MGT 6203 Data Analytics for Business Midterm Sample Exam Questions for Part 1 | All Answers Correct

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1. Imagine that ten programmers are sitting on bar stools in a middle-class drinking establishment in Seattle; each of these programmers earns $500,000/year, which makes the mean and the median annual... income $500,000. Prof. Happy who has an annual income of $100,000, walks into the bar and sits with the other workers. Now, the mean annual income of the 11 of them will become: A) Higher than $500,000/year B) Remain the same at $500,000/year C) Lower than $500,000/year D) Impossible to compute! 2. We have time series data on the weekly sales of ice-cream brand A in year 2013; we know whether a particular week is in the spring, summer, fall, or winter. We have estimated the following model: Sales=a+b1*SpringDummy+b2*SummerDummy+b3*FallDummy. What is the proper meaning of the intercept a? A) The average weekly sales of ice-cream brand A in the spring B) The average weekly sales of ice-cream brand A in the summer C) The average weekly sales of ice-cream brand A in the fall D) The average weekly sales of ice-cream brand A in the winter 3. We have time series data on the weekly sales of ice-cream brand A in year 2013; we know whether a particular week is in the spring, summer, fall, or winter. We have estimated the following model: Sales=a+b1*SpringDummy+b2*SummerDummy+b3*FallDummy. What is the proper meaning of a+b1? A) The average weekly sales in the spring B) The average amount by which average weekly sales in the winter exceed average weekly sales in the spring C) The average amount by which average weekly sales in the spring exceed average weekly sales in the winter D) The average weekly sales in the summer [Show More]

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