ISDS 3003 FINAL EXAM REVIEW STUDY
GUIDE 2026 COMPLETE QUESTIONS
WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <RECENT
VERSION>
Part 1: Introduction to Business Analytics & Statistics Fundamentals (Q1-20)
1. What are the three main categories of business analytics?
A) Past, Present, Future
B) Descriptive, Predictive, Prescriptive
C) Data, Information, Knowledge
D) Quantitative, Qualitative, Operational
Answer: B) Descriptive (what happened?), Predictive (what could happen?), and
Prescriptive (what should we do?) are the three core categories.
2. A dataset showing last quarter's total sales by region is an example of:
A) Predictive Analytics
B) Prescriptive Analytics
C) Descriptive Analytics
D) Proactive Analytics
Answer: C) It describes what has already happened, which is the purpose of
descriptive analytics.
3. In a dataset, what is an "observation"?
A) A characteristic or quantity of interest
B) A single row representing one entity in the data
C) The average value of a variable
D) A predefined category for data
Answer: B) An observation is a set of measurements for a single entity (e.g., one
customer, one day, one product), typically represented as a row.
,4. Categorical data that has a natural order is known as:
A) Nominal Data
B) Ordinal Data
C) Interval Data
D) Ratio Data
Answer: B) Ordinal data represents categories with a meaningful order (e.g.,
customer satisfaction: poor, fair, good, excellent).
5. Which of the following is a continuous quantitative variable?
A) Number of students in a class
B) Temperature in degrees Celsius
C) Type of payment (cash, credit)
D) Shirt size (S, M, L)
Answer: B) Temperature is continuous because it can take on any value within a
given range. The number of students is discrete.
6. The entire group of individuals or objects about which we want information
is called the:
A) Sample
B) Population
C) Parameter
D) Statistic
Answer: B) The population is the complete set of all items of interest.
7. A numerical measure describing a characteristic of a sample is called a:
A) Population
B) Parameter
C) Statistic
D) Variable
Answer: C) A statistic is a measure from a sample (e.g., sample mean), while a
parameter is from a population.
8. Which of the following is NOT a level of measurement?
A) Nominal
B) Ordinal
C) Interval
,D) Variable
Answer: D) "Variable" is the item being measured, not a level of measurement
itself.
9. The purpose of using a sample is to:
A) Make data collection easier and cheaper
B) Estimate population parameters
C) Make inferences about the population
D) All of the above
Answer: D) Sampling is used for efficiency, cost-effectiveness, and to enable
statistical inference.
10. Data collected at a single point in time is known as:
A) Time Series Data
B) Cross-sectional Data
C) Panel Data
D) Longitudinal Data
Answer: B) Cross-sectional data provides a "snapshot" at one moment.
11. Which of the following is a key challenge of "Big Data"?
A) Volume
B) Velocity
C) Variety
D) All of the above
Answer: D) The "3 Vs" of Big Data are Volume (scale), Velocity (speed of
generation), and Variety (different forms).
12. A statistician calculates the average income of 100 randomly selected
households in a city. This average is a:
A) Parameter
B) Statistic
C) Population
D) Variable
Answer: B) It is a measure calculated from a sample.
, 13. The process of using sample data to make estimates or test claims about a
population is called:
A) Data sampling
B) Statistical inference
C) Descriptive statistics
D) Data warehousing
Answer: B) This is the definition of statistical inference.
14. Which level of measurement has a true zero point?
A) Nominal
B) Ordinal
C) Interval
D) Ratio
Answer: D) Ratio data has a true zero, meaning "zero" indicates the absence of the
quantity (e.g., height, weight, sales).
15. Data that has been collected by another person or company for a different
purpose is called:
A) Primary Data
B) Secondary Data
C) Internal Data
D) Real-time Data
Answer: B) Secondary data is not collected by the user firsthand.
16. A variable that can take on an infinite number of values between any two
values is:
A) Discrete
B) Continuous
C) Categorical
D) Ordinal
Answer: B) Continuous variables are measured, not counted, and can be infinitely
divisible.
17. The science of collecting, organizing, analyzing, interpreting, and
presenting data is:
A) Mathematics
GUIDE 2026 COMPLETE QUESTIONS
WITH CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <RECENT
VERSION>
Part 1: Introduction to Business Analytics & Statistics Fundamentals (Q1-20)
1. What are the three main categories of business analytics?
A) Past, Present, Future
B) Descriptive, Predictive, Prescriptive
C) Data, Information, Knowledge
D) Quantitative, Qualitative, Operational
Answer: B) Descriptive (what happened?), Predictive (what could happen?), and
Prescriptive (what should we do?) are the three core categories.
2. A dataset showing last quarter's total sales by region is an example of:
A) Predictive Analytics
B) Prescriptive Analytics
C) Descriptive Analytics
D) Proactive Analytics
Answer: C) It describes what has already happened, which is the purpose of
descriptive analytics.
3. In a dataset, what is an "observation"?
A) A characteristic or quantity of interest
B) A single row representing one entity in the data
C) The average value of a variable
D) A predefined category for data
Answer: B) An observation is a set of measurements for a single entity (e.g., one
customer, one day, one product), typically represented as a row.
,4. Categorical data that has a natural order is known as:
A) Nominal Data
B) Ordinal Data
C) Interval Data
D) Ratio Data
Answer: B) Ordinal data represents categories with a meaningful order (e.g.,
customer satisfaction: poor, fair, good, excellent).
5. Which of the following is a continuous quantitative variable?
A) Number of students in a class
B) Temperature in degrees Celsius
C) Type of payment (cash, credit)
D) Shirt size (S, M, L)
Answer: B) Temperature is continuous because it can take on any value within a
given range. The number of students is discrete.
6. The entire group of individuals or objects about which we want information
is called the:
A) Sample
B) Population
C) Parameter
D) Statistic
Answer: B) The population is the complete set of all items of interest.
7. A numerical measure describing a characteristic of a sample is called a:
A) Population
B) Parameter
C) Statistic
D) Variable
Answer: C) A statistic is a measure from a sample (e.g., sample mean), while a
parameter is from a population.
8. Which of the following is NOT a level of measurement?
A) Nominal
B) Ordinal
C) Interval
,D) Variable
Answer: D) "Variable" is the item being measured, not a level of measurement
itself.
9. The purpose of using a sample is to:
A) Make data collection easier and cheaper
B) Estimate population parameters
C) Make inferences about the population
D) All of the above
Answer: D) Sampling is used for efficiency, cost-effectiveness, and to enable
statistical inference.
10. Data collected at a single point in time is known as:
A) Time Series Data
B) Cross-sectional Data
C) Panel Data
D) Longitudinal Data
Answer: B) Cross-sectional data provides a "snapshot" at one moment.
11. Which of the following is a key challenge of "Big Data"?
A) Volume
B) Velocity
C) Variety
D) All of the above
Answer: D) The "3 Vs" of Big Data are Volume (scale), Velocity (speed of
generation), and Variety (different forms).
12. A statistician calculates the average income of 100 randomly selected
households in a city. This average is a:
A) Parameter
B) Statistic
C) Population
D) Variable
Answer: B) It is a measure calculated from a sample.
, 13. The process of using sample data to make estimates or test claims about a
population is called:
A) Data sampling
B) Statistical inference
C) Descriptive statistics
D) Data warehousing
Answer: B) This is the definition of statistical inference.
14. Which level of measurement has a true zero point?
A) Nominal
B) Ordinal
C) Interval
D) Ratio
Answer: D) Ratio data has a true zero, meaning "zero" indicates the absence of the
quantity (e.g., height, weight, sales).
15. Data that has been collected by another person or company for a different
purpose is called:
A) Primary Data
B) Secondary Data
C) Internal Data
D) Real-time Data
Answer: B) Secondary data is not collected by the user firsthand.
16. A variable that can take on an infinite number of values between any two
values is:
A) Discrete
B) Continuous
C) Categorical
D) Ordinal
Answer: B) Continuous variables are measured, not counted, and can be infinitely
divisible.
17. The science of collecting, organizing, analyzing, interpreting, and
presenting data is:
A) Mathematics
