HBS Core - Business Analytics Study Review Practice Exam.
Standard Deviation - Definition - CORRECT ANSWER A measure of the spread of a data set's values around its mean value.
Standard Error - Definition - CORRECT ANSWER Estimates how close the mean of the sample is to the mean of the over...
HBS Core - Business Analytics Study
Review Practice Exam.
Standard Deviation - Definition - CORRECT ANSWER A measure of the spread of a data set's values
around its mean value.
Standard Error - Definition - CORRECT ANSWER Estimates how close the mean of the sample is to the
mean of the overall population
Standard Error - Formula - CORRECT ANSWER Standard Deviation / Sqrt(n)
Variance - CORRECT ANSWER A measure of the spread of a data set's values around its mean value.
Coefficient of Variation - Definition - CORRECT ANSWER Measure of a data set's variation relative to its
mean. Expressed as a % of mean
Coefficient of Variation - Formula - CORRECT ANSWER CV = STD/Mean
68-95-99.7 Rule - CORRECT ANSWER Normal Distribution
68% of values within 1 stdev
95% of values within 2 stdev
99.7% of value within 3 stdev
Adjusted R-Squared - CORRECT ANSWER Used to compare regression models against each other. Unique
property of decreasing when an independent variable that does not improve the model is added
Base Case - CORRECT ANSWER Element of a categorical variable that is not included in the regression
model
, Central Limit Theorem - CORRECT ANSWER If we take sufficiently large randomly selected samples from
a population, the means of these samples will be normally distributed regardless the underlying
population's distribution
Confidence Level - CORRECT ANSWER Percentage of all possible samples that can be expected to include
the true population parameter
correlation coefficient - CORRECT ANSWER Measure of the strength of a linear relationship between two
variables. Ranges from -1 to 1. Equals Multiple R in a regression model output
Error Term - CORRECT ANSWER Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - CORRECT ANSWER AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - CORRECT ANSWER Population Mean +/-
CONFIDENCE.NORM
Excel Function - Cumulative Probability - CORRECT ANSWER NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value - CORRECT ANSWER T.TEST
Excel Function - Find x-value on normal distribution - CORRECT ANSWER NORM.INV
Excel Function - Percentile - CORRECT ANSWER PERCENTILE.INC
Excel Function - Standard Normal Probability - CORRECT ANSWER NORM.S.DIST
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