HBX Core Business Analytics - Full Set Questions + Answers Graded A+
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HBX Core Business Analytics - Full Set
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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.
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