"Business Analytics updated exam Test
2025– Key Insights from James Evans
(3rd Edition)" guaranteed success
Graded +
In each of the following scenarios, select the appropriate scale of measurement.
a. An investor collects data on the weekly closing price of gold throughout the year.
b. An analyst assigns a sample of bond issues to one of the following credit ratings, given in
descending order of credit quality (increasing probability of default): AAA, AA, BBB, BB, CC, D.
c. The dean of the business school at a local university categorizes students by major (i.e.,
accounting, finance, marketing, etc.) to help in determining class offerings in the future.
a. ratio, b. ordinal, c. nominal
In each of the following scenarios, select the appropriate scale of measurement.
a, A meteorologist records the amount of monthly rainfall over the past year.
b. A sociologist notes the birth year of 50 individuals.
c, An investor monitors the daily stock price of BP following the 2010 oil disaster in the Gulf of
Mexico.
a. ratio, b. interval, c. ratio
An online retail company is trying to predict customer spending in the first three months of the
year. Brian Duffy, the marketing analyst of the company, has compiled a data set on 200
existing customers that includes sex (Sex: Female/Male), annual income in 1,000s (Income),
age (Age, in years), and total spending in the first three months of the year (Spending).
a. Label them as categorical or numerical
b. what is the measurement scale of each of them?
,a. Sex- Cat, Income- Num, Age- Num, Spending- Num
b. Sex- Nominal, Income- Ratio, Age- Ratio, Spending- Ratio
what does the process of analytics include?
(a) identifying the problem,
(b) gathering relevant data that frequently are not in a usable form
(c) cleaning up the data to make them usable,
(d) loading them into data storage models,
According to recent estimates, annually, the average American spends $583 on alcohol and
$1,100 on coffee.
a. The relevant population consists of:
All Americans
American used to compute the estimates
b. Are the estimates based on sample of population data?
a. All Americans, b. Sample Data
An accounting professor wants to know the average GPA of the students enrolled in her class.
She looks up information on Blackboard about the students enrolled in her class and computes
the average GPA as 3.29.
a. T or F: The population is all students enrolled in the accounting class.
b. Doe the value 3.29 represent the population parameter or the sample statistic?
a. True, b. population parameter
Research suggests that depression significantly increases the risk of developing dementia later
in life. Suppose that in a study involving 949 elderly persons, it was found that 22% of those
who had depression went on to develop dementia, compared to only 17% of those who did
not have depression.
a. Choose the relevant population and the sample.
b. Are the numbers 22% and 17% associated with the population or a sample?
, a. the population is all elderly people, the sample consists of 949 elderly people. b. Sample
Statstic
Which of the following variables are categorical and which are numerical? If the variable is
numerical, then specify whether the variable is discrete or continuous.
a, Points scored in a football game.
b. Race and ethnicity in a high school classroom.
c. Heights of 15-year-olds.
a. numerical; discrete. b. categorical. c. numerical continuous
Which of the following variables are categorical and which are numerical? If the variable is
numerical, then specify whether the variable is discrete or continuous.
a. colors of cars in a mall parking lot
b. time it takes each student to complete a final exam
c. the number of patrons who frequent a restaurant
a. categorical, b. numerical continuous, c. numerical; discrete
In each of the following scenarios, select the appropriate scale of measurement.
a. A kindergarten teach marks whether each student is a boy or girl
b. A ski resort records the daily temperature during the month of January.
c. A restaurant surveys its customers about the quality of its waiting staff on a scale of 1 to 4,
where 1 is poor and 4 is excellent.
a. nominal, b. Interval, c. Ordinal
what questions that data analytics enables us to answer?
What has happened in the past?
Why did it happen?
What could happen in the future?
Can some of the actions resulting from our insights be automated?
Can the analytics process be automated?
Data to Decision 1.1
2025– Key Insights from James Evans
(3rd Edition)" guaranteed success
Graded +
In each of the following scenarios, select the appropriate scale of measurement.
a. An investor collects data on the weekly closing price of gold throughout the year.
b. An analyst assigns a sample of bond issues to one of the following credit ratings, given in
descending order of credit quality (increasing probability of default): AAA, AA, BBB, BB, CC, D.
c. The dean of the business school at a local university categorizes students by major (i.e.,
accounting, finance, marketing, etc.) to help in determining class offerings in the future.
a. ratio, b. ordinal, c. nominal
In each of the following scenarios, select the appropriate scale of measurement.
a, A meteorologist records the amount of monthly rainfall over the past year.
b. A sociologist notes the birth year of 50 individuals.
c, An investor monitors the daily stock price of BP following the 2010 oil disaster in the Gulf of
Mexico.
a. ratio, b. interval, c. ratio
An online retail company is trying to predict customer spending in the first three months of the
year. Brian Duffy, the marketing analyst of the company, has compiled a data set on 200
existing customers that includes sex (Sex: Female/Male), annual income in 1,000s (Income),
age (Age, in years), and total spending in the first three months of the year (Spending).
a. Label them as categorical or numerical
b. what is the measurement scale of each of them?
,a. Sex- Cat, Income- Num, Age- Num, Spending- Num
b. Sex- Nominal, Income- Ratio, Age- Ratio, Spending- Ratio
what does the process of analytics include?
(a) identifying the problem,
(b) gathering relevant data that frequently are not in a usable form
(c) cleaning up the data to make them usable,
(d) loading them into data storage models,
According to recent estimates, annually, the average American spends $583 on alcohol and
$1,100 on coffee.
a. The relevant population consists of:
All Americans
American used to compute the estimates
b. Are the estimates based on sample of population data?
a. All Americans, b. Sample Data
An accounting professor wants to know the average GPA of the students enrolled in her class.
She looks up information on Blackboard about the students enrolled in her class and computes
the average GPA as 3.29.
a. T or F: The population is all students enrolled in the accounting class.
b. Doe the value 3.29 represent the population parameter or the sample statistic?
a. True, b. population parameter
Research suggests that depression significantly increases the risk of developing dementia later
in life. Suppose that in a study involving 949 elderly persons, it was found that 22% of those
who had depression went on to develop dementia, compared to only 17% of those who did
not have depression.
a. Choose the relevant population and the sample.
b. Are the numbers 22% and 17% associated with the population or a sample?
, a. the population is all elderly people, the sample consists of 949 elderly people. b. Sample
Statstic
Which of the following variables are categorical and which are numerical? If the variable is
numerical, then specify whether the variable is discrete or continuous.
a, Points scored in a football game.
b. Race and ethnicity in a high school classroom.
c. Heights of 15-year-olds.
a. numerical; discrete. b. categorical. c. numerical continuous
Which of the following variables are categorical and which are numerical? If the variable is
numerical, then specify whether the variable is discrete or continuous.
a. colors of cars in a mall parking lot
b. time it takes each student to complete a final exam
c. the number of patrons who frequent a restaurant
a. categorical, b. numerical continuous, c. numerical; discrete
In each of the following scenarios, select the appropriate scale of measurement.
a. A kindergarten teach marks whether each student is a boy or girl
b. A ski resort records the daily temperature during the month of January.
c. A restaurant surveys its customers about the quality of its waiting staff on a scale of 1 to 4,
where 1 is poor and 4 is excellent.
a. nominal, b. Interval, c. Ordinal
what questions that data analytics enables us to answer?
What has happened in the past?
Why did it happen?
What could happen in the future?
Can some of the actions resulting from our insights be automated?
Can the analytics process be automated?
Data to Decision 1.1
