solutions-and-test-bank-for-business-analytics-2nd-edition-by-sanjiv-jaggia (1)

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Studocu is not sponsored or endorsed by any college or university Solutions and Test Bank For Business Analytics 2nd Edition By Sanjiv Jaggia Business Finance (University of Nottingham) Studocu is not sponsored or endorsed by any college or university Solutions and Test Bank For Business Analytics 2nd Edition By Sanjiv Jaggia Business Finance (University of Nottingham) Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com Student name:__________ TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) The process of retrieving, cleaning, integrating, transforming, and enriching data to support analysis is called data wrangling. ⊚ true ⊚ false 2) A foreign key (FK) is the only unique identifier in a table structure. ⊚ true ⊚ false 3) In R, the following represents how to receive results from column 3, row 2 > myData[3,2]. ⊚ true ⊚ false 4) In R, to sort data in descending order, we use a negative parameter in the order function. ⊚ true ⊚ false Version 1 1 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 5) Simple mean imputation is the best route for replacing large quantities of missing variables within a data set without distorting the relationship among variables. ⊚ true ⊚ false 6) To view only a portion of the data that is of interest, subsetting is used. ⊚ true ⊚ false 7) Converting data from one structure to another is called data transformation. ⊚ true ⊚ false 8) Subsetting is a technique used to convert numerical values into categorical variables. ⊚ true ⊚ false Version 1 2 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 9) A dummy variable takes on a value of 1 or 0 to describe two categories of a variable. ⊚ true ⊚ false 10) Megan took a phone survey where each question posed had an answer range of unsatisfied to completely satisfied describing her purchase experience. Because the categories are in equal increments, the category can be recoded into a number transforming the category into what is called a category score. ⊚ true ⊚ false MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers the question. 11) Which of the following is NOT a process of the data management system? A) acquire B) distribute C) store D) summarize Version 1 3 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 12) Which term represents data items, events, or things stored in a database file? A) instance B) entity C) settings D) quantitative 13) Mary in the accounting department has been assigned a specific vehicle as her company car to perform audits. This represents which type of relationship? A) 1 : 1 B) 1 : M C) M : N D) M : M 14) Select, From, and Where keywords are statements used in __________. A) DBMS B) XML C) SQL D) JAVA 15) The primary purpose of a(n) _____________ is to support decision-making and provide a composite view of the organization. Version 1 4 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com A) data warehouse B) data mart C) entity D) attribute 16) A non-relational database structure that can support the storage of a wide ranges of data, including structured, semi-structured, and unstructured is called ___________. A) SQL B) Free Range C) NoSQL D) Recreational 17) Mary has been tasked with reviewing a large data file. She wants to begin by first inspecting the number of values in each cell, both numeric and non-numeric, for any blank entries. The plan is to first find the blank or missing values for first review. Using Excel, what function(s) should she use to complete this task? A) COUNT B) COUNTA C) COUNTIF D) Both COUNT and COUNTA 18) Molly wants to view observations with missing values in Inventory. However, her data set is quite large. What functions should she use to complete her task in R? Version 1 5 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com A) > is.na (myData.Inventory) B) > is.na (myData$Inventory) C) > which (is.na(myData$Inventory)) D) > which (is.na(myData.Inventory)) 19) In the presence of outliers in a data set, extremely small or large values, it is preferred to use the __________ instead of the ________ to impute missing variables. A) median; mean B) mean; median C) subset; total D) average; range 20) In a data set with 18 variables, if 12% of the values, randomly spread across observations, are missing (blank), what is the probable percent of complete and usable observations? A) 88% B) 12% C) 10.02% D) 6.01% 21) In a data set with 20 variables, if 8% of the values, randomly spread across observations, are missing (blank), what is the probable percent of complete and usable observations? Version 1 6 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com A) 92% B) 8% C) 18.87% D) 15.29% 22) Using the simple mean imputation strategy, what value would be placed in the missing observation in x 1 ? x 1 x 2 76 22 82 88 32 41 85 28 A) 17 B) 83 C) 81 D) 66 23) Using the simple mean imputation strategy, what value would be placed in the missing observation in x 1 ? x 1 x 2 76 22 82 91 32 Version 1 7 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 41 88 28 A) 17 B) 84 C) 83 D) 90 24) Using the omission strategy, what value would be placed in the missing observation in x 1 ? x 1 x 2 74 22 80 91 32 41 88 28 A) No value because excluded B) 83 C) 81 D) 67 25) Using the omission strategy, what value would be placed in the missing observation in x 1 ? x 1 x 2 76 22 Version 1 8 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 82 91 32 41 88 28 A) No value because excluded B) 84 C) 83 D) 90 26) When performing an analysis, one technique is called RFM. Which of the following is not reflective of RFM? A) recency B) frequency C) monetary D) relevancy 27) Mark wants to have a better understanding of his client base at the credit union. To do so, he is running a report to show loan amount approval with corresponding credit scores. He realized the data set is quite large and wants to create categories by grouping. To do this, he needs to do all the following except A) identify the value he wants to transform into smaller groups or bins. B) remove 20% of the data to create a training set. C) ensure the data sets are not overlapping. D) identify how he wants the observations to be labeled in the bin. Version 1 9 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 28) In Analytic Solver, Aimee is trying to create a new column called RFM. This column is merging multiple values into one cell. The function to accomplish this is called? A) TRANSFORM B) CONCATENATE C) VARIABLE D) VLOOKUP 29) The function that provides a natural logarithm in Excel is? A) The INT function B) The LN function C) The YEARFRAC function D) The VLOOKUP function 30) In R, Mary wants to understand the number of days between rain events in Chicago, IL. What function is used to find the number of rain events between today and January 1, 2019? A) difftime B) as.numeric C) diffdate D) floor Version 1 10 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 31) Using R, what is the formula that will allow for the weekday function to display the day of the week for November 15, 2020? A) >weekdays< (as.Date(“2020-11-15”) B) > format(as.Date(“2020-11-15”), “%d”) C) > weekdays(as.Date(“2020-11-15”)) D) > Sys.Date(“2020-11-15”) 32) Four observations were binned into one group. In this group, the values are: 40, 45, 38, & 9. What is the average of the group? A) 35 B) 34 C) 32 D) 33 33) Four observations were binned into one group. In this group, the values are: 40, 45, 38, & 33. What is the average of the group? A) 41 B) 40 C) 38 D) 39 Version 1 11 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 34) The following table contains 2 variables with 2 observations. A new variable was created named Sum. This is the sum of the values x 1 and x 2 for each observation. What is the average value of Sum if the chart was completed? x 1 x 2 Sum 76 22 70 32 A) 100 B) 47 C) 92 D) 108 35) The following table contains 2 variables with 2 observations. A new variable was created named Sum. This is the sum of the values x 1 and x 2 for each observation. What is the average value of Sum if the chart was completed? x 1 x 2 Sum 76 22 82 32 A) 106 B) 53 C) 98 D) 114 Version 1 12 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 36) When too many variables are categorized in an analysis, several potential issues may occur. Which of the following is not one of the issues that may occur? A) model performance suffers. B) rarely occurring categories may not be captured accurately. C) difficulty in differentiating among observations. D) an increase in the number of categories as the data set becomes larger. 37) Henry wants to analyze income, but the sheer number of categories in the data’s current form will make a clear analysis less meaningful. In Excel with Analytic Solver, how will Henry determine the frequency of each category to transform his data? A) Income variable is selected and Analytic solver produces frequency levels for each income category from most to least frequent. B) Inspect the frequency of Income category: >table(myData$Income). C) Income variable is selected and Analytic Solver produces a new category for non-use variables. D) Apply a limit to the number of categories from the drop-down to a reasonable number. 38) Using R, what function is used to evaluate the categories in the variable to identify the dummy variables? A) referral B) if C) ifelse D) view Version 1 13 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 39) In the following table, there are four observations with three variables. Which category is the best fit to be transferred into dummy variables? Marital Status Age Income Single 24 $45,000 Married 26 $33,000 Single 33 $53,000 Married 28 $59,000 A) age B) marital status C) income D) none are a good fit for a dummy variable. 40) Ann is analyzing a data set that contains two variables, Job Title and 401K. 401K contains the name of the three companies that carry the retirement accounts. It is mandatory to have an account, thus no observation is blank. If 401K was transformed to dummy variables, how many should be created? A) 2 B) 3 C) 4 D) 1 Version 1 14 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 41) Transform the marital status into category scores where Single = 1 and Married = 0. How many would have the category score of 0? Marital Age Income Married 24 $45,000 Married 26 $33,000 Married 33 $53,000 Single 28 $59,000 Single 36 $62,000 Single 29 $48,000 A) 1 B) 6 C) 3 D) 0 42) Transform the marital status into category scores where Single = 1 and Married = 0. How many would have the category score of 0? Marital Status Age Income Single 24 $45,000 Married 26 $33,000 Single 33 $53,000 Married 28 $59,000 Married 36 $62,000 Married 29 $48,000 Version 1 15 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com A) 2 B) 6 C) 4 D) 0 43) Michael is examining a data set and trying to determine which category he can transform into a dummy variable. Of the four variables, Employee Number, Pay Rate, Hire Date, and Sex, which is the best fit to use a dummy variable? A) employee number B) pay rate C) hire date D) sex 44) Marcus wants to include the month of the year in the analysis as categories. How many dummy variables will be needed? A) 12 B) 11 C) 6 D) 1 Version 1 16 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 45) Kara is reviewing categories where a series of numbers represent the type of loan. She would prefer the actual name of the loan be retained when running her analysis. Using Analytic Solver, what function will allow Kara to retain the category name instead of recording them in numbers? A) log function B) view function C) IF function D) head function 46) Using the following table view, Mark wants to create a relationship between the two tables. What will he need to add to establish a relationship? A) primary key B) foreign key C) instances D) entities Version 1 17 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com Answer Key Test name: Chap 02_1e 1) TRUE The definition of data wrangling is the process of retrieving, cleansing, integrating, transforming, and enriching data to support subsequent data analysis. 2) FALSE 3) FALSE 4) FALSE 5) FALSE 6) TRUE 7) TRUE 8) FALSE 9) TRUE Version 1 18 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com 10) TRUE 11) D A data management process is to acquire, organize, store, manipulate, and distribute data. However, summarize is not an option in data management. 12) B An entity is a generalized category, representing people, places, things to be stored in a database file. 13) A In this situation, it is one person, Mary, assigned to a specific vehicle. So 1 : 1 relationship is the best fit for the scenario. 14) C Structured Query Language (SQL) is driven by the statements Select, From, and Where, to specify tables, attributes, and criteria to retrieve. 15) A Version 1 19 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

NOTE : All Chapters Available via Email Only querysmtb@gmail.com A data warehouse or enterprise data warehouse is the central repository for data in an organization. The historical and comprehensive view allows management to make strategic decisions for the business. 16) C A NoSQL offers the flexibility, performance, and scalability to handle high volumes of data. This next phase database will become common to handle the new world of growing data analysis. 17) D Because the data is both numerical and non-numerical, then both the COUNT and the COUNTA function need to be used to find the blank or missing values quickly. 18) C When a small data set is in use, then is.na function is fine, but when the set is larger, then which and is.na is used to quickly identify the missing values. 19) A With outliers, the preference is median over mean for the missing values. The reasoning is the swing could impact the variable amounts. Thus, both Analytic Solver and R both have easy imputations to compute this function. Version 1 20 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 20) C (1− 0.12) 18 = 0.1002 or 10.02%. 21) C (1− 0.08) 20 = 0.1887 or 18.87%. 22) B A simple mean is replacing the blank or missing variable with the mean or average of the present variables. = (76 + 82 + 88 + 85) ÷ 4 = 82.75 or 83. 23) B A simple mean is replacing the blank or missing variable with the mean or average of the present variables. = (76 + 82 + 91 + 88) ÷ 4 = 84.25 or 84. 24) A In the omission strategy, the missing values are excluded from the observation. 25) A Version 1 21 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com In the omission strategy, the missing values are excluded from the observation. 26) D RFM is the acronym for recency, frequency, and monetary. 27) B Binning is taking the entire data set, identifying the value to be binned into smaller groups, ensure no data overlapping, and label the bin accordingly. 28) B The CONCATENATE function allows for multiple cells to be merged into one cell. 29) B In Excel, LN function provides a natural logarithm transformation. 30) A The difftime function is used to determine the number of days between dates. Version 1 22 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com 31) C The weekdays is the function used to present the result of the day of the week. This example > weekdays(as.Date(???2020-11-15???)) comes back with the result of ???Sunday.??? 32) D 40 + 45 + 38 + 9 = 132 ÷ 4 = 33. 33) D 40 + 45 + 38 + 33 = 156 ÷ 4 = 39. 34) A First you need to sum the variables x 1 and x 2 (92 and 108, respectively). (92 + 108) ÷ 2 = 100 is the average of Sum. 35) A First you need to sum the variables x 1 and x 2 (98 and 114, respectively). (98 + 114) ÷ 2 = 106 is the average of Sum. 36) D If the results of a smaller set is applied to a larger data set, then errors may be created. The categories will not increase in numbers as the set Version 1 23 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com becomes larger, just more data will reside under the same amount of categories. 37) A Analytic Solver will produce results indicating the frequency levels from most to least frequent category for income. 38) C The ifelse function evaluates the category and determines the assignment of the 1 or 0. For example, if the category is sex, then 1 for male, 0 for female. 39) B Marital status can be transformed into 1 = married and 0 = single. 40) A The dummy variables would cover the three possible options for the company being used for the 401K funds. Given k categories of a variable, the general rule is to create k − 1 dummy variables, using the last category as reference. For 401k we only need to define two dummy variables ( k − 1 = 3 − 1 = 2). Creating a third dummy would create data redundancy. 41) C Version 1 24 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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NOTE : All Chapters Available via Email Only querysmtb@gmail.com The category score for Marital is 0, thus there are 3 with that status. 42) C The category score for Marital is 0, thus there are 4 with that status. 43) D Sex would be the best solution because the options are minimal. Example: 1 = Female, 0 = Male 44) B If a given k categories = 12, then k − 1, or 12 − 1 = 11 dummy variables. 45) C An IF function allows for statements to be crafted to transform numbers into category names. 46) B A foreign key is the primary key from another entity used to create a relationship between the tables. Version 1 25 Downloaded by Razia Shampa (razia.shampa82@gmail.com) lOMoARcPSD|23574016

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