A research marketer is interested in collecting information about the spending habits of families in North America. Concerned about the volume of data required to conduct the research, they choose to use sampling. The dataset is sourced using all credit card transactions from a leading North American credit card company for Quarter 1 of the prior year.
The sample used is:
Answer : B
An analyst is looking at a particular dataset that includes the scores across all 8th grade students, across three schools. The analyst is trying to determine which type of statistics average to use to best represent the results. On looking through the dataset, the analyst has identified a few extreme outliers.
As a result, the analyst was led to use the following type of average:
Answer : D
The research question prompting the use of analytics is well-defined. The team obtains the results and determines that the source data did not provide reliable results. As a result of this finding, the team modifies the original question to one that can be answered by the data.
What is a risk that could impact the value of this analysis?
Answer : A
An online retailer of men’s athletic apparel is seeking to become the market leader in the industry. To deliver on this strategy, the analytics team continuously collects data on the prices of competitor products and uses this information to adjust the retailer's prices.
What type of analytics is the retailer using to maintain their pricing structure?
Answer : A
A company wants to gauge the thoughts of their employees towards a new company product. On the 25th of March the interviewer makes a list of all employees who were at work on that day and then chooses a subset of those employees to interview.
Which term describes the list of all employees present on March 25th?
Answer : C
An organization's customers are categorized based on the amount of purchases completed over the last 12 months. The analytics team would like to ensure the accuracy of their survey results and decide to randomly select 500 customers to participate in a survey from this large pool of customers.
This is an example of:
Answer : B
The analytics team is struggling with which recommendation to make. Their challenge is that they have five good options and this indecision is stopping them from moving forward.
To help the team finalize their recommendation, the BA professional on the team recommends they complete:
Answer : A
An analyst at a supermarket chain has been asked to extract data from multiple data sources to complete a study on customer spending habits. The analyst is going to query data from various databases.
Which statement is true about database querying?
Answer : D
A database analyst is modelling a database for a large toy manufacturer. Which statement describes a logical database model?
Answer : A
The analytics team has been asked to provide an estimate of the number of customers they expect to have in 12 months. They debated how accurate that figure needs to be and determined that based on the availability of good data, they could predict within + or - 10%.
This is an example of a:
Answer : D
Based on the financial analysis that’s been completed by the analytics team, the business analysis professional reminds the team that the most financially feasible option is the one with the:
Answer : C
The analytics team has established two equally strong potential recommendations which will deliver the desired outcomes with similar benefits to be derived from each one. On the surface there is no discernable difference in costs or schedule for either option.
To help the analytics team reach a recommendation the business analysis professional recommends the team:
Answer : B
While sourcing data, an analyst runs into a situation where different business units are using different names to refer to the same data element. This lack of standardization is resulting in confusion and additional time required to properly prepare data for analysis.
Which practice, if implemented would address this situation and mature the organization's business analytics practice?
Answer : D
An analytics team is interested in reviewing the results of a public opinion poll that is going to be conducted at the end of the month. One of the factors the team is interested in, is ensuring the result set is statistically significant.
Why would this factor be important to the team?
Answer : B
A job satisfaction survey is being developed. Half of the employees will be asked the question “Do you enjoy working in your workplace?” The other half will be asked “Do you like the current work benefits?”. The business analyst raises concern over the survey.
What is concerning to the business analyst?
Answer : A
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