The IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 11 Dec 2022, in the September 2022 term, set ETD1: 31 questions for 50 marks in 180 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.
Select which of the following are continuous data?
Number of courses you are crediting in this IIT Madras BSc program
Average weight of your batch in this BSc program
Average marks in Business Analytics, of your batch in this BSc program
Number of people in your batch in this BSc program having body weight more than 50Kg.
Correct answers
Average weight of your batch in this BSc program
Average marks in Business Analytics, of your batch in this BSc program
20% reduction in price will yield a 10% increase in sales
10% reduction in price will yield a 20% decrease in sales
50% increase in price will yield 25% increase in sales
25% increase in price will yield 50% decrease in sales
Correct answers
10% reduction in price will yield a 20% decrease in sales
25% increase in price will yield 50% decrease in sales
You are given a data of size 1000, which is centred at 50 and has a variance of 25. The median, mode, max and min values are 60, 22, 75 and 1 respectively. Then
The data is right-tailed
The data is left-tailed
The data is symmetric
Cannot say
Correct answer
The data is left-tailed
Logistic Regression is an unsupervised learning technique.
TRUE
FALSE
Correct answer
FALSE
From the Table given below, what is the number of True Negatives for Class C?
190
90
120
210
Correct answer
190
The object of the conjoint analysis problem will be _______?
Minimize the squared distance between the attribute combination for the ideal product and the customer preferences
Minimize the squared distance between the attribute combination for the ideal product and the attribute combination for each possible variant chosen by the customers
Minimize the distance between the possible customer preferences
Minimize the distance between the attribute combination for the ideal product and the customer preferences
Correct answer
Minimize the squared distance between the attribute combination for the ideal product and the attribute combination for each possible variant chosen by the customers
You are solving a regression problem with 4 explanatory variables. The data has 40 observations, and the R-square value was found to be 0.74. Then answer the given subquestions.
What is the value of adjusted R-square (Round off to two decimal values)?
Correct answer: 0.715 (accepted within ±0.015)
You are solving a regression problem with 4 explanatory variables. The data has 40 observations, and the R-square value was found to be 0.74. Then answer the given subquestions.
You are adding a new explanatory variable to the dataset and the new R squared value is 0.742 and adjusted R squared value is 0.745. Is the new variable significant.?
Yes
No
Calculation error. Adj R Squared value cannot be greater than R squared
Correct answer
Calculation error. Adj R Squared value cannot be greater than R squared
You are solving a regression problem with 4 explanatory variables. The data has 40 observations, and the R-square value was found to be 0.74. Then answer the given subquestions.
You are removing a few explanatory variables from the dataset and the new adjusted R square value is -0.21. Is it possible?
Yes. Adjusted R squared value can be negative
No. Calculation error
None of these
Correct answer
Yes. Adjusted R squared value can be negative
You are given the following contingency table based on a sample data of movie goers who either bought snacks or did not buy snacks and their movie genre preferences. You perform a chi- squared test of independence to make inferences about the population from this sample. Then answer the given subquestions
From the given contingency table, find the expected frequency of people preferring Drama who did not buy snacks?
Correct answer: 92 (accepted within ±3)
You are given the following contingency table based on a sample data of movie goers who either bought snacks or did not buy snacks and their movie genre preferences. You perform a chi- squared test of independence to make inferences about the population from this sample. Then answer the given subquestions
What is the calculated value of chi-squared?
Correct answer: 4.1 (accepted within ±2.9)
You are given the following contingency table based on a sample data of movie goers who either bought snacks or did not buy snacks and their movie genre preferences. You perform a chi- squared test of independence to make inferences about the population from this sample. Then answer the given subquestions
At the significance level 0.01, chi-squared tabular value is 11.34. What do you conclude?
Reject the null hypothesis and conclude that the categorical variables are not independent
Fail to reject the null hypothesis and conclude that the categorical variables are not independent
Fail to reject the null hypothesis and conclude that the categorical variables are independent
Reject the null hypothesis and conclude that the categorical variables are independent
Correct answer
Fail to reject the null hypothesis and conclude that the categorical variables are independent
The BSc Team wanted to see if the live sessions are getting a uniform response throughout any given term. Accordingly, the BA course was taken as a pilot and the total number of students who participated in the live sessions over the past three terms was obtained (data in table below). Given this information, answer the subquestions
What statistical test needs to be carried out to see if the attendance is uniform across the terms?
Chi-squared Goodness of Fit Test
Chi-Squared Test of Independence
Chi-Square Test of variance
Test of Means (Z or T tests)
Correct answer
Chi-squared Goodness of Fit Test
The BSc Team wanted to see if the live sessions are getting a uniform response throughout any given term. Accordingly, the BA course was taken as a pilot and the total number of students who participated in the live sessions over the past three terms was obtained (data in table below). Given this information, answer the subquestions
What is the value of the computed test statistic (Round your answer to one decimal place)?
Correct answer: 13.1 (accepted within ±0.1)
The BSc Team wanted to see if the live sessions are getting a uniform response throughout any given term. Accordingly, the BA course was taken as a pilot and the total number of students who participated in the live sessions over the past three terms was obtained (data in table below). Given this information, answer the subquestions
If the attendance is indeed uniformly distributed, then how many participants will you expect to see across live sessions in any given term? (round your answer to two decimal places)
Correct answer: 13.335 (accepted within ±0.005)
Suppose a factory manufactures products on three machines A, B and C. Suppose 45% of total output comes from machine A, 40% of total output comes from machine B and 15% of total output comes from machine C. From the past data, it is known that 10% of products by machine A are defectives, 20% of products by machine B are defectives and 15% of products by machine C are defectives. What is the probability that the product has come from machine C given that it is a defective?
Correct answer: 0.15 (accepted within ±0.03)
Which of the following data will you use to calculate price elasticity?
Protein-powder sales increases by 10% when the national income grows by 15%.
Tea sales increases by 10% when daily average working hours of employees goes up by 2 hrs .
Paneer (Indian Cottage Cheese) sales go down by 10% when price goes up from Rs.100 to Rs.120 per 200 gram.
All of these
Correct answer
Paneer (Indian Cottage Cheese) sales go down by 10% when price goes up from Rs.100 to Rs.120 per 200 gram.
What is the productive efficiency frontier?
It is an aspect of economic efficiency focussing on maximizing the output under given constraints (without worrying about optimal allocation, or choice of products).
Effective usage of technology for allocating resources optimally
Consists of all combinations of outputs such that the production of one product cannot be increased without sacrificing the output of the other (without any change in technology)
Correct answer
Consists of all combinations of outputs such that the production of one product cannot be increased without sacrificing the output of the other (without any change in technology)
In DEA, for calculating the weights of efficiency (weighted outputs/weighted inputs), when can the Linear Programming model can be used?
After converting the ratio into the linear objective function
After normalizing the denominator
By setting a constraint on the efficiency of all DMUs to be lesser than or equal to 1
All of these
Correct answer
All of these
Let Yjk be the weight of the output Ojk and Xjk be the weight of the input Ijk. Which of the following is the correct objective function of the DEA if we solve it as LP?
Min Yjk * Ijk
Max Yjk * Ojk
Min Yjk * Ojk
Max – (Yjk * Ijk)
Correct answer
Max Yjk * Ojk
A hypothesis was tested at 5% significance level and p-value turned out to be 0.054. What will be your correct decision?
Reject the null hypothesis
Fail to reject the null hypothesis
Sufficient evidence to accept the null hypothesis
both Fail to reject the null hypothesis and Sufficient evidence to accept the null hypothesis are correct
Correct answer
Fail to reject the null hypothesis
What is the meaning of an Elasticity of 2?
10% reduction in price will yield a 20% increase in sales
10% reduction in price will yield a 20% decrease in sales
25% increase in price will yield 50% increase in sales
25% increase in price will yield 50% decrease in sales
Correct answers
10% reduction in price will yield a 20% increase in sales
25% increase in price will yield 50% decrease in sales
There are 7 business units and you are using the DEA to compare them. You solve the LP for business unit 5. You find from the constraint expression that business unit 6 has obtained an efficiency of 1 and business unit 7 has obtained an efficiency of 1 with the optimal weights of business unit 5. Which of the following statements is correct?
Business unit 6 may be inefficient
Business unit 6 will be efficient
Business unit 7 may be inefficient
Business unit 7 will be efficient
Correct answers
Business unit 6 will be efficient
Business unit 7 will be efficient
Using the data given in Table 1, answer the given subquestions
Table 1
| Classification confusion matrix | ||
|---|---|---|
| Predicted Class | ||
| Actual Class | 1 | 0 |
| 1 | 187 | 19 |
| 0 | 63 | 31 |
What is the Precision for predicting 0’s ? (enter your value in percentage without the percentage symbol, rounded to two decimal places. Eg: If your answer is 0.12345, enter the answer as “12.3”)
Correct answer: 0.62 (accepted within ±0.01)
Using the data given in Table 1, answer the given subquestions
Table 1
| Classification confusion matrix | ||
|---|---|---|
| Predicted Class | ||
| Actual Class | 1 | 0 |
| 1 | 187 | 19 |
| 0 | 63 | 31 |
What is the Recall for predicting 0’s ? (enter your value in percentage without the percentage symbol, rounded to two decimal places. Eg: If your answer is 0.12345, enter the answer as “12.3”)
Correct answer: 0.33 (accepted within ±0.02)
Using the data given in Table 1, answer the given subquestions
Table 1
| Classification confusion matrix | ||
|---|---|---|
| Predicted Class | ||
| Actual Class | 1 | 0 |
| 1 | 187 | 19 |
| 0 | 63 | 31 |
What is the accuracy of the predictor? (enter your value in percentage without the percentage symbol, rounded to two decimal places. Eg: If your answer is 0.12345, enter the answer as “12.3"]
Correct answer: 0.725 (accepted within ±0.015)
Using the data given in Table 1, answer the given subquestions
Table 1
| Classification confusion matrix | ||
|---|---|---|
| Predicted Class | ||
| Actual Class | 1 | 0 |
| 1 | 187 | 19 |
| 0 | 63 | 31 |
How many False Positives is the model predicting?
Correct answer: 63
Using the data given in Table 1, answer the given subquestions
Table 1
| Classification confusion matrix | ||
|---|---|---|
| Predicted Class | ||
| Actual Class | 1 | 0 |
| 1 | 187 | 19 |
| 0 | 63 | 31 |
How many True Negatives is the model predicting?
Correct answer: 31
A manufacturer is going to make a product, and he is exploring possible variants (V1, V2, V3, V4, V5) to it. The variants of the products are determined by 3 attributes (A1, A2, A3). The variant-wise attribute scores are presented in the Table 1. The pair-wise preferences data based on the consumer’s evaluation is going to be collected. Using this information, answer the given subquestions.
What type of Conjoint Analysis is performed here?
Choice-Based Conjoint Analysis
Adaptive Conjoint Analysis
Full-profile Conjoint Analysis
Menu-based Conjoint Analysis
Correct answer
Choice-Based Conjoint Analysis
A manufacturer is going to make a product, and he is exploring possible variants (V1, V2, V3, V4, V5) to it. The variants of the products are determined by 3 attributes (A1, A2, A3). The variant-wise attribute scores are presented in the Table 1. The pair-wise preferences data based on the consumer’s evaluation is going to be collected. Using this information, answer the given subquestions.
How many pairs (for comparisons) will be generated in this problem?
Correct answer: 15
A manufacturer is going to make a product, and he is exploring possible variants (V1, V2, V3, V4, V5) to it. The variants of the products are determined by 3 attributes (A1, A2, A3). The variant-wise attribute scores are presented in the Table 1. The pair-wise preferences data based on the consumer’s evaluation is going to be collected. Using this information, answer the given subquestions.
Then what is the size of the set of options on which the preference judgements are made?
Correct answer: 5
