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CORe HBS Business Analytics Final exam questions and answers.
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CORe HBSBusiness
Analytics Final
exam questions
and answers
histogram
this graph x-axis represents bins
corresponding to ranges of data; its y-axis
indicates the frequency of observations
falling into each bin.
outlier
value that falls far from the rest of the data.-
We should always carefully investigate an
outlier before deciding whether to leave it as
is, change its value
to the correct value, or remove it.
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scatter plot
graphing two variables like this can reveal
relationships between two variables (two
data sets).
- Although there may be a relationship
between two variables, we cannot conclude
that one variable "causes" the other. This
point is best summarized in the admonition,
"correlation does not imply causation."
hidden variables
, which may be responsible for patterns we
see when graphing or examining
relationships between two data sets.
descriptive statistics
aka also known as summary statistics
mean, median
mode
mean, median, mode
3 values describe the center or central
tendency of the data set
mean
is equal to sum of all data points in the set
divided by the number of data points
median
the middle value of the data set: half of the
data set's values lie below the median, and
half lie above the median.
mode
the value that occurs most frequently in the
data set. A data set may have multiple
modes.
range, variance, standard deviation
measure the spread of the data
standard deviation
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