Business Analytics practice questions

Question: What type of graph is this? [Solar Cost Graph]

Answer Choices:
Ogive
\nTime-series
\nLorenz curve
\nHistogram

Answer: Time-series

Question: Which of the following is NOT a measure of average?

Answer Choices:
Standard deviation
\nMode
\nMean
\nMedian

Answer: Standard deviation

Question: In probability theory, which of the following can mutually exclusive events NOT do?

Answer Choices:
Be within the same experiment
\nBe prime numbers
\nHold a value of zero
\nOccur simultaneously

Answer: Occur simultaneously

Question: Based on the following data, what is the calculated mean? 4, 5, 12, 9, 2, 3, 5, 5, 5, 10

Answer Choices:
5
\n6
\n35.5
\n60

Answer: 6

Question: Assume you have 50 factory employees and 25 administration employees at your company. If you were to randomly pull one employee out of the complete HR database, what is the probability that the person works in the factory?

Answer Choices:
0.33
\n0.45
\n0.50
\n0.67

Answer: 0.67

Question: What must the sum of a distribution’s deviation scores calculate to?

Answer Choices:
The square root of the distribution’s mean
\nThe sum of the mean squared
\nThe distribution’s n
\nZero

Answer: Zero

Question: Based on the following data, what is the median? 4, 5, 12, 9, 2, 3, 5, 5, 5, 10

Answer Choices:
5
\n6
\n35.5
\n60

Answer: 5

Question: In probability theory, what is the term for a specifically defined outcome that is of particular interest to the experimenter?

Answer Choices:
Hit
\nEvent
\nInstance
\nValue

Answer: Event

Question: How is a third quartile (Q3) determined?

Answer Choices:
By dividing the sum of the data set by .75
\nBy finding the middle value between the data set’s median and highest value
\nBy obtaining ¾ of a distribution’s standard deviation
\nBy using the coefficient of variation

Answer: By finding the middle value between the data set’s median and highest value

Question: What does it mean when a group of events is known to be collectively exhaustive?

Answer Choices:
The group contains only conditional events from the experiment
\nThe group encompasses all possible outcomes from the experiment
\nThe group is irrational
\nThe sum of the observed values equals zero

Answer: The group encompasses all possible outcomes from the experiment

Question: How is the range of data determined?

Answer Choices:
By dividing the maximum value in the data set by the distribution’s n
\nBy dividing the minimum value in the data set by the distribution’s n
\nBy subtracting the minimum value from the maximum value in the data set
\nBy ranking the data and calculating distance between each observed value

Answer: By subtracting the minimum value from the maximum value in the data set

Question: In 1992, what was the OVERALL cost to an industry using solar modules?

Answer Choices:
$7.50
\n$8.00
\n$8.45
\nThe graph does not provide this information

Answer: $8.45

Question: According to probability theory’s rule of multiplication for the independent event, what is the probability that Event X and Event Y both occur equal to?

Answer Choices:
The probability that Event X occurs multiplied by the probability that Event Y occurs, given that Event X has not occurred
\nThe probability that Event X occurs multiplied by the probability that Event Y occurs, given that Event X has occurred
\nThe probability that Event X occurs plus the probability that Event Y occurs, given that Event X has occurred
\nThe probability that Event X occurs plus the probability that Event Y occurs, given that Event Y has occurred

Answer: The probability that Event X occurs multiplied by the probability that Event Y occurs, given that Event X has not occurred

Question: In probability theory, what is the term for the reason an activity takes place?

Answer Choices:
Outcome
\nEvent
\nExperiment
\nInstance

Answer: Experiment