# Quiz 5: Perform the Analysis: Types and Tools of Data Analyses

Business

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Q 4Q 4

"What should we do based on what we expect will happen?" is investigated using Prescriptive Analytics.

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Q 5Q 5

An adjusted R-squared value of 0 represents no ability of the model to explain the dependent variable.

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True False

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True False

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Q 9Q 9

What is the second step in the AMPS model?
A) Master the Data
B) Manipulate the Data
C) Maintain the Data
D) Mine the Data

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Multiple Choice

Q 10Q 10

Which type of question does prescriptive analytics address?
A) What happened?
B) What should we do based on what we expect will happen?
C) Why did it happen?
D) Will it happen in the future?

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Q 11Q 11

Which type of question does descriptive analytics address?
A) What happened?
B) What should we do based on what we expect will happen?
C) Why did it happen?
D) Will it happen in the future?

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Multiple Choice

Q 12Q 12

Which type of question does diagnostic analytics address?
A) What happened?
B) What should we do based on what we expect will happen?
C) Why did it happen?
D) Will it happen in the future?

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Multiple Choice

Q 13Q 13

What type of analytics addresses questions of "Why did it happen?"?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 14Q 14

What type of analytics would predict if a company is expected to go bankrupt?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 15Q 15

If we wanted to know what level of sales was achieved last quarter at a competitor company, we would perform __________ analytics.
A) descriptive
B) diagnostic
C) predictive
D) prescriptive

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Q 16Q 16

What type of analytics would investigate performance different than was expected, such anomalies/outliers?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 17Q 17

What type of analytics would primarily use analytics to separate, or classify, a sample into two or more groups or classes?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 18Q 18

What type of analytics would include a classification analysis to assess whether the bank should extend a loan?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 19Q 19

What kind of analytics tool or technique is generally used to perform diagnostic analytics?
A) Variance analysis
B) Vertical analysis
C) Time series
D) Regression

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Q 20Q 20

Which analytics tool or technique is generally used in descriptive analytics?
A) Time series
B) Classification
C) Variance analysis
D) Horizontal analytics

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Q 21Q 21

Which type of analysis is generally associated with predictive analytics?
A) What-if scenario
B) Fuzzy matching
C) Times series
D) Means, modes, medians, and counts

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Q 22Q 22

A z-score tells us how many __________, a data point (or observation), x

_{i}, is from its population mean, μ? A) standard deviations B) units C) standard errors D) incrementsFree

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Q 23Q 23

Which distribution is a probability distribution with a low mean and highly skewed to the right?
A) Normal distribution
B) Poisson distribution
C) Level distribution
D) Uniform distribution

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Q 24Q 24

If p-value of a statistical test >= alpha threshold, you
A) should reject the alternate hypothesis (i.e., significant result).
B) should fail to reject the null hypothesis (i.e., not significant result).
C) accept the null hypothesis.
D) have insufficient evidence to either reject or fail to reject the alternate hypothesis.

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Q 25Q 25

If p-value of a statistical test is 0.04 and alpha is 0.10, you
A) should reject the null hypothesis (i.e., significant result).
B) should fail to reject the null hypothesis (i.e., not significant result).
C) accept the alternate hypothesis.
D) have insufficient evidence to either reject or fail to reject the null hypothesis.

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Q 26Q 26

If p-value of a statistical test is 0.09 and a 90% confidence interval, you
A) should reject the null hypothesis (i.e., significant result).
B) should fail to reject the null hypothesis (i.e., not significant result).
C) accept the alternate hypothesis.
D) have insufficient evidence to either reject or fail to reject the null hypothesis.

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Q 27Q 27

If p-value of a statistical test is 0.09 and a 95% confidence interval, you
A) should reject the null hypothesis (i.e., significant result).
B) should fail to reject the null hypothesis (i.e., not significant result).
C) accept the alternate hypothesis.
D) have insufficient evidence to either reject or fail to reject the null hypothesis.

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Multiple Choice

Q 28Q 28

If we run a regression where y (bankruptcy) = f (factors potentially predicting bankruptcy), what is the dependent variable?
A) Factors potentially predicting bankruptcy
B) Bankruptcy
C) There are no dependent variables
D) Cannot be determined

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Q 29Q 29

If we run a regression where y (bankruptcy) = f (factors potentially predicting bankruptcy), what is the independent variable?
A) Factors potentially predicting bankruptcy
B) Bankruptcy
C) There are no dependent variables
D) Cannot be determined

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Q 30Q 30

According to the normal distribution, __________% of the data would fit within 2 standard deviations of the mean.
A) 68
B) 99
C) 95
D) 99.7

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Q 31Q 31

According to the normal distribution, __________% of the data would fit within 1 standard deviations of the mean.
A) 68
B) 99
C) 95
D) 99.7

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Q 32Q 32

Albert Einstein's intelligence quotient (IQ) was reported to be 160. If the population mean IQ is 100 and the standard deviation is 15, what is the z-score associated with Albert Einstein's IQ?
A) 160
B) 4
C) 10.666
D) 100

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Q 33Q 33

If an accounts payable transaction has a z-score of 3, with a mean of $20,000 and a standard deviation of $5,000, what is the amount of the related party transaction?
A) $20,000
B) $15,000
C) $25,000
D) $35,000

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Q 34Q 34

The distribution of hearts within a fair deck of cards would follow the __________.
A) Normal distribution
B) Poisson distribution
C) Level distribution
D) Uniform distribution

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Q 35Q 35

If the hypothesized relationship is assumed to not exist, this would be an example of a(n) __________ hypothesis.
A) alternative
B) correct
C) null
D) incorrect

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Q 36Q 36

A(n) __________ hypothesis is a hypothesis used in hypothesis testing that is opposite of the null hypothesis, or a potential result that the analyst may expect.
A) alternative
B) correct
C) null
D) incorrect

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Q 37Q 37

The probability that a population parameter will fall between two set values is called a __________.
A) parameter
B) confidence interval
C) sample
D) descriptive statistics

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Q 38Q 38

A __________ is a characteristic of a population.
A) parameter
B) normal distribution
C) sample
D) descriptive statistics

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Q 39Q 39

A statistic is a characteristic of a __________.
A) parameter
B) population
C) sample
D) correlation

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Q 40Q 40

A histogram is used to understand:
A) the basic statistics, including the mean, standard deviation, minimums, and maximums of a data set.
B) the frequency of the data using a display of rectangles with area proportional to the underlying frequency of the data.
C) the relation between specific dependent variable values and independent variable inputs.
D) the probability of a statistical difference in means between either two independent samples or a paired sample through time.

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Multiple Choice

Q 41Q 41

A regression is used to understand:
A) the basic statistics, including the mean, standard deviation, minimums, and maximums of a data set.
B) the frequency of the data using a display of rectangles with area proportional to the underlying frequency of the data.
C) the relation between specific dependent variable values and independent variable inputs.
D) the probability of a statistical difference in means between either two independent samples or a paired sample through time.

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Multiple Choice

Q 42Q 42

A t-test is used to understand:
A) the basic statistics, including the mean, standard deviation, minimums, and maximums of a data set.
B) the frequency of the data using a display of rectangles with area proportional to the underlying frequency of the data.
C) the relation between specific dependent variable values and independent variable inputs.
D) the probability of a statistical difference in means between either two independent samples or a paired sample through time.

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Multiple Choice

Q 43Q 43

A correlation is used to understand:
A) the probability of a difference in means between either two independent samples or a paired sample through time.
B) the basic statistics, including the mean, standard deviation, minimums, and maximums of a data set.
C) the frequency of the data using a display of rectangles with area proportional to the underlying frequency of the data.
D) the extent to which variables are related to each other.

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Multiple Choice

Q 44Q 44

What tool or technique is used to quantitatively analyze the relationship between and among multiple variables?
A) Cross-tabulations
B) Time series
C) Histograms
D) Descriptive statistics

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Multiple Choice

Q 45Q 45

A __________ is a subset of members selected to represent the __________.
A) sample; distribution
B) sample; population
C) population; sample
D) statistic; distribution

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Multiple Choice

Q 46Q 46

Which type of analytics will summarize how much the company paid in federal taxes last year?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 47Q 47

Which type of analytics will work to explain why the average effective tax rate changed?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 48Q 48

Which type of analytics will provide insight on whether the company should rent or own its headquarters?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 49Q 49

Which type of analytics will forecast sales?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 50Q 50

Diagnostic analytics would be more likely to use these tools in its analysis than other types of analytics?
A) Totals, sums, averages, and subtotals
B) Fuzzy matching, Benford's law, variance analysis
C) Forecasting tools, regression, and classification
D) Goal-seek analysis, what-if analysis

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Q 51Q 51

Predictive analytics would be more likely to use these tools in its analysis than other types of analytics?
A) Totals, sums, averages, and subtotals
B) Fuzzy matching, Benford's law, variance analysis
C) Forecasting tools, regression, and classification
D) Goal-seek analysis, what-if analysis

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Multiple Choice

Q 52Q 52

Prescriptive analytics would be more likely to use these tools in its analysis than other types of analytics?
A) Totals, sums, averages, and subtotals
B) Fuzzy matching, Benford's law, variance analysis
C) Forecasting tools, regression, and classification
D) Goal-seek analysis, what-if analysis

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Multiple Choice

Q 53Q 53

Descriptive analytics would be more likely to use these tools in its analysis than other types of analytics?
A) Totals, sums, averages, and subtotals
B) Fuzzy matching, Benford's law, variance analysis
C) Forecasting tools, regression, and classification
D) Goal-seek analysis, what-if analysis

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Multiple Choice

Q 54Q 54

What is the third step in the AMPS model?
A) Predict the Outcome
B) Prescriptive Analysis
C) Perform the Analysis
D) Predictive Analysis

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Q 55Q 55

What is the final step in the AMPS model?
A) Share the Findings.
B) Sharpen the Story.
C) Share the Results.
D) Share the Story.

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Q 56Q 56

In the AMPS model, what step immediately precedes Performing the Analysis?
A) Master the Data
B) Mine the Data
C) Ask the Question
D) Share the Story

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Q 57Q 57

Which type of analytics would encompass compiling the financial statements?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Q 58Q 58

What type of analytics would encompass creating Key Performance Indicators (KPI's) from the information reported in financial statements?
A) Descriptive analytics
B) Diagnostic analytics
C) Predictive analytics
D) Prescriptive analytics

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Multiple Choice