Business analytics exam quiz and answers graded A+

Business analytics exam quiz and
answers graded A+
Business analysis - ANS✅✅the process of using statistical analysis to drive business decisions from
data



Data table - ANS✅✅a table used to organize data



Data - ANS✅✅values with a context



Cases - ANS✅✅the rows of a data table; tells who/or what the data is from



context - ANS✅✅ideally tells who was measured, what was measured, how the data were
collected, where the data was collected, and when and why the study was performed



variable - ANS✅✅the characteristics recorded about each individual or case; usually shown as
columns in data table



variables identify.. - ANS✅✅WHAT has been measured



categorical variable - ANS✅✅data is recorded in categories; may only be yes or no; either nominal
or ordinal



quantitative variable - ANS✅✅a variable has measured numerical values with UNITS and variable
tells us about the quantity of what is measured; must have units!



What type of variable is age? - ANS✅✅it can be either; depends on WHY we are collecting the
data

-if age is measured in years it is quantitative; may be used for finding the average age of customers

-age is categorical if it is in categories like child, teen, adult



nominal variable - ANS✅✅categorical variables used only to name categories (that don't have
order)