BANA Final Exam questions and
answers rated
prescriptive - correct answer ✔✔ ________________ analytics use techniques that take input
data and yield a best course of action.
of class under 20 is not significant - correct answer ✔✔ The attached data shows data for 48
national universities. The Graduation Rate column is the percentage of students who initially
enrolled at the university and graduated. The % of Classes Under 20 column shows the
percentages of classes with fewer than 20 students that are offered. The Student/Faculty Ratio
column is the number of students enrolled divided by the total number of faculty. Finally, the
Alumni Giving Rate column is the percentage of alumni who made a donation to the university.
Alumni Giving
Develop an estimated multiple linear regression model that could be used to predict the alumni
giving rate using the Graduation Rate, % of Classes Under 20, and Student/Faculty Ratio as
independent variables. At a 1% level of significance you would conclude that
Residual - correct answer ✔✔ The difference between the observed value of the dependent
variable and the value predicted using the estimated regression equation is known as the
onsider the Butler Trucking Company problem that we analyzed in class. Management has asked
you to add driver experience to your regression model. You have decided to divide drivers into
five groups: 1 year, 2 years, 3 years, 4 years, 5 years or more. How many dummy variables will
you need to add to your regression model? - correct answer ✔✔ 4
Bubble chart - correct answer ✔✔ In order to visualize three variables in a two-dimensional
graph, we use a
2-D chart.
, heat map - correct answer ✔✔ A two-dimensional graph representing the data using different
shades of color to indicate magnitude is called a
time series - correct answer ✔✔ A set of observations on a variable measured at successive
points in time or over successive periods of time constitute a
638.293 - correct answer ✔✔ Home Depot, a home-improvement retailer, sells several brands
of washing machines. The attached file contains a sample of 24 models of full-size washing
machines sold by Home Depot in 2016, with each observation recording the washing machine
capacity (in cubic feet) and the list price (in $).
HomeDepot
You developed a simple linear regression model to predict the list price given the cubic feet.
Based on residual analysis you decide to add a quadratic (squared) term to your model. What is
the estimated coefficient for this new term? Round your answer to three decimal places.
A negative relationship - correct answer ✔✔ Using the attached file, create a scatter diagram of
x and y and add a trendline. The trendline generally indicates that between x and y there is
predictive and prescriptive analytics - correct answer ✔✔ Advanced analytics generally refers to
Is necessary to convey the meaning of the data to the audience - correct answer ✔✔ Data-ink is
the ink used in a table or chart that
seasonal pattern - correct answer ✔✔ A time series plot of a period of time (in months) versus
sales (in number of units) is shown below. Which of the following data patterns best describes
the scenario shown?
seasonal pattern and linear trend - correct answer ✔✔ A time series plot of a period of time
(quarterly) versus quarterly sales (in $1,000s) is shown below. Which of the following data
patterns best describes the scenario shown?
answers rated
prescriptive - correct answer ✔✔ ________________ analytics use techniques that take input
data and yield a best course of action.
of class under 20 is not significant - correct answer ✔✔ The attached data shows data for 48
national universities. The Graduation Rate column is the percentage of students who initially
enrolled at the university and graduated. The % of Classes Under 20 column shows the
percentages of classes with fewer than 20 students that are offered. The Student/Faculty Ratio
column is the number of students enrolled divided by the total number of faculty. Finally, the
Alumni Giving Rate column is the percentage of alumni who made a donation to the university.
Alumni Giving
Develop an estimated multiple linear regression model that could be used to predict the alumni
giving rate using the Graduation Rate, % of Classes Under 20, and Student/Faculty Ratio as
independent variables. At a 1% level of significance you would conclude that
Residual - correct answer ✔✔ The difference between the observed value of the dependent
variable and the value predicted using the estimated regression equation is known as the
onsider the Butler Trucking Company problem that we analyzed in class. Management has asked
you to add driver experience to your regression model. You have decided to divide drivers into
five groups: 1 year, 2 years, 3 years, 4 years, 5 years or more. How many dummy variables will
you need to add to your regression model? - correct answer ✔✔ 4
Bubble chart - correct answer ✔✔ In order to visualize three variables in a two-dimensional
graph, we use a
2-D chart.
, heat map - correct answer ✔✔ A two-dimensional graph representing the data using different
shades of color to indicate magnitude is called a
time series - correct answer ✔✔ A set of observations on a variable measured at successive
points in time or over successive periods of time constitute a
638.293 - correct answer ✔✔ Home Depot, a home-improvement retailer, sells several brands
of washing machines. The attached file contains a sample of 24 models of full-size washing
machines sold by Home Depot in 2016, with each observation recording the washing machine
capacity (in cubic feet) and the list price (in $).
HomeDepot
You developed a simple linear regression model to predict the list price given the cubic feet.
Based on residual analysis you decide to add a quadratic (squared) term to your model. What is
the estimated coefficient for this new term? Round your answer to three decimal places.
A negative relationship - correct answer ✔✔ Using the attached file, create a scatter diagram of
x and y and add a trendline. The trendline generally indicates that between x and y there is
predictive and prescriptive analytics - correct answer ✔✔ Advanced analytics generally refers to
Is necessary to convey the meaning of the data to the audience - correct answer ✔✔ Data-ink is
the ink used in a table or chart that
seasonal pattern - correct answer ✔✔ A time series plot of a period of time (in months) versus
sales (in number of units) is shown below. Which of the following data patterns best describes
the scenario shown?
seasonal pattern and linear trend - correct answer ✔✔ A time series plot of a period of time
(quarterly) versus quarterly sales (in $1,000s) is shown below. Which of the following data
patterns best describes the scenario shown?
