1. Small business owner develops a model to estimate the sales of hand comb based on a buyer's annual income. This is an example of

- descriptive analytics

- distinctive analytics

- predictive analytics

- prescriptive analytics

2. Find the false of the following regarding an interval estimate,

- It grows wider with larger samples - It is the sample mean +/- margin of error

- Is a range of a population characteristic

- It grows wider with smaller samples

3. Conditional probabilities aren't applicable for

- Non-independent events

- Non-mutually exclusive events

- Mutually exclusive events - Independent events

4. What is the rationale for fitting a theoretical distribution to observed data?

- It provides the basis for decision-making

- The data would otherwise be useless without knowing the distribution - It enables inferences beyond the range of the sample - It will model the underlying nature of the data

5. Normally the number of permutations of a group of numbers will be

- Greater than the number of combinations

- lower than the number of combinations

- same as the number of combinations

6. A prediction interval for a new observation is wider than the interval estimate for an average observed value or smaller than the interval estimate for an average observed value?

7. A business produces mean and median unit sale prices and percent total sales for each product in its product portfolio. Is this:

- Predictive analytics

- Prescriptive analytics

- Descriptive analytics

- Optimal analytics

8. Is the standard deviation metric useful in summarizing what the extent of a data sample looks like?

- True

- False

9. The probability mass function is essentially the same as

- continuous distribution of discrete outcomes

- distribution of the percent of possible outcomes

- frequency distribution of possible outcomes

- the function of non-discrete outcomes

10. The analytics director wants to pull records from their sales database that represent first-quarter sales transactions exceeding $40,000. An appropriate tool to use would be:

- filter

- combo box

- pivot table