Question

"In Excel, if you had a spreadsheet containing four variables (date, product_type, quantity, and unit_price) and your boss asked you to calculate the total revenue generated by Product A between Thanksgiving and New Years, what formula would you use?"

1. COUNT(()
2. COUNTIFS()
3. SUMIF()
4. SUMIFS()

Question 2

"In regression, what is the best description of a residual?"

Select the correct answer

1. The square of actual values.
2. The predicted values.
3. Error.
4. The sum of the squared difference between the predicted and actual values.

Question 3

"When data is skewed, which statistic best represents the typical value of the data?"

Select the correct answer

1. mean
2. median
3. average
4. None of the above

Question 4

Clustering falls best under which type of analysis?

Select the correct answer

1. descriptive
2. predictive
3. prescriptive
4. None of the above.

Question 5

What type of variable is age?

Select the correct answer

1. ordinal
2. interval
3. categorical
4. continuous

Question 6

What is a distribution?

Select the correct answer

1. A symmetric curve that shows how many observations are in a dataset.
2. A curve that describes the possible values for a variable and how often they occur.
3. A function that describes the number of variables in a dataset.
4. A function that transforms values from one domain to another.

Question 7

What type of plot is best for exploring the correlation between two variables?

Select the correct answer

5. scatterplot
6. barchart
7. line graph
8. bubble chart

Question 8

"In Excel, which formula could be used to merge a column into a dataset?"

Select the correct answer

1. INDEX()
2. HLOOKUP()
3. VLOOKUP()
4. JOIN()

Question 9

Data visualization falls best under which type of analysis?

Select the correct answer

1. descriptive
2. predictive
3. prescriptive
4. None of the above.

Question 10

How do you address multicollinearity?

Select the correct answer

1. Remove one of every two highly correlated IVs
2. Remove all of the highly correlated IVs.
3. Standardize your data to reduce the correlation.
4. Remove the IV.

Question 11

A distribution of a discrete variable is called a histogram.

1. True
2. False

Question 12

Which of the following is true?

Select the correct answer

1. A distribution is always symmetrical.
2. The total area under a distribution curve is always equal to one.
3. Only continuous variables can have distributions.
4. Distributions describe the probability that a variable will take on specific values.
5. Both B and D are correct

Answer 1

Q1)SUMIF()

Q2)Error

As residuals are the difference between any data point and the regression line, they are sometimes called “errors.” Error in this context doesn’t mean that there’s something wrong with the analysis; it just means that there is some unexplained difference. In other words, the residual is the error that isn’t explained by the regression line

Q3)None of the above

shewed means a amount of asymetry presents

Q4)prescriptive analysis

Prescriptive analytics is related to both descriptive and predictive analytics. In practice, prescriptive analytics can continually and automatically process new data to improve the accuracy of predictions and provide better decision options.

Q5)continious

Q6)A curve that describes the possible values for a variable and how often they occur.

The distribution of a statistical data set (or a population) is a listing or function showing all the possible values (or intervals) of the data and how often they occur.

Q7)scatter plot

Correlation is a statistical measure that indicates, whether there is

a relationship between two variables. Correlation measures the strength of the relationship between two variables,

Scatter plots are used to display the relationship between two continuous variables

Q8)In Excel, JOIN() could be used to merge a column into a dataset

Q9)DISCRIPTIVE

Data visualization is the graphic representation of data.

To communicate information clearly and efficiently, data visualization uses statistical graphics, plots, information graphics and other tools.

Q10)Remove all of the highly correlated IVs.

Q11)FALSE

Histogram It is an estimate of the probability distribution of a continuous variable

Q12)The total area under a distribution curve is always equal to one.