Deck 14: Data Analysis and Probability

Question 1

Netflix's and Amazon's ability to suggest books and movies you might like is based on algorithms that show:

A) closeness of fit
B) correlation
C) regression analysis
D) standard derivatives
E) none of the above

Answer 1

B

Question 2

Is there correlation between height and longevity? Do some quick online research and find data and specific examples that prove your point in the most objective manner possible.

Answer 2

The longest living Japenese are Okinawans, who are the smallest. The longest living Pakistanis are Hunzas, who are also the smallest. A regression analysis conducted by the coroner of Cuyahoga County of Ohio showed that each additional inch of height reduced the age of death by 1.2 years.

Question 3

Define correlation.

Answer 3

Correlation measures the degree to which two phenomena are related to one another.

Question 4

Create a relative frequency distribution for each network and then use them to make a recommendation to an advertising client for selling a youth sports program, beer, and a retirement community, and explain why.

Question 5

You have ten part-time employees who worked 20, 25, 25, 30, 31, 32, 27, 21, 22, and 15 hours during the week. Calculate the mean, median and mode for the hours worked during the week.

Question 6

Calculate the weighted hourly average wage for the data provided in previous question by incorporating the following hourly pay information. The workers who worked 15, 20, 21, and 22 hours earn $10 per hour while all the other workers earn $12 per hour. What is the weighted average hourly wage?

Question 7

Assume someone offers you the following bet. She suggests that she and you toss two coins at a time. The possible outcomes would be 2 heads, 2 tales, or a heads and a tales. They suggest if two heads or two tales are tossed they win, but if one heads and one tales are tossed you win. They suggest that since you have one chance to win and they have two chances to win if you win they will pay you $1.00, but if they win you owe her 50 cents each time. She suggests that in the long run, you would be equal. Is she correct?

Question 8

Which of the following is NOT the primary goal of sport team analytics?

A) to get more people to purchase season (or at least multiple-game) tickets
B) induce fans to actually use the tickets
C) obtain customer credit card data
D) find ways to have fans purchase ticket year after year
E) none of the above

Question 9

Imagine a box office manager reducing the price of a $100 ticket by 25% to help stimulate sales. Then a major event makes the game a must-have ticket and the same manager decides to raise prices of the discounted ticket by 25%. What will the ticket sell for?

A) $105
B) $100
C) $98.25
D) $93.75
E) None of the above