BUS 421 Chapter 8-15 Questions

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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


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