LSUS CHEN- MBA 706 MODULE 4 QUESTIONS AND ANSWERS ALREADY GRADED A+. 100% VERIFIED
SOLUTIONS | UPDATED PER LATEST GUIDELINES | GRADED A+...
Question 1
Which type of analytics is primarily used to predict future outcomes based on historical data?
A. Predictive analytics
B. Descriptive analytics
C. Prescriptive analytics
D. Diagnostic analytics
🟢 Correct Answer:
A. Predictive analytics
🔴 RATIONALE:
Predictive analytics uses historical data and statistical models to forecast future events or outcomes. Descriptive
analytics summarizes past data, diagnostic analytics explains why something happened, and prescriptive
analytics recommends actions.
Question 2
A company wants to understand why sales declined in the last quarter. Which type of analytics is most
appropriate?
A. Predictive analytics
B. Diagnostic analytics
,C. Prescriptive analytics
D. Descriptive analytics
🟢 Correct Answer:
B. Diagnostic analytics
🔴 RATIONALE:
Diagnostic analytics investigates causes of past performance. Descriptive analytics would summarize the decline,
but diagnostic analytics examines underlying factors to answer "why."
Question 3
In a linear regression model, the R-squared value represents:
A. The correlation coefficient
B. The p-value of the slope
C. The proportion of variance in the dependent variable explained by the independent variables
D. The standard error of the estimate
🟢 Correct Answer:
C. The proportion of variance in the dependent variable explained by the independent variables
🔴 RATIONALE:
R-squared measures how much variability in the response variable is accounted for by the model. It ranges from
0 to 1. It is not the same as the correlation coefficient, p-value, or standard error.
,Question 4
In hypothesis testing, a Type I error occurs when:
A. Failing to reject a false null hypothesis
B. Failing to reject a true null hypothesis
C. Accepting a false null hypothesis
D. Rejecting a true null hypothesis
🟢 Correct Answer:
D. Rejecting a true null hypothesis
🔴 RATIONALE:
A Type I error is rejecting a null hypothesis that is actually true. A Type II error is failing to reject a false null
hypothesis.
Question 5
Which type of chart is most appropriate for displaying the frequency of categorical data?
A. Bar chart
B. Scatter plot
C. Line chart
D. Histogram
🟢 Correct Answer:
A. Bar chart
, 🔴 RATIONALE:
Bar charts display frequencies or values for discrete categories. Histograms are used for continuous data, while
scatter plots show relationships between two continuous variables.
Question 6
In a normal distribution, approximately what percentage of data values fall within one standard deviation of the
mean?
A. 50%
B. 95%
C. 68%
D. 99.7%
🟢 Correct Answer:
C. 68%
🔴 RATIONALE:
The empirical rule states that about 68% of values in a normal distribution lie within one standard deviation of
the mean, 95% within two, and 99.7% within three.
Question 7
A p-value of 0.03 in a hypothesis test with a significance level of 0.05 indicates that:
A. The alternative hypothesis should be rejected
SOLUTIONS | UPDATED PER LATEST GUIDELINES | GRADED A+...
Question 1
Which type of analytics is primarily used to predict future outcomes based on historical data?
A. Predictive analytics
B. Descriptive analytics
C. Prescriptive analytics
D. Diagnostic analytics
🟢 Correct Answer:
A. Predictive analytics
🔴 RATIONALE:
Predictive analytics uses historical data and statistical models to forecast future events or outcomes. Descriptive
analytics summarizes past data, diagnostic analytics explains why something happened, and prescriptive
analytics recommends actions.
Question 2
A company wants to understand why sales declined in the last quarter. Which type of analytics is most
appropriate?
A. Predictive analytics
B. Diagnostic analytics
,C. Prescriptive analytics
D. Descriptive analytics
🟢 Correct Answer:
B. Diagnostic analytics
🔴 RATIONALE:
Diagnostic analytics investigates causes of past performance. Descriptive analytics would summarize the decline,
but diagnostic analytics examines underlying factors to answer "why."
Question 3
In a linear regression model, the R-squared value represents:
A. The correlation coefficient
B. The p-value of the slope
C. The proportion of variance in the dependent variable explained by the independent variables
D. The standard error of the estimate
🟢 Correct Answer:
C. The proportion of variance in the dependent variable explained by the independent variables
🔴 RATIONALE:
R-squared measures how much variability in the response variable is accounted for by the model. It ranges from
0 to 1. It is not the same as the correlation coefficient, p-value, or standard error.
,Question 4
In hypothesis testing, a Type I error occurs when:
A. Failing to reject a false null hypothesis
B. Failing to reject a true null hypothesis
C. Accepting a false null hypothesis
D. Rejecting a true null hypothesis
🟢 Correct Answer:
D. Rejecting a true null hypothesis
🔴 RATIONALE:
A Type I error is rejecting a null hypothesis that is actually true. A Type II error is failing to reject a false null
hypothesis.
Question 5
Which type of chart is most appropriate for displaying the frequency of categorical data?
A. Bar chart
B. Scatter plot
C. Line chart
D. Histogram
🟢 Correct Answer:
A. Bar chart
, 🔴 RATIONALE:
Bar charts display frequencies or values for discrete categories. Histograms are used for continuous data, while
scatter plots show relationships between two continuous variables.
Question 6
In a normal distribution, approximately what percentage of data values fall within one standard deviation of the
mean?
A. 50%
B. 95%
C. 68%
D. 99.7%
🟢 Correct Answer:
C. 68%
🔴 RATIONALE:
The empirical rule states that about 68% of values in a normal distribution lie within one standard deviation of
the mean, 95% within two, and 99.7% within three.
Question 7
A p-value of 0.03 in a hypothesis test with a significance level of 0.05 indicates that:
A. The alternative hypothesis should be rejected
