HBX Core Business Analytics - Full Set Questions + Answers Graded A+
11 views 0 purchase
Course
HBX Core Business Analytics - Full Set
Institution
HBX Core Business Analytics - Full Set
multimodal - ️️If a data set has more than one value with the highest frequency,
that data set has more than one mode. A distribution is called bimodal if it has two
clearly defined peaks (two points with very high frequency).
What is the Multiple R value in a Regression Analysis? - ️️Fo...
HBX Core Business Analytics - Full Set
multimodal - ✔️✔️If a data set has more than one value with the highest frequency,
that data set has more than one mode. A distribution is called bimodal if it has two
clearly defined peaks (two points with very high frequency).
What is the Multiple R value in a Regression Analysis? - ✔️✔️For a single variable
linear regression, Multiple R, which is the square root of R², is equivalent to the absolute
value of the correlation coefficient.
Time series - ✔️✔️time series—a data set in which one of the variables is time
Rules of thumb for the normal distribution - ✔️✔️About 68% of the probability is
contained in the range reaching one standard deviation away from the mean on either
side:
P(μ−σ≤x≤μ+σ)≈68%
About 95% of the probability is contained in the range reaching two standard deviations
(1.96 to be exact) away from the mean on either side:
P(μ−2σ≤x≤μ+2σ)≈95%
We'll use two standard deviations when discussing the normal distribution conceptually,
but we will always use 1.96 for actual calculations in Excel.
About 99.7% of the probability is contained in the range reaching three standard
deviations away from the mean on either side:
P(μ−3σ≤x≤μ+3σ)≈99.7%
Bias - ✔️✔️avoid biased results by
- phrasing questions neutrally
-ensuring that the sampling method is appropriate for the demographic of the target
population
-pursuing a high response rate
Normal Distribution - ✔️✔️a unique symmetrical shape whose centre and width are
determined by its mean and standard deviation respectively.
z-value - ✔️✔️the distance that x lies from the mean, measured in standard deviations.
Central Limit Theorem - ✔️✔️If we take enough sufficiently large samples from any
population, the means of those samples will be normally distributed regardless of the
shape of the underlying population.
, Confidence interval - ✔️✔️An estimate of the range in which the true population mean
likely lies.
Outlier - ✔️✔️Technically, a data point is considered an outlier if it is more than a
specified distance below the lower quartile or above the upper quartile of a data set.
Let's start with a couple of definitions. The lower quartile, Q1, is the 25th percentile—by
definition, 25% of all observations fall below Q1. The upper quartile, Q3, is the 75th
percentile—75% of all observations fall below Q3. The interquartile range (IQR) is the
difference between the upper and lower quartiles, that is, IQR=Q3-Q1.
Histogram - ✔️✔️Histogram, also called a bar chart.
A histogram's x-axis represents bins corresponding to ranges of data; its y-axis
indicates the frequency of observations falling into each bin.
Descriptive Statistic - ✔️✔️Provide a quick overview of a data set without showing
every data point.
Central Tendency - ✔️✔️"central tendency" of a data set—an indication of where the
"center" of the data set lies.
Mean - ✔️✔️Mean (average): The mean is equal to the sum of all of the data points in
a set, divided by n, the number of data points.
Median - ✔️✔️Median: The middle value of a data set. The same number of data
points fall above and below the median.
Mode - ✔️✔️Mode: The value that occurs most frequently in a data set.
Conditional Mean - ✔️✔️The mean of a specific subset of data is known as the
conditional mean, because we are imposing a condition on our data set and we only
want to find the mean of the values that meet that condition.
Skewness - ✔️✔️Skewness measures the degree of a graph's asymmetry. If the right
tail is longer, we say the distribution is skewed to the right or "right-tailed." Likewise, if
the left tail is longer, we say the distribution is skewed to the left or "left-tailed."
Kurtosis - ✔️✔️Kurtosis: a measure of the height and sharpness of a distribution. A flat
distribution has a very low kurtosis; a very peaked distribution has high kurtosis.
Standard Deviation - ✔️✔️The standard deviation describes how much the values in a
single data set vary.The range, variance, and standard deviation measure the spread of
the data.
The standard deviation is equal to the square root of the variance.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
