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L15.2082 - Statistics for Business and Economics (2024/2025)

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Which of the code lines listed below was used to create this graph?

box

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Your employer, Mars Inc., is planning to launch a new premium chocolate bar. Choosing the right supplier of cocoa beans will be critical.  The plot below represents the distribution of the ratings of chocolate bars sourced from the top 5 largest cocoa bean producers. 

 

v2

Based on this information, what source would you choose? Carefully explain why, supporting your arguments with numerical measures.

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You just ran the following line of code:

iqr(df.choc$rating)

And got the following error message:

Error in iqr(df.choc$rating) : could not find function "iqr"

There is something wrong with your code! Select the correct code line from the options listed below.

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Consider the following descriptive statistics on a large sample of north American chocolate bars:

summary_stats

Now consider the graph below. 

big_scatter

Based on the information provided, carefully describe what you have learnt about the two variables and their relationship.

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Consider the following descriptive statistics on a large sample of north American chocolate bars:

summary

Which of the plots below is a correct depiction of the variable "cocoa_percent"?

boxes_c

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Consider the following research summary:

"To test the widespread idea that chocolate is harmful in instances of acne vulgaris, 65 subjects with moderate acne ate either a bar containing ten times the amount of chocolate in a typical bar, or an identical-appearing bar which contained no chocolate. Counting of all the lesions on one side of the face before and after each ingestion period indicated no difference between the bars."

a) What is the treatment? What are the treatment and control groups?

b) What are the explanatory and response variables?

c) Discuss one possible limitation of this study. 

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You just started your summer internship as a Business Analyst at Mars Inc, one of the world's leading manufacturers of chocolate. Your are handed one single task for the next 3 months - find out what are the key determining factors of a successful chocolate product.

As your time with the company will be short, there will be no time to collect new data. For this project, you will rely on the company's product and sales database. 

a) What is the population of interest?

b) What is the unit of analysis?

c) What is the sampling method used? Does your data represent the intended population?

d) What is the data collection method used? Is this primary or secondary data?

e) Is this research project descriptive or causal? Why?

f) List 5 variables that you would collect (at least two quantitative and two qualitative). For each variable indicate its type and whether it is an explanatory or a response variable.

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I affirm that this exam represents my own work, without the use of any unpermitted aids or resources. I understand that there will be no tolerance towards academic dishonesty, and that cheating will lead to automatic failure as well as a report to the Academic Integrity Committee.

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