Correct Answer: B

A justifiable concern at this stage of the team's efforts is changing the mindsets of business stakeholders to trust insights gleaned from data over experience and intuition. This is because some stakeholders may have a strong attachment to their own opinions or beliefs, and may resist or ignore data that contradicts them. This can create a barrier to data-driven decision making, which requires a culture of curiosity, openness, and evidence-based reasoning. The team needs to communicate the value and validity of their data analysis, and persuade the stakeholders to adopt a data-driven mindset

Correct Answer: B

A funnel chart is a type of chart that shows the values of different stages of a process, such as a sales pipeline, where each stage represents a subset of the previous one. A funnel chart is useful for showing the conversion rate, the drop-off rate, and the potential revenue or profit at each stage. A funnel chart would be an effective way to present the data requested by the call center, as it would show the number of leads, calls, customers, and sales, as well as the percentage of change between each stage.

Correct Answer: D

A pie chart is a circular chart that shows the proportion of each category in a whole by dividing the circle into slices. A pie chart would result in confusion when comparing the number of sales for a specific model of electric car across all 50 US states, because it is difficult to compare the angles and areas of the slices, especially when there are many categories with similar values. A pie chart also does not show the absolute values of each category, unless they are labeled or annotated. A better alternative would be a bar chart, which can show the number of sales for each state along a common axis, making it easier to compare and rank the values

Correct Answer: D

The relationship between a Customer entity and an Order entity, where a customer entry will be present in the Customer entity only if they have made an order, is a zero-to-one relationship. This means that for each record in the Order entity, there can be either zero or one record in the Customer entity that is related to it. This implies that the Order entity is optional for the Customer entity, and the Customer entity is mandatory for the Order entity12

Correct Answer: C

The best action for the analyst to show value from the onset of their work is to develop a meaningful question that can be answered with data the company already has in its possession. This way, the analyst can demonstrate the potential of analytics to solve relevant business problems, without spending too much time or resources on data collection or market research. The question should also be aligned with the organization's strategy and goals, and provide actionable insights for decision making

Correct Answer: D

The analytics team found a correlation between the age of the customer and the price of the neckties purchased, meaning that as one variable changes, the other tends to change in the same direction. However, this correlation does not imply causation, meaning that one variable does not necessarily cause the other to change. There could be other factors, such as income, preference, or quality, that affect both variables and create a spurious relationship. Therefore, the team realized that they need to investigate further to determine if there is a causal link between the variables, or if the correlation is coincidental

Correct Answer: B

A graph visualization is a type of visualization that shows the relationships among data points by using nodes (or vertices) to represent the data points and edges (or links) to represent the connections between them1. A graph visualization can help reveal patterns, clusters, outliers, or hierarchies in the data2. In a graph visualization, an edge represents a link between two data points, indicating that they have some kind of association, interaction, similarity, or dependency3. For example, in a study on protein interactions, an edge could represent a physical or functional interaction between two proteins, such as binding, signaling, or regulation4.

A single data point, a collection of data points and links, and a dedicated algorithm that calculates the node positions are not correct definitions of an edge in a graph visualization. A single data point is represented by a node, not an edge, in a graph visualization. A collection of data points and links is the whole graph, not an edge, in a graph visualization. A dedicated algorithm that calculates the node positions is a method of graph layout, not an edge, in a graph visualization. A graph layout is the way the nodes and edges are arranged in a graph visualization, which can affect the readability, aesthetics, and interpretation of the graph.

Correct Answer: D

K-means clustering is a technique that partitions a set of data points into a predefined number of clusters, based on their similarity or distance. This technique can be useful to divide the customer base into groups that have similar characteristics, preferences, or behaviors, and then design insurance products that cater to each group's needs and expectations. K-means clustering can also help identify outliers or anomalies in the customer data that may require further investigation or attention.

References: Guide to Business Data Analytics, page 58-59; CBDA lueprint, page 7; [Introduction to Business Data Analytics: A Practitioner View], page 17.

Correct Answer: C

As explained in the previous question, a Gaussian Distribution, also known as a normal distribution, is represented by a symmetrical bell-shaped curve. The mean, median, and mode of the distribution are equal and are at the center of the distribution. This type of distribution is characterized by its mean and standard deviation. The curve is symmetrical around the mean. In the image, the curve labeled A is the only one that matches this description. The other curves are either skewed or irregular.

Correct Answer: B

A journey map is a visual representation of the interactions and experiences of a customer or stakeholder with an organization, product, or service over time. A journey map can help identify pain points, gaps, opportunities, and emotions along the customer journey. A journey map can also help understand the current state of the customer experience and how it can be improved or innovated using business analytics.