MIS 345 Quizes

Which correlation coefficient suggests the strongest relationship?

+1

If the mean is 75 and two observations have values of 65 and 85, what is the squared deviation of each?

100

Which statement is not true?

Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.

If the standard deviation of X is 15, the covariance of X and Y is 94.5, and the correlation is 0.90, then the variance of Y is 7.0.

False

The cutoff for defining a large correlation is 0.5.

False

The stages of the cross-industry standard process for data mining framework begins with data modeling

False

We cannot attempt to interpret correlations numerically, with the one possible exception of indicating whether they are positive or negative.

False

Researchers may try to gain insight into the characteristics of a population by examining a(n) _____ of the population.

Sample

The following are types of analytics except

Time series analytics

@Risk is an Excel® add-in that can be used to run replications of a simulation, keep track of outputs, create useful charts, and perform sensitivity analyses.

True

A distribution of a numerical variable with no skewness is said to be symmetric.

True

An example of a joint category of two variables is the count of all non-drinkers who are also nonsmokers.

True

Both ordinal and nominal variables are categorical.

True

Side-by-side box plots allow you to quickly see how two or more categories of a numerical variable compare.

True

The only meaningful way to summarize categorical data is with counts of observations in the categories.

True

The scatterplot is a graphical technique used to indicate the relationship between two numerical variables.

True

Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis, decision-making, and dealing with uncertainty.

True

​Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.

True

Displaying all correlations between 0.6 and 0.999 on a scatterplot as green and all correlations between -1.0 and -0.6 as red is known as:

conditional formatting

What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?

data mining

One characteristic of "paired variables" is that:

each variable has the same number of observations

The length of the box in the box plot portrays the:

interquartile range

What measure of distribution relates to extreme events, such as a stock market crash?

kurtosis

Which of the following would not be included under data analysis?

measuring uncertainty

Expressed in percentiles, the interquartile range is the difference between the:

the 25th and 75th percentile

How is the median defined if the number of observations is even?

the average of the two middle observations

A line or curve superimposed on a scatterplot to quantify an apparent relationship is known as a(n):

trend line