business analysis
Below is a histogram for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. What is the relative frequency of the 21-24 bin?
0.25
In the probability table below, which value is a marginal probability? Completed Obstacle Course Level NoYesTotal Challenging 0.4 0.3 0.7 Easy 0.1 0.2 0.3 Total 0.5 0.5 1.0
0.5
This Excel bar chart displays the demographics of a Business Analysis class. Approximately how many students are in the class?
130
Whatisthe mode of the data set given below? 35, 47, 65, 47, 22
47
The random variable X is known to be uniformly distributed between 2 and 12. Compute E(X), the expected value of the distribution.
7
Which of the following best exemplifies big data?
Cellphone owners around the world generate vast amounts of data by calling, texting, tweeting, and browsing the Web on a daily basis.
__________ are visual methods of displaying data.
Charts
Which of the following is not an approach to making decisions?
Guess and check
__________ is the most critical step of the decision-making process.
Identifying and defining the problem
Which statement is true about mutually exclusive events?
If events A and B cannot occur at the same time, they are called mutually exclusive.
Which Excel command will return all modes when more than one mode exists?
MODE.MULT
In a normal distribution, which is greater, the mean or the median?
Neither the mean nor the median (they are equal)
Which of the following are necessary to be determined to define the classes for a frequency distribution with quantitative data?
Number of nonoverlapping bins, width of each bin, and bin limits
Two events are independent if _____.
P(A | B) = P(A) or P(B | A) = P(B)
To summarize and analyze data with both a crosstabulation and charting, Excel typically pairs
PivotCharts with PivotTables
Which one of the following statements is not true concerning PivotTables in Excel?
PivotTables can be built using data arrayed in rows
The _____ probability distribution can be used to estimate the number of vehicles that go through an intersection during the lunch hour.
Poisson
Which of the following gives the proportion of items in each bin?
Relative frequency
Susan would like to create a graph to display the number of males and females in her class who got an A, B, C, D, and F on the last test. Which of the following graphs could she use?
Stacked-column chart
Which of the following statements is correct?
The binomial distribution is a discrete probability distribution and the normal distribution is a continuous probability distribution.
One of the 4 Vs of big data that refers to uncertainty due to data inconsistency and incompleteness, ambiguities, latency, deception, and model approximations is _________.
Veracity
The correlation coefficient will always take values
between -1 and +1
In order to visualize three variables in a two-dimensional graph, we use a
bubble chart
An experiment consists of determining the speed of automobiles on a highway by the use of radar equipment. The random variable in this experiment is a _____.
continuous random variable
Data dashboards are a type of _________ analytics.
descriptive
A variable that can only take on specific numeric values is called a _____.
discrete random variable
Fields may be chosen to represent all of the following except ____________ in the body of a PivotTable.
filters
Deleting the grid lines in a table and the horizontal lines in a chart
increases the data-ink ratio
Data-ink is the ink used in a table or chart that
is necessary to convey the meaning of the data to the audience
In a business, the values indicating the business's current operating characteristics, such as its financial position, the inventory on hand, and customer service metrics, are typically known as
key performance indicators
Probability is the _____.
numerical measure of the likelihood that an event will occur
A set of values corresponding to a set of variables is defined as a
observation
Making visual comparisons between categorical variables may be difficult in a
pie chart
An initial estimate of the probabilities of events is a _____ probability.
prior
A _____ describes the range and relative likelihood of all possible values for a random variable.
probability distribution for a random variable
A joint probability is the _____.
probability of the intersection of two events
The act of collecting data that are representative of the population data is called
random sampling
In many cases, white space in a chart can improve
readability
When working with large spreadsheets with many rows of data, it can be helpful to __________ the data to better find, view, or manage subsets of data.
sort and filter
Sample space is _____.
the collection of all possible outcomes
All the events in the sample space that are not part of the specified event are called _____.
the complement of the event
Tables should be used instead of charts when
the values being displayed have different units or very different magnitudes
All of the following are examples of discrete random variables except _____.
time
Data collected from several entities over a period of time (minutes, hours, days, etc.) are called
time series data
The event containing the outcomes belonging to A or B or both is the _____ of A and B.
union
A quantity of interest that can take on different values is known as a
variable
The difference in a variable measured over observations (time, customers, items, etc.) is known as
variation
