Download QBA FINAL EXAM STUDYT GUIDE.pdf and more Exams Nursing in PDF only on Docsity!
QBA FINAL EXAM STUDYT GUIDE 2024-2025 |COMPLETE
QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) A
GRADED.
Why should we take the time to format spreadsheets? - ANSWER --It helps communicate the data more clearly -It makes the work look more professional
What is used to draw attention to headings and distinguish them from the data in tables? - ANSWER -Contrast
What is the difference between a formula and a function? - ANSWER A function is a built-in formula
How do you know how to format a spreadsheet in the "real world"? - ANSWER -You'll need to create or conform to the specific standards for an individual company or industry
What is syntax? - ANSWER -The prompts Excel gives you regarding what inputs to use in a function
If you create a formula in this tab that refers to a cell in the 1 Formatting tab, how would that tab name appear in the formula? - ANSWER -''1 Formatting!'
The syntax for the SUM function looks like this: SUM(number1, [number2],...) What is this syntax telling you to do? - ANSWER -Select
all cells you want to add together, separate each with a comma, and close with a parenthesis
How is the ROUND function different from using the decrease decimal button? - ANSWER -The round function actually removes extra digits; the decrease button only hides extra decimal places from view
What type of data are the Sales amounts in the Paste Special tab, and why are they considered that type? - ANSWER -Quantitative, because they are measurable, numeric values
What portion of this formula should be calculated first? Y = (X + CD) + D^2 * X + C - ANSWER -X + CD
Which of the following is an example of qualitative data? - ANSWER - Major
What is the purpose of creating an absolute reference to a cell in a formula? - ANSWER -To ensure when your formula is copied that the value in the same exact cell is used for each copied formula
In the syntax =(AVERAGEIFS(average_range, criteria_range1, criteria1,...), what is the average_range? - ANSWER -The selected range of cells that will have its values averaged
What P (probability) value tells us the relationship is significant? - ANSWER -<=.
Linear relationships can be... - ANSWER -Either positive or negative
What is the purpose of simple linear regression? - ANSWER -To predict one variable based on a known variable and correlation
If the correlation coefficient between 2 variables is -0.89, what is the strength of the correlation? - ANSWER -Very strong negative correlation
Pearson's Correlation is used to analyze the relationship between what kind of variables? - ANSWER -Quantitative
What is correlation? - ANSWER -How much the change in 1 variable is related to a change in another variable
What does it mean when we say that the tails of the normal curve are asymptotic to the x axis? - ANSWER -The tails get closer and closer to the x axis but never touch it.
What are the parameters of the standard normal distribution? - ANSWER -Mean = 0, Standard Deviation = 1
What does the symbol μ represent? - ANSWER -Population mean
What does the symbol s2 represent? - ANSWER -Sample Variance What is the correct interpretation of the variance? - ANSWER -On average, what a consumer is willing to pay differs from the mean of $15 by 25 squared dollars.
What is the correct interpretation of the standard deviation? - ANSWER -On average, what a consumer is willing to pay differs from the mean of $15 by $5.
The mean of $15 is a __________________. - ANSWER -Sample statistic
What is the population? - ANSWER -All consumers
What is the sample? - ANSWER -100 consumers
The United States government conducts a census every 10 years. They collect information from every single household in America to determine the population of the country. During the last census, they found that 14.5% of the country is 65 years or older. - ANSWER population parameter.
The 28.56% - ANSWER -sample statistic.
What is the population? - ANSWER -All Ohio customer
What is the correct interpretation of the standard deviation? - ANSWER -It represents the average difference from a data point to the mean.
"33.2%" is a - ANSWER -sample statistic
Of the U.S. adult population, 36% has an allergy. A sample of 1200 randomly selected adults resulted in 33.2% reporting an allergy. - ANSWER -population parameter
Which set of values has no specific relationship with each other? - ANSWER -Mode and Sum
Why is the standard deviation a better measure of spread than range?
- ANSWER -Standard deviation can predict the percentage of values that fall in a given interval
In this data, what central tendency amount would be best to report? - ANSWER -Mean
On average, how much does each rental's rating differ from the mean? - ANSWER -0.
In this analysis, the mean and median are the same. What does this indicate? - ANSWER -The data is normally distributed
Why aren't the column headings included in the first array of the index command? - ANSWER -Because the data we're looking for is not in the column headings
In a copyable Index Match Match command, all values are locked except: - ANSWER -The row of the first lookup value and the column of the second lookup value
What is the single value returned by the INDEX function? - ANSWER The value of a cell
What is the single value returned by the MATCH function? - ANSWER -It could be a row number or a column number in the lookup table
What function would you use to see if multiple conditions are true? - ANSWER -IF AND
When does the IFS command display a value? - ANSWER -When it reaches the first true condition
How many arguments (inputs) does this syntax REQUIRE? - ANSWER -One
What type of data are the "Owner IDs" in the table above? - ANSWER Qualitative
Why is SUM(A1:F1) better than SUM(A1,B1,C1,D1,E1,F1)? - ANSWER -
You want to compare the total sales for 9 different salespeople. What chart type should you use? - ANSWER -A bar/column chart
What should be avoided in charts as a best practice? - ANSWER - Both 3D and purely decorative elements should be avoided
What should be included in charts as a best practice? - ANSWER - Titles and the source
What type of data can be plotted in a chart? - ANSWER -Both quantitative and qualitative
If you want to show the total sales for each employee in a pivot table, what categories would you use for the rows and values, respectively?
- ANSWER -Employee for row; Sales for values
Are pivot tables updatable? - ANSWER -Yes, but not automatically; the "refresh" button must be pushed to sync with updated data
What is the purpose of a pivot table? - ANSWER -To summarize data
What function would you choose to answer, "Find the number of employees that work full-time." - ANSWER -COUNTIFS
Assume you have data for sales generated by all employees in a company. In which scenario would you choose to use a regular SUM
function rather than a SUMIFS function? - ANSWER -Find the total sales for all employees
How are COUNTIFS different from SUMIFS and AVERAGEIFS? - ANSWER -SUMIFS and AVERAGEIFS have one more required argument in the syntax
What is the purpose of AVERAGEIFS? - ANSWER -To average the value of selected cells when specific conditions are met
What is the purpose of SUMIFS? - ANSWER -To total the value of selected cells when specific conditions are met
Why do we use "IFS" instead of the "IF" versions of the functions in Excel? - ANSWER -"IFS" statements allow you to add additional conditions, if needed
What does the CountIF syntax tell you to select for the inputs? =COUNTIFS (Criteria_range1, criteria1, ...) - ANSWER -Cells to look in, value(s) to look for
Which of the following is NOT a type of descriptive statistic? - ANSWER -Index Match Match
If you think that your dataset will change or be updated, what is the best way to compute descriptive statistics? - ANSWER -Use functions (e.g., =AVERAGE, =MEDIAN)
Ex: = SUM(number1, [number2],...) Ex: = MATCH(lookup_value, lookup_array, [match_type]) what do the square brackets mean? - ANSWER -That portion of the function is optional
In the Index function syntax. = Index (array, row_number, col_number) what does "array" mean? - ANSWER -All of the data cells in the table
What is the output of a match function? - ANSWER -The value in a certain cell
What is the first car name in your sorted Cars Source table? - ANSWER -BMW i
What is the first name of the mentor in the top row of your completed Mentor table? - ANSWER -Shirly
What type of data are the Mentee IDs? - ANSWER -Qualitative
What type of data are the ranges in the Electric Cars data? - ANSWER -Quantitative
What is the purpose of the Index function in the Index (Match, Match) function? - ANSWER -To find the value of the cell where the row and column numbers intersect
What is the purpose of the match functions in the Index (Match, Match) function? - ANSWER -To find the row and column numbers
Employees whose sales exceeded $5000 receive a bonus of $250. Employees whose sales are $3001 -$5000 get a bonus of $100. Employees whose sales are $1000-3000 get a bonus of $50. What is the correct syntax? - ANSWER -IFS(F4>5000, 250, F4>3000, 100, F4>1000, 50)
What is the best way to binary encode Male as the number one and female as the number zero? - ANSWER -IF ( A3="Male", 1, 0 )
Given this syntax: IF(Logical_Test, Value_If_True, Value_If_False) what would be an example of a "Logical_Test" - ANSWER -C4 <= B
What is the purpose of binary encoding? - ANSWER -To turn qualitative data into values that can be analyzed using advanced statistical analysis
What would the output be if the logical test in the following statement was false? =IF(C4>50, "Blue", "Red") - ANSWER -Red
What would the output be if the logical test in the following statement was true? =IF(C4>50, "Nailed It!", "Doh!") - ANSWER -Nailed It!
