BUS 421 Chapter 8-15 Questions
Which is true about designing A/B tests to extract maximum meaning? -A should always be the control -A and B should have different content except for the hypothesized elements -A and B should have identical content except for the hypothesized elements -A and B should have two levels each
A and B should have identical content except for the hypothesized elements
Which of the following is NOT an A/B Testing tool? -AB Tasty -Qubit -Google Experiments -AB Lab
AB Lab
Which is NOT true? -AI algorithms can help companies to find new channels that competitors may not have yet discovered -AI can build new websites from the ground up -AI algorithms can improve marketing performance by testing ad platforms -AI algorithms can optimize the targeting of key audiences
AI can build new websites from the ground up
What is the name of an AI application for marketing in use today? -Fred -Francis -Alice -Albert
Albert
What is the most used form of artificial intelligence? -Prototypical AI -Applied AI -Neurological AI -General AI
Applied AI
Which is not a commercial data visualization tool? -Power BI -ESRI Business Analyst -Excel -Tablot
Tablot
Which of these refers to systems that are designated to work on specific tasks? -artificial intelligence -applied intelligence -general intelligence -assisted intelligence
applied intelligence
Which of the following is a graph that displays information as a scatter plot with an additional dimension of quantitative data represented by changing the size of the dot? -Gentt chart -scatter plot -area chart -bubble chart
bubble chart
Sales=37.69+1.23*TVads. If you spend $2387 on TV advertising, your best guess at sales is -closer to $3000 -over $4000 -closer to $2000 -closer to $1000
closer to $3000
Which algorithm does not use supervised learning? -decision tree -regression -cluster analysis -classification
cluster analysis
Which is NOT a key analytics tools for A/B testing? -t-test -ANOVA -Bayesian statistical test -cluster analysis
cluster analysis
Field experiments are -conducted in a natural setting -conducted only in an outdoor setting -conducted by practitioners in the field of concern -conducted only in the digital world
conducted in a natural setting
A/B tests are... -more similar to lab experiments than field experiments -never field experiments -not truly experiments -controlled experiments
controlled experiments
What is not a valid transformation? -log(y) (natural logarithm-ln) -y^2 (squared) -e^y (exponential) -cos(y) (cosign of y)
cos(y) (cosign of y)
Which step requires marketers to analyze web traffic patters and to study ways to optimize websites to drive more conversations? -design -evaluation -analysis -implementation
design
Which measures the company's ability to leverage competitive advantage and product or service progress? -strategic metrics support metrics development metrics digital marketing metrics -digital marketing metrics -support metrics -development metrics
development metrics
Which of the following is not measured by innovation metrics? -major and minor enhancements -development speed -next generation products -corrections
development speed
Which A/B testing stage typically uses a larger portion of the potential audience? -experimental stage -Bandit stage -exploitation stage -exploration stage
exploitation stage
When preparing for data visualization, one should start by -getting to know the audience -deciding between visualization tools -creating some simple graphs -accessing the data
getting to know the audience
Food4Less is a known brand, but many people do not visit its stores because they don't see it as a viable option for some types of food items that are readily available at Trader Joes. What does this infer about the brand metrics for Food4Less? -good depth but less breadth -good breadth but less depth -good breadth, recall and depth -good recall but less depth
good depth but less breadth
What is a Type 2 error? -incorrect rejection of a false hypothesis -correct rejection of a false hypothesis -correct rejection of a true hypothesis -incorrect rejection of a true hypothesis
incorrect rejection of a false hypothesis
What is a Type 1 error? -incorrect rejection of a true hypothesis -correct rejection of a false hypothesis -correct rejection of a true hypothesis -incorrect rejection of a false hypothesis
incorrect rejection of a true hypothesis
Which is FALSE about marketing analytics metrics? -they are used to track the status of a marketing process -it is easy to track the important metrics -they help bring meaning to data -metrics are quantifiable measures
it is easy to track the important metrics
Which of the following is true about the After-Only Experimental Design? -it satisfies only one condition for causality -it satisfies some conditions for causality -it satisfies all conditions for causality -it satisfies no conditions for causality
it satisfies some conditions for causality
Radar charts are graphs that display information as a ___ or ___, with many axes representing more than two variables in the data -column chart or line chart -line chart or area chart -area chart of pie chart -pie chart or line chart
line chart or area chart
Which chart is best used for time series data? -heat map -area map -line graph -bar chart
line graph
What is contrast resolution? -answers long af 13.7
linear combination of variables whose coefficients add up to zero, allowing comparison of different means among experimental conditions
Which application of AI allows systems to automatically learn and improve without being programmed to do? -programmed learning -adaptive learning -deep learning -machine learning
machine learning
What is the objective of least square regression? -maximize the square of the regression -minimize the sum of squared residuals -minimize the square of the regression -maximize the sum of squared residuals
minimize the sum of squared residuals
Which is the objective of least square regression? -minimize the sum of squared residuals -maximize the sum of squared residuals -minimize the square of the regression -maximize the square of the regression
minimize the sum of squared residuals
Consider the following scenario. All chain restaurants had to put calories on their menus in the US by December 2016. Researchers measured receipts the month before and the month after this happened to test whether calories on the menus effectively reduced overall calories consumption and/or reduced restaurant sales. This was an example of what kind of study? -randomized lab experiment -natural lab experiment -randomized lab experiment -natural field experiment
natural field experiment
A company called Beyhive launched a promotional campaign and wants to know if it was effective. Which of the following pieces of evidence does NOT support a conclusion that Beyhive promotional campaign caused an increase in sales? -launching the marketing campaign is followed by increases in Beyhive sales -none of these options -launching the Beyhive promotional campaign today corresponds to Beyhive sales in later time periods -no Marketing campaign is followed by no change in Beyhive sales
none of these options
Which of these does swarm intelligence do? -surveys -all of these options -polls -none of these options
none of these options
What is a standard deviation? -number indicating the extent to which distinct outliers deviate from the group -a measure of the statistical accuracy of an estimate -number indication the extent to which individual results deviate from the group -theoretical distribution of a large population
number indicating the extent to which individual results deviate from the group.
Which is considered the gold standard for determining causal inference? -field experiments -natural experiments -randomized experiments -interactive designs
randomized experiments
Which is FALSE about Bayesian statistics? -require fixed horizons -apply past evidence to statistical models -invented by minister -use prior beliefs to influence statistical models
require fixed horizons
What is a false positive for A/B testing? -answers are long as ****, question 13.3
results of the exploration stage lead to the belief that one of the options A or B is more successful than the other, when in reality they are likely to perform the same in the exploitation stage
What is a false negative for A/B testing? -answers are long as ****, question 13.4
results of the exploration stage lead to the belief that options A or B do not differ in their success, when in reality one is likely to outperform the other in the exploitation stage
What is return on marketing investment? -difference of revenue from marketing and marketing spending divided by marketing spending -difference of revenue from marketing and marketing spending -revenue from marketing multiplied by marketing spending divided by contribution margin -revenue from marketing multiplied by the contribution margin divided by marketing spending
revenue from marketing multiplied by the contribution margin divided by marketing spending
Which is not necessarily a part of analyzing metrics? -tracking data -benchmarking -analyzing performance -running statistical analyses
running statistical analyses
Return on marketing investment is what type of marketing analytics metric? -quality -development -strategic -support
strategic
Which type of metrics are used to fulfill important operational and financial functions in an organization? -innovation metrics -quality metrics -responsive metrics -strategic metrics
strategic metrics
Brands use which type of metrics for campaign performance? -support metrics -development metrics -strategic metrics -STP metric
support metrics
The residual is... -the response value that would be predicted for a given x value, based on the model -the sum of the response value observed for a particular point and the response value that would be predicted for a given x value based on the model -the difference between the response value observed for a particular data point and the response value that would be predicted for a given x value based on the model -the response value observed for a particular data point
the difference between the response value observed for a particular data point and the response value that would be predicted for a given x value based on the model
What is statistical significance? -the probability that a statistical test will support the null hypothesis given that it is true -the importance of statistical problem -the measure of whether a research finding is meaningful because it is unlikely the finding has occurred by chance or error -the probability that a statistical test will support the null hypothesis given that is false
the measure of whether a research finding is meaningful because it is unlikely the finding has occurred by chance or error
The predicted response value... -the response value that would be predicted for a given x value, based on the model -the response value observed for a particular data point -the sum of the response value observed for a particular data point and the response value that would be predicted for a given x value based on the model -the difference between the response value observed for a particular data point and the response value that would be predicted for a given x value based on the model
the response value that would be predicted for a given x value, based on the model
When using region of the country (four regions: Northeast, South, Midwest, West) to predict sales in a regression model, how many dichotomous variables will be included? -two -one -four -three
three
What is NOT included in an infographic? -stats -pictures -word charts -video
video
Which of the following is a graph that displays information as a bar chart illustrating a project schedule? -Gintt chart -Gentt chart -Gantt chart -Gauntt chart
Gantt chart
Which is true of a bandit test? -It has an adaptive exploitation stage -It is an A/B Testing with a hidden exploration stage -It is an A/B Test but with an extra hostage stage -It removes people from the exploitation stage
It has an adaptive exploitation stage
What is the difference between machine learning and deep learning? -deep learning is the same as machine learning -machine learning uses neural networks and deep learning does not -none of these options -deep learning utilizes statistical data and machine learning does not
-none of these options
Consider that a company wants to run an experiment to see which of four advertisements is most effective for a new product presented with five distinct price points. People are randomly assigned to see one of the four advertisements and one of the five price points. How many factors are part of this design? -2 -9 -20 -1
2
A model including the interaction of two independent variables yields how many beta coefficients including the intercept of b0? -4 -6 -5 -3
4
Which is true? -A/B Testing is only done for direct mail -A/B Testing is often done in brick and mortar stores -A/B Testing is only done for websites and email -A/B Testing is only done in a digital environment
A/B Testing is only done in a digital environment
What is the problem of "local maxima"? -A/B Tests fail to test conditions that will optimize the company's local concerns -A/B Tests fail to maximize the exploitation stage -A/B Tests fail to test conditions that may have better outcomes -A/B Tests fail to attract local participants
A/B Tests fail to test conditions that may have better outcomes
Which statement is false? -A/B Tests are often run as part of a live marketing effort -A/B Tests=Split Tests -A/B Tests are often automated -A/B Tests=real marketing firms' brick and mortar store experiments
A/B Tests=real marketing firms' brick and mortar store experiments
According to the book, what is the most used tool for creating analyzing and presenting data visually? -Tableau -Power BI -Excel -R
Excel
Power Map is which of the following? -Tableau's tree mapping tool -Excel's geographic mapping tool -GIS in Power BI -R's heat mapping tool
Excel's geographic mapping tool
Which of the following is NOT an A/B Test? -Controlled experiment in the digital world -A/B/N Test -Optimize Test -Split Test
Optimize Test
What is true? -People often use A/B tests to test competing marketing ideas in a department -A/B Testing is not a time to try crazy ideas -Protect your A/B test from too much input from other department in the company -The value gained from A/B testing usually outweighs potentially frustrating customers
People often use A/B tests to test competing marketing ideas in the department
Which visualization tool is open source? -Excel -R -Power BI -ArcGIS
R
Which of the following is not necessary to determine that a marketing campaign causes an increase in sales? -We find that there are other external factors that affect sales but not the marketing campaign -We find that when we don't launch a marketing campaign, there is no change in sales -We find that when we launch a marketing campaign, there is an increase in sales -We find that when we launch a marketing campaign, it increases sales later
We find that there are other external factors that affect sales but not the marketing campaign
What is a fixed horizon in A/B testing? -an end-point time to analyzing the data -a concrete explanation of the results of an A/B test -a final goal of the A/B test -an end-point time to collecting the data
an end-point time to collecting the data
Consider the before-and-after experimental design. Which of the following is TRUE? -an advantage of this design is that there is no pre-test bias -an advantage of this design is that it is possible to reduce post-test bias -a disadvantage of this design is that there is pre-test bias -an advantage of this design is that it is possible to measure pre-test bias
a disadvantage of this design is that there is pre-test bias
In a deep neuron network, a neuron is? -an artificial storage cell -a cell impulse -a function -a nerve cell
a function
An example of a randomized, controlled experiment which not an A/B Test is -a quasiexperiment in the digital world -a field experiment in the digital world -a natural experiment in the non-digital world -a laboratory experiment in the non-digital world
a laboratory experiment in the non-digital world
A linear model... -always predicts a straight line -sometimes predicts a straight line and sometimes a curved line -usually predicts a straight line -always predicts a curved line
always predicts a straight line
Consider the after-only experimental design. Which of the following is TRUE? -a disadvantage of this design is that there is no pre-test bias -an advantage of this design is that it is possible to measure pre-test bias -an advantage of this design is that it is possible to reduce post-test bias -an advantage of this design is that there is no pre-test bias
an advantage of this design is that there is no pre-test bias
What are the two categories of AI? -assisted and general -assisted and narrow -applied and narrow -applied and general
applied and general
