9/8/22, 1:49 PM Assessment Review - Corporate Finance Institute

Corporate Finance Institute

Statistics Fundamentals

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Main Question Set

Correct Answer

Partially Correct

Incorrect Answer

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1 The empirical rule is commonly used in which branch of statistics?

Your Answer
Inferential statistics

Correct Answer
Inferential statistics

Explanation
None.

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2 The distribution of returns on U.S. bonds (a conservative investment) would be best described as:

Your Answer
Leptokurtic

Correct Answer
Platykurtic

Explanation
None.

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3 The graph below is most accurately described as being:

Your Answer
Positive-skewed

Correct Answer
Positive-skewed

Explanation
None.

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4 Which visualization is useful for visualizing the correlation between two variables?

Your Answer
Scatter plot

Correct Answer
Scatter plot

Explanation
None.

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5 When comparing two samples of different sizes in Excel, which option should you select from the Data
Analysis tool?

Your Answer
T-test: Two-Sample Assuming Unequal Variances

Correct Answer
T-test: Two-Sample Assuming Unequal Variances

Explanation
None.

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6 A company has an NPS score of 42. The scores have a variance of 125. What is the standard deviation?

Your Answer
√(125)

Correct Answer
√(125)

Explanation
None.

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7 When conducting a hypothesis test, the sample size needed can vary based on the population you are
studying. However, as a rule of thumb, what is the minimum sample size we should use for a one-tail or
two-tail test?

Your Answer
30

Correct Answer
30

Explanation
None.

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8 The Central Limit Theorem tells us _________ trends towards ________ as our sample size grows.

Your Answer
the distribution of sample means; the normal distribution

Correct Answer
the distribution of sample means; the normal distribution

Explanation
None.

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9 The alpha value is equal to _____________ and describes the expected rate of _________.

Your Answer
1 - confidence level; type I errors

Correct Answer
1 - confidence level; type I errors

Explanation
None.

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10 The beta value is equal to _____________ and describes the expected rate of _________.

Your Answer
1 - power; type II errors

Correct Answer
1 - power; type II errors

Explanation
None.

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11 How can we reduce the chances of a type I error (false positive)?

Your Answer
Increasing our sample size

Correct Answer
Increasing our sample size

Explanation
None.

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12 Which of the following are examples of p-hacking? (Select all that apply).

Your Answer
Increasing your sample gradually until your test results reject the null hypothesis.
Changing around variables to see if your test results change.

Correct Answer
Trying the test again with a new sample to see if it becomes more significant.
Removing outliers after conducting the hypothesis test to see if it changes your results.
Increasing your sample gradually until your test results reject the null hypothesis.
Changing around variables to see if your test results change.

Explanation
None.

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Case Study

13 Conduct a t-test. Use the data provided in the 04-Exam-ABTest-Data.csv.

Your confidence level for this test will be at 95%.

What is the p-value for our test?

Your Answer
0.001567

Correct Answer
0.001567

Explanation
None.

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14 Our confidence level is 95%. Based on the results of our t-test, how will we conclude our test?

Your Answer
reject the null hypothesis

Correct Answer
reject the null hypothesis

Explanation
None.

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15 The difference between our samples is statistically significant.

To describe the effect size of the new branding, we decide to run the Cohen's d calculation. Using the
results of the test and the standard deviation of our old branding, calculate the effect size.

Which of the following best describes our effect size?

Your Answer
small

Correct Answer
small

Explanation
None.

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