HBX - Business Analytics Questions and
Answers (100% Correct Answers) Already
Graded A+
histogram [ Ans: ] displays the frequency, or number, of
data points (often called observations) that fall within
specified bins - round up for bins in histograms (if 3.2 it
will roll into bin for 4)
outlier [ Ans: ] a data point that is more than a specified
distance below the lower quartile or above the upper
quartile of a data set
mean [ Ans: ] average; The mean is equal to the sum of all
of the data points in a set, divided by nn, the number of
data points (excel: average( ))
median [ Ans: ] The middle value of a data set (excel:
median( ))
Mode [ Ans: ] the value that occurs most frequently in a
data set (excel: mode.sngl( ))
conditional mean (excel) [ Ans: ] AVERAGEIF(range,
criteria, [average_range])
range [ Ans: ] Maximum value-Minimum value
standard deviation [ Ans: ] describes how much the values
in a single data set vary (stdev.s( ))
, coefficient of variation [ Ans: ] To compare variation in
two data sets; equation: Coefficient of Variation=(Standard
Deviation)/(Mean)
what is a scatter plot used for? [ Ans: ] To visualize the
relationship between two variables
correlation [ Ans: ] measures the strength of the linear
relationship between two variables (-1 to 1)
hidden variable [ Ans: ] a variable that is correlated with
each of two variables (such as ice cream and snow shovel
sales) that are not fundamentally related to each other
Time Series vs. Cross-Sectional Data: [ Ans: ] Time Series:
Time series data contain data about a given subject in
temporal order, measured at regular time intervals (e.g.
minutes, months, or years).
Cross-Sectional: Cross-sectional data contain data that
measure an attribute across multiple different subjects
(e.g. people, organizations, countries) at a given moment
in time or during a given time period.
if you remove outliers from a data set, what happens to
the standard deviation? [ Ans: ] it decreases
percentile (excel) [ Ans: ] PERCENTILE(set of data, %)
statistics [ Ans: ] numerical properties of a sample; a
statistic is an estimate of a true value of a parameter
Answers (100% Correct Answers) Already
Graded A+
histogram [ Ans: ] displays the frequency, or number, of
data points (often called observations) that fall within
specified bins - round up for bins in histograms (if 3.2 it
will roll into bin for 4)
outlier [ Ans: ] a data point that is more than a specified
distance below the lower quartile or above the upper
quartile of a data set
mean [ Ans: ] average; The mean is equal to the sum of all
of the data points in a set, divided by nn, the number of
data points (excel: average( ))
median [ Ans: ] The middle value of a data set (excel:
median( ))
Mode [ Ans: ] the value that occurs most frequently in a
data set (excel: mode.sngl( ))
conditional mean (excel) [ Ans: ] AVERAGEIF(range,
criteria, [average_range])
range [ Ans: ] Maximum value-Minimum value
standard deviation [ Ans: ] describes how much the values
in a single data set vary (stdev.s( ))
, coefficient of variation [ Ans: ] To compare variation in
two data sets; equation: Coefficient of Variation=(Standard
Deviation)/(Mean)
what is a scatter plot used for? [ Ans: ] To visualize the
relationship between two variables
correlation [ Ans: ] measures the strength of the linear
relationship between two variables (-1 to 1)
hidden variable [ Ans: ] a variable that is correlated with
each of two variables (such as ice cream and snow shovel
sales) that are not fundamentally related to each other
Time Series vs. Cross-Sectional Data: [ Ans: ] Time Series:
Time series data contain data about a given subject in
temporal order, measured at regular time intervals (e.g.
minutes, months, or years).
Cross-Sectional: Cross-sectional data contain data that
measure an attribute across multiple different subjects
(e.g. people, organizations, countries) at a given moment
in time or during a given time period.
if you remove outliers from a data set, what happens to
the standard deviation? [ Ans: ] it decreases
percentile (excel) [ Ans: ] PERCENTILE(set of data, %)
statistics [ Ans: ] numerical properties of a sample; a
statistic is an estimate of a true value of a parameter
