CBDA Statistical Analysis & Methods 1

Question 1

In hypothesis testing, what does a p-value of 0.03 indicate when using a significance level of 0.05?

Accepted Answer

Reject the null hypothesis; the result is statistically significant

Answer

A p-value of 0.03 is less than α = 0.05, so you reject the null hypothesis, meaning the result is statistically significant.

Question 2

Which measure of central tendency is MOST resistant to extreme outliers in a business dataset?

Accepted Answer

Median

Answer

The median is the middle value and is not affected by extreme values, making it robust to outliers.

Question 3

A CBDA analyst runs a chi-square test. What type of data relationship is this test designed to evaluate?

Accepted Answer

Association between two categorical variables

Answer

The chi-square test of independence evaluates whether two categorical variables are statistically associated.

Question 4

Standard deviation measures which characteristic of a dataset?

Accepted Answer

The spread or dispersion of values around the mean

Answer

Standard deviation quantifies how much individual data points deviate from the mean on average.

Question 5

In a simple linear regression model, the R-squared value represents:

Accepted Answer

The proportion of variance in the dependent variable explained by the independent variable

Answer

R-squared (coefficient of determination) indicates how much of the variability in Y is explained by X, ranging from 0 to 1.

CBDA - Certified Business Data Analyst Practice Test