Set of flashcards Businss Analytics (Page 1 of 2)

Flashcards	43
Language	English
Category	Micro-Economics
Level	University
Created / Updated	23.01.2021 / 28.01.2021
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Descriptive analytics ...

... can predict risk and find relationships in data not readily apparent with traditional analyses.

... helps companies classify their customers into segments to develop specific marketing campaigns.

... helps detect hidden patterns in large quantities of data to group data into sets to predict behavior.

... can use mathematical techniques with optimization to make decisions that take into account the uncertainty in the data.

Which of the following is an example of a measure of continuous metrics?

four errors revealed in an invoice

a delivery delayed by seven days

weight and volume of a sheet of steel

three incomplete orders on a day

Which of the following is the mathematical model for deriving total cost of only manufacturing?

TC = VC + (C × Q)

TC = F + (C × Q)

TC = F + C

TC = F + (V × Q)

Which of the following ways would 10² × 5³/100 - 73 be represented in an Excel spreadsheet?

10(2) * 5(3) / 100 ^ 73

10(2) ^ 5(3) / 100 - 73

10^2 * 5^3 / 100 - 73

10*2 ^ 5*3 / 100 - 73

Below is the spreadsheet for demand prediction of a company that sells chocolates.

Given that D = a-bP, where D, is demand, "a" and "b," are linear constants, and P, is price, from the below spreadsheet, how will the formula in B9 be represented in Excel using relative addressing?

B4-B5*A9

C5-C6*A10

B4-B5*A10

B5-B6*A10

Which EXCEL function is used to find the largest value in a range of cells?

SUM(range)

COUNT(range)

MAX(range)

COUNTIF(range, criteria)

________ is a logical function that returns one value if the condition is true and another if the condition is false.

OR(condition 1, condition 2…)

AND(condition 1, condition 2…)

TO(value if true, value if false)

IF(condition, value if true, value if false)

If cell G7 contains the function ________, it states that if the value in cell C3 is 9, the number 7 will be assigned to cell G7; if the value in cell C3 is not 9, the number 4 will be assigned to cell G7.

=IF(G7=9)(G7=7)=OR(G7=4)

=IF(G7=7)=THEN(C3=9)=OR(C3=4)

=IF(C3=9)(C3=7)=OR(C3=4)

=IF(C3=9,7,4)

Which of the following charts provides a useful means for displaying data over time?

Scatter chart

A doughnut chart

Pie chart

Line chart

Which of the following charts shows three-dimensional data?

Surface chart

Column chart

Stock chart

Doughnut chart

The purpose of sampling is to ________.

enumerate all the values in the population

measure all items of interest for a particular interest or investigation

obtain sufficient information to draw a valid inference about a population

calculate all variables and observations within a population

In statistical notation, the elements of a data set are typically labeled as ________.

summation operators

letters in capitals

Greek letters

subscripted variables

According to statistical notations, what does Σ stand for?

to act as a summation operator

to represent sample statistics

to represent population measures

to represent the number of items in a population

Which of the following measures of location is calculated using the formula in the picture below, where n is the number of observations?

midrange

sample mean

mode

median

Which of the following is true for a median?

A median is only meaningful for interval or ordinal data and not for ratio data.

Medians can be calculated no matter how the data is arranged.

Medians are affected by outliers.

For an even number of observations, the median is the mean of the two middle numbers.

Which of the following is a difference between a mean and a median?

A mean divides the data half above it and half below it; a median does not.

A median is not affected by outliers; a mean is affected by outliers.

A mean is an observation that occurs most frequently; a median is the average of all observations.

A median is not meaningful for ratio data; a mean is meaningful to ratio data.

Which of the following is an example of a measure of dispersion?

median

mode

variance

midrange

________ states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 - 1/k².

Prime number theorem

Bertrand's postulate

Oppermann's conjecture

Chebyshev's theorem

What is the formula for a z-score equation for the ith observation?

See picture:

In finance, the ________ is the ratio of a fund's excess returns (annualized total returns minus Treasury bill returns) to its standard deviation.

field ratio

Sortino ratio

Calmar ratio

Sharpe ratio

Calculate the coefficient of variation from the following data:

z-score = 1.32; standard deviation = 0.173; mean = 4.7; total variation = 0.6

27.16

156.66

0.04

-0.5

The ________ measures the degree of asymmetry of observations around the mean.

coefficient of variation

return to risk factor

coefficient of skewness

coefficient of kurtosis

________ is a measure of the linear association between two variables, X and Y

Kurtosis

Proportion

Skewness

Covariance

A ________ is a description of the approach that is used to obtain samples from a population prior to any data collection activity.

population frame

sampling weight

sampling plan

probability interval

________ involves selecting items from a population so that every subset of a given size has an equal chance of being selected.

Convenience sampling

Subjective sampling

Judgment sampling

Simple random sampling

________ sampling applies to populations that are divided into natural subsets and allocates the appropriate proportion of samples to each subset.

Systematic

Stratified

Cluster

Continuous process

A(n) ________ is a single number derived from sample data that is used to estimate the value of a population parameter.

confidence interval

frequentist interference

interval estimate

point estimate

Which of the following is true of an unbiased estimator value?

The expected value will align perfectly with the population mean.

The expected value will not equal the population's parameters.

The expected value will not be greater than zero.

The expected value will equal the population's parameter.

Which of the following is implied from the standard error of the mean formula?

that true means of populations can be found easier than those of samples

that standard deviation increases with increase in sample size

that larger sample sizes provide greater accuracy in estimating the true population mean

that the true mean of the population can only be calculated using smaller sample sizes

A ________ is one that provides a range for anticipating the value of a new observation from the same population.

prediction interval

confidence interval

t-distribution

standard normal distribution

Which of the following propositions describes an existing theory or belief?

standard deviation

null hypothesis

proportion

alternative hypothesis

Which of the following is the initial step in conducting a hypothesis test?

collecting data and calculating a test statistic

selecting a level of significance

identifying the population parameter of interest

determining a decision rule

Which of the following is true about determining the proper form of the hypotheses?

H0 is statistically proved true while testing

failure to reject H0 proves H1 wrong

H0 is always assumed to be true in testing

H1 is always assumed to be true in testing

Which of the following is the test statistic for a one-sample test for mean when the population standard deviation is unknown?

A)

B)

C)

D)

Which of the following is necessary to calculate the variable cost of production for the company to develop a profit model?

unit sale price

quantity of item produced

quantity of item sold

fixed cost of production

Calculate the coefficient of variation from the following data:

z-score = 1.32; standard deviation = 0.173; mean = 4.7; total variation = 0.6

27.16

156.66

0.04

-0.5

Which of the following values of the coefficients of variation of stocks represents the least risky stock?

1.0

0.005

0.5

0.045

Which of the following describes a positively skewed histogram?

a histogram that tails off toward the right

a histogram that has no fluctuation in mass

a histogram where more mass tails off toward the left

) a histogram where mass is only concentrated in the middle

The ________ measures the degree of asymmetry of observations around the mean.

coefficient of variation

return to risk factor

coefficient of skewness

coefficient of kurtosis

Which of the following is true of the coefficient of skewness (CS)?

If the CS is positive, the distribution of values tails off to the left.

If the CS value is between 0.5 and 1, the skewness is considered to be moderate.

If the CS is closer to zero, the degree of skewness is considered to be high.

If the CS value is between -0.5 and -1, the skewness is considered negligible.

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