HBX Core Business Analytics - Full Study Guide Solutions
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Course
Practice Tests 2024
Institution
Practice Tests 2024
HBX Core Business Analytics - Full Study
Guide Solutions
Skewness - ANSWER-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 ...
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 - ANSWER✔✔-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 - ANSWER✔✔-a unique symmetrical shape whose centre and width are determined
by its mean and standard deviation respectively.
z-value - ANSWER✔✔-the distance that x lies from the mean, measured in standard deviations.
Central Limit Theorem - ANSWER✔✔-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 - ANSWER✔✔-An estimate of the range in which the true population mean likely
lies.
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