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HBX CORE FINAL EXAM 2024/2025 Questions With Completed & Verified Solutions.
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HBX CORE FINAL EXAM 2024/2025 Questions With Completed & Verified Solutions.
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HBX CORE FINAL EXAMA/B Test - ANS 1) An experiment that compares the value of a dependent variable (ex =
likelihood that a website visitor purchases an item) across two different groups (control group
and treatment group). Members of each group must be RANDOMLY SELECTED to ensure that
the only difference between the groups is the "MANIPULATED" independent variable (ex = size
of the font on two otherwise identical websites)...a hypothesis test that tests whether the means
of the dependent variable are the same across the two groups; also used to test whether
another parameter - ex = standard deviation - is the same across two groups
Adjusted R-Squared - ANS Measure of explanatory power of a regression analysis. Adjusted R
squared = R-squared*adjustment factor that decreases slightly as each independent variable is
added to the regression model. Adjusted R-squared DROPS when a new independent variable
is added that does not improve the model's true explanatory power (vs. R-squared which never
decreases when a new independent variable is added to a regression model). Adjusted
R-Squared should always be used when comparing the explanatory power of regression models
that have different numbers of independent variables.
Alternative Hypothesis - ANS Theory or claim we are trying to substantiate and stated as
OPPOSITE OF A NULL HYPOTHESIS. When data allow us to nullify the null hypothesis, we
substantiate the alternative hypothesis.
Asymmetric Distribution - ANS Probability distribution that is not symmetric AROUND THE
MEAN
Average/Mean - ANS For a distribution with discrete values, mean = values of all data points in
the set / number of data points
Base Case - ANS Category of categorical variable for which a dummy variable is NOT included
in a regression model. A regression model with a categorical variable that has n categories
should have n-1 dummy variables. The coefficients of the dummy variables included in the
regression model are interpreted in relation to the base case. The analyst can select any
category to be excluded from the regression model; however, different base cases lead to
different interpretations of the dummy variables' coefficients. Ex: Suppose we are trying to
determine the average difference in height between men and women in a sample, and suppose
that on average men are 5 inches taller than women in the sample. If we use Female as the
base case then the coefficient for the dummy variable for Male would be +5. If we use Male as
the base case, the coefficient for the dummy variable for Female would be -5.
Bias - ANS Tendency of a measurement process to over or under-estimate the value of a
population parameter. Although a sample statistic will almost always differ from the population
parameter, for an unbiased sample, the difference will be random. For a biased sample, the
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