Introduction to Business Analytics Test Questions
Course Introduction
Introduction to Business Analytics provides students with a foundational understanding of how data-driven decision-making transforms organizations. The course covers essential concepts in data analysis, statistical methods, and the use of analytical tools to interpret business data. Through real-world case studies and hands-on exercises, students learn to identify key business problems, apply appropriate analytical techniques, and communicate insights effectively to support strategic and operational decision-making. This course equips students with the skills needed to harness the power of analytics in various business functions, preparing them for roles in the modern data-centric business environment.
Recommended Textbook
Business Statistics in Practice 7th Edition by Bruce Bowerman
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1039 Verified Questions
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Chapter 11: Statistical Inferences for Population Variances
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Sample Questions
Q1) A manufacturer of an automobile part has a process that is designed to produce the part with a target of 2.5 inches in length.In the past,the standard deviation of the length has been 0.035 inches.In an effort to reduce the variation in the process,the manufacturer has redesigned the process.A sample of 25 parts produced under the new process shows a sample standard deviation of 0.025 inches.Test the claim that the new process standard deviation has improved from the current process at = .05.
Q2) In testing the equality of population variances,two assumptions are required: independent samples and normally distributed populations.
A)True
B)False
Q3) Testing H<sub>0</sub>: <sub>1</sub><sup>2</sup> <sub>2</sub><sup>2</sup>,H<sub>A</sub>: <sub>1</sub><sup>2</sup> > <sub>2</sub><sup>2</sup> at = .05,where n<sub>1</sub> = 16,n<sub>2</sub> = 19,s<sub>1</sub><sup>2</sup> = .03,and s<sub>2</sub><sup>2</sup> = .02,can we reject the null hypothesis?
Q4) The F statistic can assume either a positive or a negative value.
A)True
B)False
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Chapter 12: Experimental Design and Analysis of Variance
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114 Flashcards
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Sample Questions
Q1) A sum of squares that measures the variability among the sample means is referred to as the:
A)Treatment sum of squares.
B)Error sum of squares.
C)Sum of squares within-treatment.
D)Total sum of squares.
E)Interaction sum of squares.
Q2) Interaction exists between two factors if the relationship between the mean response and one factor depends on the other factor.
A)True
B)False
Q3) The 95 percent individual confidence interval for <sub>1</sub> - <sub>2</sub>
(treatment mean 1 - treatment mean 2)will always be smaller than the Tukey's 95 percent simultaneous confidence interval for <sub>1</sub> - <sub>2</sub>.
A)True
B)False
Q4) Find Tukey's simultaneous 95 percent confidence interval for <sub>C</sub><sub>B</sub>,where
Q5) Consider the one-way ANOVA table.
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Chapter 13: Chi-Square Tests
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Sample Questions
Q1) On the most recent tax cut proposal,a random sample of Democrats and Republicans in the Congress cast their votes as follows:
Q2) At a recent meeting of educational researchers,comparisons were made between the type of college that freshmen attend and the numbers who drop out.A random sample of freshmen shows the following results:
Q3) A fastener manufacturing company uses a chi-square goodness of fit test to determine if a population of all lengths of ¼-inch bolts it manufactures is distributed according to a normal distribution.If we reject the null hypothesis,it is reasonable to assume that the population distribution is at least approximately normally distributed. A)True B)False
Q4) The AAA Co.is interested in their employees' level of satisfaction in the benefit package that they offer compared to their major competitors.A consultant hired to conduct the satisfaction survey told AAA Co.that the distribution of level of satisfaction at other companies is displayed below:
Q5) Consider a set of 50 measurements with mean 50.2 and standard deviation 18.7 and with the following observed frequencies.
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Chapter 14: Simple Linear Regression Analysis
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Sample Questions
Q1) An experiment was performed on a certain metal to determine if the strength is a function of heating time.Partial results based on a sample of 10 metal sheets are given below.The simple linear regression equation is
Q2) In simple regression analysis,the quantity \(\sum ( \hat { Y } - \bar { Y } ) ^ { 2 }\) Is called the __________ sum of squares.
A)Total
B)Explained
C)Unexplained
D)Error
Q3) A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of monthly tire sales (in thousands of tires)and monthly advertising expenditures (in thousands of dollars).The simple linear regression equation is = 3 + 1x,and the sample correlation coefficient (r<sup>2</sup>)= .6364.Test to determine if there is a significant correlation between the monthly tire sales and monthly advertising expenditures.Use H<sub>0</sub>: = 0 vs.H<sub>A</sub>: 0 at = .05.
Q4) Use the least squares regression equation,
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Chapter 15: Multiple Regression and Model Building
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Sample Questions
Q1) Below is a partial multiple regression ANOVA table.
Q2) Given the regression model y = <sub>0</sub> + <sub>1</sub>x<sub>1</sub> + <sub>2</sub>x<sub>2</sub> + <sub>3</sub>x<sub>1</sub><sup>2</sup> + <sub>4</sub>x<sub>2</sub><sup>2</sup> + ,if we wish to test the significance of higher-order terms (x<sub>1</sub><sup>2</sup> and x<sub>2</sub><sup>2</sup>),we would use the following test.
A)Overall F test
B)Durbin-Watson test
C)Partial F test
D)t test
E)Cook's distance measure
Q3) Consider the following partial computer output for a multiple regression model.
Q4) Consider the following analysis of variance table from a multiple regression model.Test the model for overall usefulness at = .01 and carefully make a managerial conclusion.
Q5) Calculate the odds ratio for an event when its probability is 0.75.
Q6) Consider the following partial computer output for a multiple regression model.
Q7) Consider the following partial computer output for a multiple regression model.
Q9) Below is a partial multiple regression computer output. Page 7
Q8) Calculate the odds ratio for an event when its probability is 0.50.
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Page 8
Chapter 16: Time Series Forecasting and Index Numbers
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Sample Questions
Q1) Consider the following data:
\[\begin{array} { c c }
\text { Time } & \text { Demand } \\
1 & 17 \\
2 & 21 \\
3 & 19 \\
4 & 23 \\
5 & 18 \\
6 & 16 \\
7 & 20 \\
8 & 18 \\
9 & 22 \\
10 & 20 \\
11 & 15 \\
12 & 22
\end{array}\]
Calculate S<sub>5</sub> using simple exponential smoothing if S<sub>3</sub> = 19.064 and ? = 0.2.
S<sub>5</sub> = 19.48
Q2) Use the following price information for three grains.
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Chapter 17: Process Improvement Using Control Charts
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Sample Questions
Q1) Suppose that \(\overline { \mathrm { X } }\)
And R charts based on subgroups of size 4 are being used to monitor the tire diameter.The \(\overline { \mathrm { X } }\)
And R charts are found to be in statistical control,with \(\overline { \overline { X } } = 50.25 , \bar { R } = .8\)
Inches.A histogram of the tire diameter measurements indicates that these measurements are approximately normally distributed.Find the sigma level capability of the process.
A)1.93
B)3.22
C)0.64
D)0.22
Q2) How well a process is able to meet the requirements set forth by the process design is called:
A)Process leeway.
B)Quality of conformance.
C)Quality of performance.
D)Quality of design.
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10
Chapter 18: Nonparametric Methods
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Sample Questions
Q1) The Wilcoxon signed ranks test is the nonparametric counterpart of the:
A)Large sample test about a single population mean.
B)Two independent samples t test.
C)One way ANOVA F test.
D)Paired difference t test.
E)F test for equality of population variances.
Q2) If you have data that consist of matched pairs collected from two dependent populations,then it may be appropriate to use the Wilcoxon signed ranks test.
A)True
B)False
Q3) The sign test is a nonparametric test for a population mean that is valid for any sample size and population shape.
A)True
B)False
Q4) The Wilcoxon signed ranks test is also called the Mann-Whitney test.
A)True
B)False
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Chapter 19: Decision Theory
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Sample Questions
Q1) A tire manufacturer needs to make a decision about the amount of production for the coming month (high vs.low).The level of production largely depends on the level of demand.For this situation,the level of demand (high,medium,low)is the state of nature.
A)True
B)False
Q2) Maximax is a criterion used when making decisions under uncertainty.
A)True
B)False
Q3) In utility analysis,a utility curve that shows a rapid increase in utility for initial amounts of money followed by a gradual leveling off for larger amounts of money is appropriate for a risk-seeking decision maker.
A)True
B)False
Q4) The __________________ criterion is preferred by pessimistic decision makers.
A)Maximax
B)Maximin
C)Utility theory
D)Risk theory
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