HBS Core - Business
Analytics with 100% correct
answers (latest update)
Standard Deviation - Definition - answer A measure of the spread of a
data set's values around its mean value.
Standard Error - Definition - answer Estimates how close the mean of the
sample is to the mean of the overall population
Standard Error - Formula - answer Standard Deviation / Sqrt(n)
Variance - answer A measure of the spread of a data set's values around
its mean value.
Coefficient of Variation - Definition - answer Measure of a data set's
variation relative to its mean. Expressed as a % of mean
Coefficient of Variation - Formula - answer CV = STD/Mean
68-95-99.7 Rule - answer Normal Distribution
68% of values within 1 stdev
95% of values within 2 stdev
99.7% of value within 3 stdev
Adjusted R-Squared - answer Used to compare regression models against
each other. Unique property of decreasing when an independent variable
that does not improve the model is added
, Base Case - answer Element of a categorical variable that is not included
in the regression model
Central Limit Theorem - answer 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 - answer Percentage of all possible samples that can be
expected to include the true population parameter
correlation coefficient - answer 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 - answer Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - answer AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - answer
Population Mean +/- CONFIDENCE.NORM
Excel Function - Cumulative Probability - answer NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value -
answer T.TEST
Excel Function - Find x-value on normal distribution - answer NORM.INV
Excel Function - Percentile - answer PERCENTILE.INC
Excel Function - Standard Normal Probability - answer NORM.S.DIST
Analytics with 100% correct
answers (latest update)
Standard Deviation - Definition - answer A measure of the spread of a
data set's values around its mean value.
Standard Error - Definition - answer Estimates how close the mean of the
sample is to the mean of the overall population
Standard Error - Formula - answer Standard Deviation / Sqrt(n)
Variance - answer A measure of the spread of a data set's values around
its mean value.
Coefficient of Variation - Definition - answer Measure of a data set's
variation relative to its mean. Expressed as a % of mean
Coefficient of Variation - Formula - answer CV = STD/Mean
68-95-99.7 Rule - answer Normal Distribution
68% of values within 1 stdev
95% of values within 2 stdev
99.7% of value within 3 stdev
Adjusted R-Squared - answer Used to compare regression models against
each other. Unique property of decreasing when an independent variable
that does not improve the model is added
, Base Case - answer Element of a categorical variable that is not included
in the regression model
Central Limit Theorem - answer 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 - answer Percentage of all possible samples that can be
expected to include the true population parameter
correlation coefficient - answer 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 - answer Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - answer AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - answer
Population Mean +/- CONFIDENCE.NORM
Excel Function - Cumulative Probability - answer NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value -
answer T.TEST
Excel Function - Find x-value on normal distribution - answer NORM.INV
Excel Function - Percentile - answer PERCENTILE.INC
Excel Function - Standard Normal Probability - answer NORM.S.DIST
