Business Analyst correct answers Person who manages, cleans, and aggregates data; serves as a bridge between stakeholders and business by conducting analytical studies to help change business processes
Business User correct answers person who takes data to make decisions based on their jobs and ...
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Business Analyst correct answers Person who manages, cleans, and aggregates data; serves as a
bridge between stakeholders and business by conducting analytical studies to help change
business processes
Business User correct answers person who takes data to make decisions based on their jobs and
also interprets data
Data Scientist correct answers a person skilled in data inference, algorithm development and
technology in order to solve complex problems.
Scatter Plot (what relationship does this image show) correct answers The relation between %Fat
and BMI is positive because it is going up. It is weaker towards the higher on the curve however
very strong near the bottom of the curve around point (20,20)
This scatter plot shows the relationship between an iPhone app's price and the quantity sold at
different prices in thousands. A line of best fit is given.
Question: What's the relationship between app's price and quantity sold? correct answers This
graph shows a negative, strong relationship between Apple App's price and Quantity Sold.
Interpret a correlation coefficient of -0.96 (R) correct answers The correlation coefficient is the
distance away from the points on the graph. Or the variability. This shows that these two items
have a very high, negative correlation to one another and affect each other strongly.
The coefficient of determination (r^2) is 0.92. Please interpret it. (of apple's app price and
quantity sold) correct answers This means that there is a 92% chance of variability in Apple
App's Price and Quantity Sold. This is also considered strong because it is >.70.
In a study of 6- to 11-year-old elementary school children, researchers find a strong positive
association between reading level and weight (i.e. Heavier children have higher reading levels).
Please identify the independent variable (aka explanatory variable) and dependent variable (aka
response variable). correct answers Independant Variable- Weight
Dependant Variable - Reading Level
In a study of 6- to 11-year-old elementary school children, researchers find a strong positive
association between reading level and weight (i.e. Heavier children have higher reading levels).
Please identify a potential lurking variable and explain why. correct answers Heavier children eat
more meaning they have more money, which means they have a better education. Or the heavier
kids have more free time than not as heavy kids, due to physical activity, causing them to have
more practice time reading.
Time Series (Components) correct answers trend, cyclical, seasonal, irregular
Trend correct answers long run growth, or decline
, Cycle correct answers long-run up and down fluctuation around the trend level
Seasonal correct answers Regular periodic up and down movements that repeat within the
calendar year
Irregular correct answers Erratic very short-run movements that follow no regular pattern
Trend correct answers -sales decreasing and increasing over time
-sales is the dependent variable
-time is the independent variable
-can use quadratic regression
Analytics correct answers a process that examines data using a variety of statistical tools and
involves the discovery, interpretation, and application of meaningful patterns toward effective
decisions making in the workplace
Statistics correct answers branch of mathematics that studies methods for the calculation of
probabilities and provides tools for prediction and forecasting models
Seven steps of business analytic process correct answers 1. Define the business problem
2. Manage Data
3. Descriptive Analytics
4. Predictive Analytics
5. Prescriptive Analytics
6. Make actionable recommendations
7. Ask the next questions
Simple linear regression is how many variables?
What do we use for simple linear in terms of r square, how about multiple linear? correct
answers a. 1
b. For simple linear regression we use regular r square, and for multiple, we use adjusted r
square, the adjusted value will help us adjust our variables and their values.
Significance correct answers Use significant F for the whole model
Who p-value for individual variable
F formula correct answers MSR/MSE
What do we call situations when independent variables are highly correlated? correct answers
Multicollinearity
What is the most commonly used value of level of significance? correct answers 0.05
A cell phone provider reported the national average monthly bill for all cell phone users last year
was $118. An SRS of 100 people was taken in Alabama for last year.
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