Advanced Business Analytics Final

Categorical Variable

A bar chart can be used in exploratory data analysis for a ________.

Chronological Order

A common mistake made by novice presenters is to present all the analysis that has been done for a project in the _________.

Single Screen

A data dashboard should present all KPIs related to some aspect of the organizations operations on a _________.

Its KPIs change rapidly

A dynamic dashboard would be appropriate for an organization when ________.

Both a categorical variable and a quantitative variable

A frequency distribution can be created for ________.

Box and Whisker Chart

A graphical summary of the distribution of data developed from the quartile of a set of values is a(n) _________.

Marketing Organization

A measure of variation, that is based on the two extreme values and may reflect an extreme measurement that is not entirely representative of the data set's variation, is easy to understand and compute through the sample __________.

Range

A measure of variation, that is based on the two extreme values and may reflect an extreme measurement that is not entirely representative of the data set's variation, is easy to understand and compute through the sample __________.

Seasonality

A pattern in time series data that recurs periodically over a regular time interval refers to _________.

Illegitimately Missing Data

A respondent dropping out of a study before its completion is an example of ________.

All of these choices are correct

A strategy for reducing unnecessary complexity in a dashboard is _________. -avoiding inclusion of information that will not be useful to end users -organizing the information into subsets that each address a different need of the end users -using interactive dashboard tools -All of these choices are correct

Spurious Relationship

An apparent association between two variables that is not casual, but is coincidental or caused by the third (lurking) variable.

PivotChart

An interactive Excel chart that allows the user to interact with the data by applying filters to select various aspects of the data referred to as a ________.

PivoTable

An interactive Excel crosstablulation that allows the user to interact with the data by applying filters to select various aspects of the data is referred to as a _______.

Goal: to Show Ranking

Based on the following chart types, what is the most appropriate intended goal?

Goal: to Show a Relationship

Based on the following chart types, what is the most appropriate intended goal?

Goal: to show Composition

Based on the following chart types, what is the most appropriate intended goal?

128.75

Calculate the inflation-adjusted price for the year 2014 based on the information given in the following table.

Ethos

Clearly explaining the origin of the data used in the data visualizations and by being open about any assumptions made in the analysis and presenting alternative interpretations when necessary is a way to create what with your audience?

Analytical Dashboards

Dashboards that are typically used by analysts to identify and investigate trends, predict outcome, and discover insights in large volumes of data are referred to as _________.

Strategic Dashboards

Dashboards that are typically used by executives to monitor the status of KPIs' relevant overarching organizational objectives are referred to as _________.

Eliminating all grid lines

Decluttering can be achieved by all of the following EXCEPT: -using a legend to identify color coding -eliminating all grid lines -removing redundant information -decreasing saturation

Data Validation Tool

In Excel, to control what a user can enter into a cell, limiting the ability to create data errors from manual entries, you can use the _________.

MCAR

Missing a data point because a weighing scale ran out of batteries unexpectedly is an example of _________.

Missing at Random (MAR)

Missing data for which the tendency for an observation to be missing a value for a variable is related to the value of some other variable(s) in the observation.

Iconic Memory

Preattentive attributes are those features that can be processed by ________.

3424.3

Quality control is an important issue at a manufacturing company, which manufactures Product Z. To test the lifetime of Product Z, the company randomly sampled nine products and measured how many days they lasted (mean = 346.6). 378, 361, 350, 375, 200, 391, 375, 368, 321 What is the sample variance?

58.5

Quality control is an important issue at a manufacturing company, which manufactures Product Z. To test the lifetime of Product Z, the company randomly sampled nine products and measured how many days they lasted (mean = 346.6). 378, 361, 350, 375, 200, 391, 375, 368, 321 What is the standard deviation?

Dot Matrix Chart

The best way to display information such as unemployment data over time is to use a __________.

Quantitative variable in which the magnitudes of value need to be expressed

The color scheme shown here would be an appropriate choice for a ________.

Variation

The difference in a variable measured over observations is called _______.

Cartogram

The following chart is an example of a ________.

Slope Chart

The following chart shows the enrollment years for different class ranks of a school in the current year and compares them to the previous year. An alternative chart to show this would be a __________.

173.0

The following table contains data for the variable x and has one missing value completely at random. Rather than discarding the observations, estimate the missing value using the median.

Iconic Memory

The most quickly processed form of memory is ________.

Exploratory data analysis

The process of using summary statistics and visualization to gain an understanding of the data, including the identification of patterns refers to _______.

Analyze Tab

To add a slicer to a PivotChart or PivotTable in Excel, access the ________.

A big associated number

To draw the audience's attention to the number of children adopted in the current year, the following chart uses _______.

Message

Understanding well enough to communicate the insights clearly and succinctly best describes knowing your _______.

30.5%

Using the following table, what is the percent of the relative frequency of a silver car being observed?

Select cells where data are contained

What is the first step in creating a scatter chart in Excel?

It gives too much information

What is wrong with the following chart?

0.102

What proportion of the students who rated their instructor as very or one what effective received a C or lower in the class?

Skewed Left

What would be the approximate shape of the following histogram?

Short-Term Memory

When our minds chunk, or group, similar pieces of information together and hold that information for about a minute, this is called _________.

A distinct color for each of its unique groups

When the groups of the categorical variable have no inherent ascending or descending order, the variable is well suited for representation by __________.

Heat Map

Which chart would be suitable for gaining insight on the months and years that had the highest average traveled?

Gestalt Principles

Which of these has to do with how people interpret and perceive what they see?

Labeled axis scales

Which of these is not a poor graphing technique?

Mode

Which of these is the only meaningful measure of the central location for a categorical variable?

Decreasing the temporal frequency

Which of these may reduce the variability shown in a chart, which can be misleading to the audience?