business analytics exam 1

Question 1

facts and figures which industries use

Answer 1

data

Question 2

any characteristic of an element, also used to describe data

Answer 2

variable

Question 3

way to assign value of a variable of an element

Answer 3

measurement

Question 4

possible measurements fall into several categories

Answer 4

qualitative

Question 5

possible measurements of the values of a variable are numbers that represent quantities

Answer 5

quantitative data

Question 6

weight of packages, size of package, time of order to destination, costs

Answer 6

UPS quantitative data

Question 7

labels, name, anything used to identify an attribute

Answer 7

qualitative examples

Question 8

name , cell phone number, address, email

Answer 8

examples of qualitative data

Question 9

data collected at the same point in time

Answer 9

cross sectional data

Question 10

data already collected by public and private sources

Answer 10

existing sources

Question 11

internet, library, government

Answer 11

examples of exisiting sources

Question 12

data collected for a specific purpose

Answer 12

experimental and observational studies

Question 13

When initiating a study, you must first find a variable if interest called a

Answer 13

response variable

Question 14

variables related to the variables of interest in the second step of initiating a study

Answer 14

independent variables

Question 15

companies hope to use this to indicate past behavior and other information to predict customer response

Answer 15

transactional data

Question 16

process of centralized data management and retrieval

Answer 16

data warehousing

Question 17

the objective is the creation and maintenance of a central repository for an organizations data

Answer 17

data warehousing

Question 18

three types of analytic users

Answer 18

business user, business analytics, data scientist

Question 19

person who manages cleans and aggregates data

Answer 19

business analyst

Question 20

first step of anayltic process

Answer 20

business must find a problem and pain point

Question 21

second step of analytic process

Answer 21

collection and management of data

Question 22

third step of analytics process

Answer 22

describe and interpret what has happened with your collected past data

Question 23

4th step of analytics process

Answer 23

predict what will happen in the future

Question 24

5th step of analytics process

Answer 24

make a business decision

Question 25

2 subsets of quantitative data

Answer 25

discrete, continous

Question 26

quantitative data that consist of a whole number

Answer 26

discrete

Question 27

quantitative data that has fractions and decimals

Answer 27

continuous

Question 28

2 subsets of qualitative data

Answer 28

ordinal, nominal

Question 29

qualitative data that requires an order

Answer 29

ordinal

Question 30

qualitative data where order doesn't matter

Answer 30

nominal

Question 31

accepts payments from customers and keeps track of sales and inventory through an online store

Answer 31

point of sale system

Question 32

path a user takes through online journey

Answer 32

click stream data (CSD)

Question 33

computer based sharing of ideas, thoughts ,info, online data that the user provides

Answer 33

social media data

Question 34

a device that detects a change in the environment and converts the change into measurable data

Answer 34

sensor data

Question 35

Identity is coded but known by someone in charge

Answer 35

confidential

Question 36

no identity is known by anyone

Answer 36

anonymous

Question 37

entire group of people we want data from

Answer 37

population

Question 38

part of the population we collect to analyze

Answer 38

sample

Question 39

data for ALL of the population

Answer 39

census

Question 40

people or things being sampled

Answer 40

elements

Question 41

every set of individuals has an equal chance to be selected, foundation for all sample methods

Answer 41

simple random sample

Question 42

divides the population into nonoverlapping groups that select a random, sample from each strata

Answer 42

statified random sample

Question 43

list population, select random starting point, sample each nTH element, must have a starting point and random mathematical selection

Answer 43

systematic sampling

Question 44

divides the population into clusters, randomly select clusters , sample all in each cluster

Answer 44

multistage cluster sampling

Question 45

type of sampling requires large sample and geographical area

Answer 45

multistage cluster sampling

Question 46

select sample of people because it is easy to get data

Answer 46

convenient bias

Question 47

self selected sample, those who want to participate because they have a strong feeling

Answer 47

voluntary

Question 48

incomplete sampling where not a sufficient amount was sampled to make an accurate statement

Answer 48

undercoverage bias

Question 49

when sampling does not represent data not represent population due to biased sampling

Answer 49

sampling error

Question 50

doesnt include representation from entire population

Answer 50

coverage bias

Question 51

sampling procedures result in collecting incorrect data

Answer 51

measurement error

Question 52

response bias is a type of

Answer 52

measurement bias

Question 53

using leading questions or poorly worded

Answer 53

response bias

Question 54

bias caused by sampling method or how sample is conducted

Answer 54

coverage bias

Question 55

4 essential parts of consent form

Answer 55

purpose, what will be asked, will data be confidential or anonymous, are there risks