HBS Core - Business Analytics Latest Update 2024-2025 Actual Exam Questions and 100% Verified Correct Answers Guaranteed A+
68-95-99.7 Rule - CORRECT ANSWER: Normal Distribution
68% of values within 1 stdev 95% of values within 2 stdev 99.7% of value within 3 stdev
Adjusted R-Squared - CORRECT ANSWER: Used to compare regression models against each other. Unique property of decreasing when an independent variable that does not improve the model is added
Base Case - CORRECT ANSWER: Element of a categorical variable that is not included in the regression model
Central Limit Theorem - CORRECT ANSWER: If we take sufficiently large randomly selected samples from a population, the means of these samples will be normally distributed regardless the underlying population's distribution
Coefficient of Variation - Definition - CORRECT ANSWER: Measure of a data set's variation relative to its mean. Expressed as a % of mean
Coefficient of Variation - Formula - CORRECT ANSWER: CV = STD/Mean
Confidence Level - CORRECT ANSWER: Percentage of all possible samples that can be expected to include the true population parameter
correlation coefficient - CORRECT ANSWER: Measure of the strength of a linear relationship between two variables. Ranges from -1 to 1. Equals Multiple R in a regression model output
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Error Term - CORRECT ANSWER: Residual. Actual Value of Y - Expected Value of Y
Excel Function - Conditional Average - CORRECT ANSWER: AVERAGEIF
Excel Function - Create Confidence Interval with n >= 30 - CORRECT ANSWER: Population Mean +/-
CONFIDENCE.NORM
Excel Function - Cumulative Probability - CORRECT ANSWER: NORM.DIST
Excel Function - Determine signficance of relationship. Find p-value - CORRECT ANSWER: T.TEST
Excel Function - Find x-value on normal distribution - CORRECT ANSWER: NORM.INV
Excel Function - Percentile - CORRECT ANSWER: PERCENTILE.INC
Excel Function - Standard Normal Probability - CORRECT ANSWER: NORM.S.DIST
Excel Syntax - AVERAGEIF - CORRECT ANSWER: (criteria range, criteria, average range)
Excel Syntax - CONFIDENCE.NORM - CORRECT ANSWER: (alpha, stdev, sample size)
Excel Syntax - NORM.DIST - CORRECT ANSWER: (X, MEAN, STDEV, CUMULATIVE)
Excel Syntax - NORM.INV - CORRECT ANSWER: (probability, mean, stdev)
Excel Syntax - NORM.S.DIST - CORRECT ANSWER: (z value, cumulative)
Excel Syntax - PERCENTILE.INC - CORRECT ANSWER: (array, percentile value)
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