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May 2022 term · Business Analytics · BSMS2002

Business Analytics Quiz 2: 10 July 2022 (May 2022 term)

The IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 10 Jul 2022, in the May 2022 term: 10 questions for 20 marks in 120 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.

Questions
10
Marks
20
Duration
120 min
MCQ
3
MSQ
1
Numerical
6
Take as mock testPractise with answers

Updated

Official paper: IIT M DIPLOMA QUIZ2 EXAM QPE1 10 July 2022 · No negative marking.

Question 1

+2 marksOne correct option

Suppose you conduct a chi-squared test of independence on the categorical variables cities and brand preferences at the significance level 0.05. You obtain a p-value of 0.07. What will you conclude?

  1. A

    Reject the null hypothesis and conclude that the categorical variables are independent

  2. B

    Reject the null hypothesis and conclude that the categorical variables are not independent

  3. C

    Fail to reject the null hypothesis and conclude that the categorical variables are independent

  4. D

    Fail to reject the null hypothesis and conclude that the categorical variables are not independent

Show answer

Correct answer

  • C

    Fail to reject the null hypothesis and conclude that the categorical variables are independent

Question 1 on its own page

Question 2

+2 marksOne correct option

There are 4 business units. Using the DEA, you solve the LP for all the four business units and find the efficiencies for these units. The efficiency is denoted by E. For these units, E1 = 0.83, E2 = 1, E3 = 0.57, E4 = 0.91. Which of these units are efficient?

  1. A

    Unit 1

  2. B

    Unit 2

  3. C

    Unit 3

  4. D

    Unit 4

Show answer

Correct answer

  • B

    Unit 2

Question 2 on its own page

Question 3

+2 marksOne correct option

You construct a linear regression on a price-demand dataset and observe the following trend.

After observing the above figure, choose which of the following statements are true?

  1. A

    The intercept and the slope of this regression are both negative

  2. B

    The intercept and the slope of this regression are both positive

  3. C

    The intercept is negative and the slope is positive

  4. D

    The intercept is positive and the slope is negative

Show answer

Correct answer

  • D

    The intercept is positive and the slope is negative

Question 3 on its own page

Question 4

+3 marksOne or more correct options

You solve the primal of a linear program with maximization objective, three decision variables and two constraints of the less than or equal to type. Non-negativity restrictions apply on the decision variables. After solving the linear program, you find that the first constraint is binding (lhs = rhs) and the second constraint is not binding (lhs < rhs). Which of the following statements are correct?

Select all that apply.

  1. A

    There are two decision variables in the dual

  2. B

    The dual variable corresponding to the second constraint is zero

  3. C

    There are three decision variables in the dual

  4. D

    The dual variable corresponding to the first constraint is zero

Show answer

Correct answers

  • A

    There are two decision variables in the dual

  • B

    The dual variable corresponding to the second constraint is zero

Question 4 on its own page

Question 5

+2 marksNumerical answer
Show answer

Correct answer: 6 (accepted within ±0.1)

Question 5 on its own page

Question 6

+2 marksNumerical answer

In a multiple linear regression with 4 explanatory variables, you find that R-squared value is 0.7. The number of observations is 25. What is the value of adjusted R-squared?

Show answer

Correct answer: 0.64 (accepted within ±0.02)

Question 6 on its own page

Question 7

+2 marksNumerical answer

You are conducting a multiple linear regression with sales as the dependent variable. Price, quantity and rating score are the independent variables. In order to calculate the VIF for the variable rating score, you implement a linear regression with rating score as the dependent variable and other variables as independent variables and obtain R-squared of 0.3. What is the VIF for the variable rating score?

Show answer

Correct answer: 1.41 (accepted within ±0.03)

Question 7 on its own page

Question 8

+1 markNumerical answer

Please use the confusion matrix below to answer the given subquestions.

The accuracy of the classification model according to the confusion matrix is:____________ Hint: Enter your answer in %. If your answer is 12%, just enter 12

Show answer

Correct answer: 80

Question 8 on its own page

Question 9

+2 marksNumerical answer

Please use the confusion matrix below to answer the given subquestions.

The precision of the model with respect to the class (Yes) is: ___________
Hint: Enter your answer in %. If your answer is 12%, just enter 12

Show answer

Correct answer: 75

Question 9 on its own page

Question 10

+2 marksNumerical answer

Please use the confusion matrix below to answer the given subquestions.

The recall of the model with respect to class (Yes) is: _____________
Hint: Enter your answer in %. If your answers is 12%, just enter 12

Show answer

Correct answer: 90

Question 10 on its own page