2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
WPC 300 Final Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
analytics
✓ -:- the process of developing actionable decisions or recommendations for actions
based upon insights generated from historical data
primary data
✓ -:- data collected specifically for the research problem at hand (ex: survey,
interviews)
secondary data
✓ -:- data collected for some purpose other than the problem at hand (ex: firm's
proprietary data, internet data, stock/capital market data)
stimulated data
✓ -:- data based on assumption and simulation
importance of data visualization
1|Page | Grade A+| 2024/2025
,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- 1. visual elements allow us to see and understand trends, outliers, & patterns in
data
2. can comprehend difficult concepts or identify new patterns more easily
3. humans LOVE visuals
3 main principles of data visualization
✓ -:- 1. chart should tell a story / yield insight beyond text
2. chart should have graphical integrity (Tufte's "Lie" factor)
3. chart should min graphical complexity (Tufte's "data ink" ratio)
statistics
✓ -:- science concerned with developing and studying methods for collecting,
analyzing, interpreting, and presenting empirical data to assist in making effective
decisions
descriptive statistic
✓ -:- study data in entirety
3 principles of describing data: center, spread, shape
inferential statistics
2|Page | Grade A+| 2024/2025
, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- utilize random sample of data taken from population to describe and make
INFERENCES about the population
- reliability of conclusion dependent on CL
3 principles of descriptive statistics
✓ -:- 1. Data centrality (mean, median, mode)
2Data spread / variability (range, MAD, variance, stdv)
3. Data shape (kurtosis)
kurtosis
✓ -:- measure of whether the data are peaked or flat relative to a normal distribution
High kurtosis = data is peaked near mean, declines rather rapidly, and has heavy tails
Low kurtosis = data is flat near mean
covariance
✓ -:- measure of the DIRECTION of linear association between two variables
scaled between negative infinity and positive infinity
aka how variables vary from each other
3|Page | Grade A+| 2024/2025
WPC 300 Final Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
analytics
✓ -:- the process of developing actionable decisions or recommendations for actions
based upon insights generated from historical data
primary data
✓ -:- data collected specifically for the research problem at hand (ex: survey,
interviews)
secondary data
✓ -:- data collected for some purpose other than the problem at hand (ex: firm's
proprietary data, internet data, stock/capital market data)
stimulated data
✓ -:- data based on assumption and simulation
importance of data visualization
1|Page | Grade A+| 2024/2025
,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- 1. visual elements allow us to see and understand trends, outliers, & patterns in
data
2. can comprehend difficult concepts or identify new patterns more easily
3. humans LOVE visuals
3 main principles of data visualization
✓ -:- 1. chart should tell a story / yield insight beyond text
2. chart should have graphical integrity (Tufte's "Lie" factor)
3. chart should min graphical complexity (Tufte's "data ink" ratio)
statistics
✓ -:- science concerned with developing and studying methods for collecting,
analyzing, interpreting, and presenting empirical data to assist in making effective
decisions
descriptive statistic
✓ -:- study data in entirety
3 principles of describing data: center, spread, shape
inferential statistics
2|Page | Grade A+| 2024/2025
, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- utilize random sample of data taken from population to describe and make
INFERENCES about the population
- reliability of conclusion dependent on CL
3 principles of descriptive statistics
✓ -:- 1. Data centrality (mean, median, mode)
2Data spread / variability (range, MAD, variance, stdv)
3. Data shape (kurtosis)
kurtosis
✓ -:- measure of whether the data are peaked or flat relative to a normal distribution
High kurtosis = data is peaked near mean, declines rather rapidly, and has heavy tails
Low kurtosis = data is flat near mean
covariance
✓ -:- measure of the DIRECTION of linear association between two variables
scaled between negative infinity and positive infinity
aka how variables vary from each other
3|Page | Grade A+| 2024/2025
