Statistical Analysis & Methods Flashcards
6 cards from real CBDA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Statistical Analysis & Methods flashcards as text
Which sampling method ensures that every member of the population has an equal chance of being selected?
Answer: Simple random sampling
Simple random sampling gives every individual in the population an equal and independent chance of being included.
A CBDA analyst wants to compare average customer satisfaction scores across three or more business regions. Which statistical test is MOST appropriate?
Answer: One-way ANOVA
One-way ANOVA tests whether mean scores differ significantly across three or more independent groups.
What is 'multicollinearity' and why is it a concern in multiple regression analysis for business analysts?
Answer: When independent variables are highly correlated with each other, inflating coefficient estimates
Multicollinearity makes it difficult to isolate the individual effect of each predictor, reducing model interpretability.
In descriptive statistics, what does the interquartile range (IQR) measure?
Answer: The spread of the middle 50% of data values
The IQR is Q3 minus Q1 and captures the spread of the central half of the data, resistant to outlier influence.
A business analyst uses stratified random sampling when analyzing customer data. What is the PRIMARY advantage of this approach?
Answer: It ensures proportional representation of key subgroups in the sample
Stratified sampling divides the population into subgroups (strata) and samples from each, ensuring all key segments are represented.
Pearson correlation coefficient (r) ranges from -1 to +1. What does a value of -0.85 indicate?
Answer: A strong negative linear relationship
A value of -0.85 indicates a strong negative linear relationship: as one variable increases, the other decreases substantially.