Exam answers for: Iva Obrovac for June 17 2022 14:39:55 Experiment Nation

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1. “PMF” stands for which of the following?
Answer Provided: ? Product-Market Fit

Correct Answer: Product-Market Fit

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2. If a program’s ratio of “successful” tests (aka “win rate”) to launched tests is constantly 50%, what should you suspect?
Answer Provided: ? The CRO is not testing meaningful hypotheses or picking the KPI after the experiment has concluded

Correct Answer: The CRO is not testing meaningful hypotheses or picking the KPI after the experiment has concluded

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3. What can we learn from tests run on sites that aren’t our own?
Answer Provided: ? What worked for them and their audience

Correct Answer: What worked for them and their audience

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4. Which of the following characterizes Value Propositions and Unique Selling Propositions?
Answer Provided: ? It is that very reason which motivates a buyer to purchase that product

Correct Answer: It is that very reason which motivates a buyer to purchase that product

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5. What is NOT a sign of a healthy Experimentation Culture?
Answer Provided: ? Experiment results do not alter any plans

Correct Answer: Experiment results do not alter any plans

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6. An experiment demonstrates a 10% decrease in conversion rate at a 99% confidence level. In what way is this still a ‘win’?
Answer Provided: ? You’ve saved the business time and money which they might have by implementing this costly feature

Correct Answer: You’ve saved the business time and money which they might have by implementing this costly feature

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7. Which of the following is an example of social proof?
Answer Provided: ? Customers like you also liked this.

Correct Answer: Customers like you also liked this.

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8. If your p-value is 0.05 then which of the following is TRUE?
Answer Provided: ? You have statistical significance

Correct Answer: There is a 5% probability that one would detect this result if there was no difference between variants

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9. Which of the following sources of data has the least amount of bias?
Answer Provided: ? Randomized Control Trial results

Correct Answer: Meta-analyses

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10. A test has a >50% lift to your primary metric. What is the first thing you should do?
Answer Provided: ? Sanity check your results

Correct Answer: Sanity check your results

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11. In A/B testing, a “control” is generally which of the following?
Answer Provided: ? The factor that isn’t changed during the test

Correct Answer: The version where no changes have been made

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12. What does “MVT” stand for?
Answer Provided: ? Multivariate Test

Correct Answer: Multivariate Test

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13. What is a false negative?
Answer Provided: ? It is when you don’t detect an effect when one exists

Correct Answer: It is when you don’t detect an effect when one exists

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14. Which of the following describes a “Holdout Group”?
Answer Provided: ? A control group that does not get exposed to a treatment/variation

Correct Answer: A control group that does not get exposed to a treatment/variation

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15. What of the following is NOT true about a Unique Selling (or Value) Proposition?
Answer Provided: ? Customers know what it is before landing on your property

Correct Answer: Customers know what it is before landing on your property

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16. What is Peeking?
Answer Provided: ? Looking at test results before the test is complete with the intention of ending the test.

Correct Answer: Looking at test results before the test is complete with the intention of ending the test.

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17. Which of the following is an example of scarcity?
Answer Provided: ? Only 7 left in stock.

Correct Answer: Only 7 left in stock.

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18. What does “ARPU” stand for?
Answer Provided: ? Average Revenue Per User

Correct Answer: Average Revenue Per User

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19. Which of the following is not a popular prioritization framework?
Answer Provided: ? SWOT

Correct Answer: SWOT

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20. What is a “Bonferroni Correction”?
Answer Provided: ? A way to control for false positives when analyzing multiple metrics

Correct Answer: A way to control for false positives when analyzing multiple metrics

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21. After you have completed your conversion audit and have a list of hypotheses, what is the next step you need to take?
Answer Provided: ? Prioritize the hypotheses based on your framework of choice

Correct Answer: Prioritize the hypotheses based on your framework of choice

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22. Which of the following is not one of Cialdini’s 6 Principles of Persuasion?
Answer Provided: ? Humour

Correct Answer: Humour

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23. Which BEST describes a CTA / call to action?
Answer Provided: ? A prompt telling the user to take an action

Correct Answer: A prompt telling the user to take an action

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24. Which is a benefit of testing extreme changes?
Answer Provided: ? Generating stronger signals to measure

Correct Answer: Generating stronger signals to measure

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25. Which of the following best describes why letting a test run longer than planned may not be beneficial?
Answer Provided: ? Experiment interaction is harder to plan for

Correct Answer: You are probably not testing something very impactful

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26. Select the option which BEST completes the following sentence, “Great Experiments ______”:
Answer Provided: ? Answer business questions

Correct Answer: Answer business questions

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27. Which of the following is TRUE of best practices?
Answer Provided: ? They are a good starting point for ideation and testing

Correct Answer: They are a good starting point for ideation and testing

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28. Which BEST describes experiment “Interaction Effects” ?
Answer Provided: ? When one experiment impacts the outcome of another

Correct Answer: When one experiment impacts the outcome of another

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29. Which BEST describes why you should always define a “Test Hypothesis”
Answer Provided: ? To ensure you learn, no matter what the test outcome because the experiment will either prove or disprove your hypothesis

Correct Answer: To ensure you learn, no matter what the test outcome because the experiment will either prove or disprove your hypothesis

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30. Which of the following is NOT an example of urgency?
Answer Provided: ? Customers like you also liked this.

Correct Answer: Customers like you also liked this.

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