Correct Answers.

_______ is a measure of the linear relationship between two variables, X and Y, which does not depend on the units of measurement. - Correlation ________ is a logical function that returns one value if the condition is true and another if the condition is false. - IF(condition, value if true, value if false) ________ is a measure of the linear association between two variables, X and Y - Covariance ________ measures the worth of a stream of cash flows, taking into account the time value of money. - Net present value A graphical depiction of a frequency distribution for numerical data in the form of a column chart is called a ________. - histogram Complete the following sentence: a Dashboard... - All of these. Decision variables: - can be selected at the discretion of the decision maker Descriptive analytics: - helps companies classify their customers into segments to develop specific marketing campaigns. Descriptive decision models: - describe relationships but do not tell a manager what to do. During which phase in problem solving is a formal model often developed? - structuring the problemFollowing are the components of a data set containing purchase details of a shoe manufacturing company. Identify the ratio data. - Item cost For two variables, a positive correlation coefficient indicates ________. - a linear relationship exists for which one variable increases as the other also increases How is the return to risk described in financial statistics? - as the reciprocal of coefficient of variation In a MATCH function, if the match_type = 0, then ________. - MATCH finds the first value that is exactly equal to lookup_value In statistical notation, the elements of a data set are typically labeled as ________. - subscripted variables In statistics, ________ refers to the peakedness or flatness of a histogram. - kurtosis Lauren, a stock broker, has data consisting of price, price/earnings ratio, and market capitalization for seven different stocks on one particular day. She wishes to plot these three variables in two dimensions. Which of the following charts must Lauren use? - Bubble chart Nominal data: - are sorted into categories according to specified characteristics. Observations consisting of pairs of variable data are required to construct a ________ chart. - scatter Philip wishes to understand the relative proportion of each data source to thetotal. Which of the following charts must Philip use? - Pie chart Predictive analytics: - detects patterns in historical data and extrapolates them forward in time Prescriptive decision models help: - decision makers identify the best solution to decision problems. Roger wants to compare values across categories using vertical rectangles. Which of the following charts must Roger use? - Clustered column chart The ________ is a formal statistical measure for categorical data, such as defects or errors in quality control applications or consumer preferences in market research - proportion The ________ is the average of the greatest and least values in the data set. - midrange The ________ is the observation that occurs most frequently. - mode The ________ measures the degree of asymmetry of observations around the mean. - coefficient of skewness The correlation coefficient is scaled between - -1, 1 The demand for coffee beans over a period of three months has been represented in the form of an L-shaped curve. Which form of model was used here? - visual model The easiest way to locate a particular function is to select a cell and click onthe Insert function button represented by ________ on the Excel ribbon. - fx The Excel function of ________ is used to find the largest value in a range of cells. - MAX(range) The measure of location that specifies the middle value when the data are arranged from least to greatest is the ________. - median