Introduction to Data Analytics Exam Preparation Guide
Course Introduction
Introduction to Data Analytics provides students with foundational knowledge and practical skills in analyzing and interpreting data to inform decision-making. The course covers core concepts such as data collection, cleaning, exploration, and visualization using modern tools and software. Students will learn techniques for drawing meaningful insights from large datasets, including basic statistical analysis and the use of data dashboards. Through hands-on projects and real-world examples, the course equips learners with the competencies required to solve problems and communicate findings effectively in various professional contexts.
Recommended Textbook
Business Analytics Data Analysis and Decision Making 5th Edition by S. Christian Albright
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20 Chapters
1051 Verified Questions
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Page 2
Chapter 1: Introduction to Data Analysis and Decision Making
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30 Verified Questions
30 Flashcards
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Sample Questions
Q1) Data analysis includes
A) data description
B) data inference
C) the search for relationships in data
D) All of these options
Answer: D
Q2) The decision-making concepts covered in Data Analysis & Decision Making book include which of the following?
A) Optimization techniques
B) Decision analysis with uncertainty
C) Structured sensitivity analysis
D) All of these options
Answer: D
Q3) When we use simulation models to help make decisions,we do not deal with uncertainty at all,since we often must make inferences from the simulated data.
A)True
B)False
Answer: False
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Chapter 2: Describing the Distribution of a Single Variable
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Sample Questions
Q1) Researchers may gain insight into the characteristics of a population by examining a A) mathematical model describing the population
B) sample of the population
C) description of the population
D) replica
Answer: B
Q2) The mean is a measure of central tendency.
A)True
B)False
Answer: True
Q3) As a graphical tool,the histogram is ideal for showing whether the distribution of a numerical variable is symmetric or skewed.
A)True
B)False
Answer: True
Q4) Age,height,and weight are examples of numerical data.
A)True
B)False
Answer: True
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Chapter 3: Finding Relationships Among Variables
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Sample Questions
Q1) Statisticians often refer to the pivot tables that display counts as contingency tables or crosstabs.
A)True
B)False
Answer: True
Q2) Changing the location of fields in a pivot table is known as A) slicing
B) dicing
C) sorting
D) pivoting Answer: D
Q3) The four areas of a pivot table are
A) Crosstabs,Fields,Rows,Columns
B) Data,Count,Contingency,Percentage
C) Filters,Rows,Columns,Values
D) Sort,Rows,Columns,Count
Answer: C
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Chapter 4: Probability and Probability Distributions
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Sample Questions
Q1) Given that events A and B are independent and that P(A)= 0.8 and P(B/A)= 0.4,then P(A and B)= 0.32.
A)True
B)False
Q2) Two or more events are said to be exhaustive if one of them must occur.
A)True
B)False
Q3) If two events are collectively exhaustive,what is the probability that one or the other occurs?
A) 0.25
B) 0.50
C) 1.00
D) Cannot be determined from the information given.
Q4) If events A and B are mutually exclusive,then the probability of both events occurring simultaneously is equal to
A) 0.0
B) 0.5
C) 1.0
D) any value between 0.5 and 1.0
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Chapter 5: Normal, Binomial, Poisson, and Exponential
Distributions
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Sample Questions
Q1) The Poisson distribution is characterized by a single parameter \(\lambda\),which must be positive.
A)True
B)False
Q2) We assume that the outcomes of successive trials in a binomial experiment are:
A) probabilistically independent
B) probabilistically dependent
C) identical from trial to trial
D) random number between 0 and 1
Q3) The mean \(\mu\)
Of a probability distribution is a:
A) measure of variability of the distribution
B) measure of central location
C) measure of relative likelihood
D) measure of skewness of the distribution
Q4) The number of loan defaults per month at a bank is Poisson distributed.
A)True
B)False
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Chapter 6: Decision Making Under Uncertainty
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Sample Questions
Q1) Bayes' Rule is useful for?
A) Value of Sample Information
B) Value of Perfect Information
C) Sensitivity Analysis
D) All of these options
E) None of these options
Q2) The expected value of perfect information (EVPI)is the difference between the EMV with perfect information and the EMV with no additional information.
A)True
B)False
Q3) Which of these sensitivity analysis charts is most useful in determining whether the optimal decision changes over the range of the input variable?
A) Strategy region chart
B) Tornado chart
C) Spider chart
D) All of these options
E) None of these options
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Chapter 7: Sampling and Sampling Distributions
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Sample Questions
Q1) The reason the Central Limit Theorem (CLT)is such an important result in statistics is because:
A) The CLT allows us to assume that the population distribution is approximately normal,provided n is reasonably large
B) The CLT allows us to estimate the population mean without knowing the exact form of the population distribution,provided n is reasonably large
C) The CLT allows us to construct confidence intervals for the population mean without knowing the exact form of the population distribution,provided n is reasonably large
D) All of these options
Q2) When a portion of the sample does not respond to the survey,results.
A) measurement error
B) nonresponse bias
C) sampling error
D) systematic failure
E) nonlinear error
Q3) Ideally,we prefer estimates that have large standard errors.
A)True
B)False
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9
Chapter 8: Confidence Interval Estimation
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Sample Questions
Q1) The lower limit of the 95% confidence interval for the population proportion p,given that n = 300;and \(\hat { p }\) = 0.10 is 0.1339.
A)True
B)False
Q2) If you decrease the confidence level,the confidence interval . A) decreases B) increases C) stays the same D) may increase or decrease,depending on the sample data
Q3) The approximate standard error of the point estimate of the population total is \(N s / \sqrt { n }\) .
A)True B)False
Q4) In general,increasing the confidence level will narrow the confidence interval,and decreasing the confidence level widens the interval.
A)True
B)False
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Chapter 9: Hypothesis Testing
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Sample Questions
Q1) A type II error occurs when:
A) the null hypothesis is incorrectly accepted when it is false
B) the null hypothesis is incorrectly rejected when it is true
C) the sample mean differs from the population mean
D) the test is biased
Q2) A null hypothesis is a statement about the value of a population parameter.It is usually the current thinking,or "status quo".
A)True
B)False
Q3) A null hypothesis can only be rejected at the 5% significance level if and only if:
A) a 95% confidence interval includes the hypothesized value of the parameter
B) a 95% confidence interval does not include the hypothesized value of the parameter
C) the null hypothesis is biased
D) the null hypotheses includes sampling error
Q4) The rejection region is the set of sample data that leads to the rejection of the alternative hypothesis.
A)True
B)False
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11
Chapter 10: Regression Analysis: Estimating Relationships
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Sample Questions
Q1) Given the least squares regression line, \(\hat { Y } = 8 - 3 X\)
A) the relationship between X and Y is positive
B) the relationship between X and Y is negative
C) as X increases,so does Y
D) as X decreases,so does Y
E) there is no relationship between X and Y
Q2) The standard error of the estimate ( \(s _ { e }\)
)is essentially the
A) mean of the residuals
B) standard deviation of the residuals
C) mean of the explanatory variable
D) standard deviation of the explanatory variable
Q3) Outliers are observations that
A) lie outside the sample
B) render the study useless
C) lie outside the typical pattern of points on a scatterplot
D) disrupt the entire linear trend
Q4) The least squares line is the line that minimizes the sum of the residuals.
A)True
B)False
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Chapter 11: Regression Analysis: Statistical Inference
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69 Flashcards
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Sample Questions
Q1) When determining whether to include or exclude a variable in regression analysis,if the p-value associated with the variable's t-value is above some accepted significance value,such as 0.05,then the variable:
A) is a candidate for inclusion
B) is a candidate for exclusion
C) is redundant
D) not fit the guidelines of parsimony
Q2) In order to estimate with 90% confidence a particular value of Y for a given value of X in a simple linear regression problem,a random sample of 20 observations is taken.The appropriate t-value that would be used is 1.734.
A)True
B)False
Q3) One method of diagnosing heteroscedasticity is to plot the residuals against the predicted values of Y,then look for a change in the spread of the plotted values.
A)True
B)False
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13
Chapter 12: Time Series Analysis and Forecasting
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75 Flashcards
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Sample Questions
Q1) We compare the percent of variation explained R<sup>2</sup> for a regression model with seasonal dummy variables to the MAPE for the smoothing model with seasonality to see which model is more accurate.
A)True
B)False
Q2) The moving average method is perhaps the simplest and one of the most frequently-used extrapolation methods.
A)True
B)False
Q3) If the span of a moving average is large - say,12 months - then few observations go into each average,and extreme values have relatively large effect on the forecasts.
A)True
B)False
Q4) A time series is any variable that is measured over time in sequential order.
A)True
B)False
Q5) Seasonal variations will not be present in a deseasonalized time series.
A)True
B)False
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Chapter 13: Introduction to Optimization Modeling
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Sample Questions
Q1) Infeasibility refers to the situation in which there are no feasible solutions to the LP model
A)True
B)False
Q2) Nonbinding constraints will always have slack,which is the difference between the two sides of the inequality in the constraint equation.
A)True
B)False
Q3) When formulating a linear programming spreadsheet model,we specify the constraints in a Solver dialog box,since Excel does not show the constraints directly.
A)True
B)False
Q4) Linear programming is a subset of a larger class of models called:
A) mathematical programming models
B) mathematical optimality models
C) linear regression models
D) linear simplex model
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15
Chapter 14: Optimization Models
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Sample Questions
Q1) In a minimum cost network flow model,the flow balance constraint for each demand node takes the form
A) Flow out
\(\geq\) Flow in + Net supply
B) Flow in
\(\geq\) Flow out + Net demand
C) Flow in = Flow out
D) Flow in
\(\leq\) Flow out + Net demand
E) Flow out
\(\leq\) Flow in + Net demand
Q2) Many of the most successful applications of optimization in the real world have been in the areas of scheduling,blending,logistics and aggregate planning.
A)True
B)False
Q3) In transportation problems,shipments between supply points or between demand points are possible.
A)True
B)False
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Page 16
Chapter 15: Introduction to Simulation Modeling
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Sample Questions
Q1) Which of the following statements are true?
A) A probability distribution is symmetric (around some point)if the distribution to the left of the point is a mirror image of the distribution to the right of the point.
B) We say a distribution is skewed to the right (or positively skewed)if the "longer tail" is the right tail.
C) We say a distribution is skewed to the left (or negatively skewed)if the "longer tail" is the left tail.
D) All of the above
Q2) Which of the following statements is (are)false regarding the numbers generated by the RAND function in Excel?
A) Approximately 10% of the numbers will be between 0.0 and 1.0
B) Approximately 20% of the numbers will be between 0.50 and 0.70
C) Approximately 40% of the numbers will be between 0.20 and 0.60
D) Approximately 60% of the numbers will be between 0.15 and 0.75
E) All of these options are false
Q3) The flaw of averages is the reason deterministic models can be very misleading. A)True
B)False
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17
Chapter 16: Simulation Models
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Sample Questions
Q1) Which simulation yields the largest median NPV?
In this example we are estimating the net present value of introducing a new drug to market.We have the following information about the market:
· The market size is 1,000,000 and is projected to grow at an average 5%,with a standard deviation of 1%,over the next ten years.
· The market share captured at entry is projected to be between 20% and 70%,with most likely value 40%.
· Three competitors may enter the market in the future,with each one having a 40% probability of entry per year.
· For each new competitor per year,the market share goes down by 20%.
· The marginal profit per unit is $1.80.
· We want to evaluate the project over ten years,using a discount rate of 10%.
Q2) A marketing simulation model can be used to determine the expected profit under uncertain customer loyalty,and then we can use an optimization model to determine the optimal amount to spend on increasing customer loyalty.
A)True
B)False
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Page 18
Chapter 17: Data Mining
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Sample Questions
Q1) In a facts table,a supermarket database is likely to have which item listed in rows?
A) The number of units sold
B) Revenue generated from a particular unit
C) The department in which the unit was purchased
D) The individual items purchased
Q2) Bridget has partitioned data into two subsets.The original file contains 300,000 observations.The subset she is currently working with has 60,000 observations.Which subset is she most likely to be using?
A) The training set
B) The original set
C) The testing set
D) The prediction set
Q3) Clustering is considered a supervised data mining technique.
A)True
B)False
Q4) A data mart is typically smaller than a data warehouse.
A)True
B)False
Q5) What does the pivot table indicate about spending habits?
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Chapter 18: Importing Data Into Excel
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Sample Questions
Q1) If you had imported the data using 'fixed width,' how would the output have changed?
Q2) The data in the accompanying figure was imported using 'Text Import Wizard.' Give an explanation for the '99999' value in the Tax column.What recommendation would you make as to how to deal with this value?
Q3) The data in the accompanying figure was imported using "Text Import Wizard." How did the first three rows of text data appear in the text file prior to importing?
Q4) A primary key contains a unique,specific value that is not duplicated through any instances within that field.
A)True
B)False
Q5) Delimiter characters include:
A) dollar signs and a hard return symbol
B) the word "delimiter"
C) a tab,space,or comma
D) a hard return symbol
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Chapter 19: Analysis of Variance and Experimental Design
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Sample Questions
Q1) Jeremiah is testing the impact of different fertilizers on crop yields.Six different fertilizers have been applied to one field.Suppose he uses an ANOVA to test whether or not there are differences in yields.How many treatments are in this test?
A) zero
B) one
C) five
D) six
Q2) Interactions:
A) indicate patterns of differences in means that could not be guessed from the main effects alone
B) occur only in one-way ANOVA tests
C) occur when the effect of one factor on the dependent variable is independent of the level of other factors
D) indicate the effect of one factor on the dependent variable is the same regardless of the level of the other factors
Q3) What is the logical next step once Mook Corp.has identified that workers attending different training programs have different productivity levels?
Q4) What does the ANOVA output in the accompanying figure indicate?
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Chapter 20: Statistical Process Control
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Sample Questions
Q1) Which of the following are attributes charts?
A) p chart,
\(x\) chart,and u chart
B) p chart,
\(X\) chart,and u chart
C) p chart,c chart,and u chart
D) p chart,c chart,and R chart
Q2) Morgan is now using a smaller sample size,but she has forgotten to adjust the upper and lower limits to reflect the smaller sample size.What is likely to occur as she manually plots observations on the chart?
Q3) Jean is examining variation on a control chart.One of the machines was misaligned and is operated by an inexperienced worker.The variation caused by these factors is caused by ____.
A) assignable causes
B) in statistical control causes
C) common causes
D) in control causes
Q4) "Tampering" can actually make a system worse.
A)True
B)False
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