Find Interview Questions for Phronesis partners

Right Answer:
Time and material contracts are agreements where a client pays for the actual time spent by the contractor's employees and the materials used in the project, rather than a fixed price.

Right Answer:
A prototype is an early model or sample of a product used to test and validate ideas before full-scale development. An analysis prototype is a preliminary version of a system created to explore and clarify requirements, allowing stakeholders to visualize and refine their needs before finalizing the design.

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Data analysis is the process of inspecting, cleaning, and modeling data to discover useful information, draw conclusions, and support decision-making. It is important because it helps organizations make informed decisions, identify trends, improve efficiency, and solve problems based on data-driven insights.

Right Answer:
The different types of data distributions include:

1. Normal Distribution
2. Binomial Distribution
3. Poisson Distribution
4. Uniform Distribution
5. Exponential Distribution
6. Log-Normal Distribution
7. Geometric Distribution
8. Beta Distribution
9. Chi-Squared Distribution
10. Student's t-Distribution

Right Answer:
Exploratory Data Analysis (EDA) is the process of analyzing and summarizing datasets to understand their main characteristics, often using visual methods. It helps identify patterns, trends, and anomalies in the data before applying formal modeling techniques.

Right Answer:
Regression analysis is a statistical method used to examine the relationship between one dependent variable and one or more independent variables. It is used to predict outcomes, identify trends, and understand the strength of relationships in data.

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SQL (Structured Query Language) is used in data analysis to query, manipulate, and manage data stored in relational databases. It allows analysts to retrieve specific data, perform calculations, filter results, and aggregate information to derive insights from large datasets.

Right Answer:
External factors that determine the dividend policy include:

1. Economic conditions
2. Industry trends
3. Tax policies
4. Regulatory environment
5. Market competition
6. Shareholder expectations
7. Availability of profitable investment opportunities
8. Company’s financial health and cash flow状况

Right Answer:
Inter-corporate Deposits (ICDs) are short-term loans or deposits made by one company to another, typically for a period ranging from a few days to a few months.

Main characteristic features of ICDs include:

1. **Short-term Nature**: Usually for a duration of 7 days to 1 year.
2. **Interest Rate**: Generally higher than bank deposits but lower than other forms of borrowing.
3. **Unsecured**: Often not backed by collateral, relying on the creditworthiness of the borrowing company.
4. **Flexibility**: Can be customized in terms of amount and duration based on mutual agreement.
5. **Liquidity**: Provides quick access to funds for the borrowing company.

Right Answer:
The rate of interest for debentures is decided by the issuing company based on market conditions, credit rating, and investor demand.

Right Answer:
A bank may require various forms of security from a company, including:

1. **Collateral**: Assets such as real estate, equipment, or inventory that can be seized if the loan is not repaid.
2. **Personal Guarantees**: A promise from the business owners to repay the loan using personal assets if the company defaults.
3. **Letters of Credit**: A bank's promise to pay a seller on behalf of the buyer, ensuring payment security.
4. **Cash Reserves**: A portion of cash held in a bank account that can be used to cover loan payments.
5. **Insurance Policies**: Policies that protect against risks that could affect the company's ability to repay the loan.

Right Answer:
**Advantages of Credit Rating:**
1. **Risk Assessment:** Helps investors assess the credit risk of borrowers.
2. **Lower Borrowing Costs:** Higher ratings can lead to lower interest rates for issuers.
3. **Marketability:** Rated securities are often more attractive to investors.
4. **Transparency:** Provides a standardized measure of creditworthiness.

**Limitations of Credit Rating:**
1. **Subjectivity:** Ratings can be influenced by subjective judgments.
2. **Lagging Indicator:** Ratings may not reflect current financial conditions promptly.
3. **Over-reliance:** Investors may rely too heavily on ratings without conducting their own analysis.
4. **Potential Conflicts of Interest:** Rating agencies may face conflicts if paid by the issuers they rate.

Right Answer:
The RETAIN statement is used to keep the value of a variable from one iteration of a data step to the next in SAS programming.

Right Answer:
I handle shifting priorities by staying flexible and open to change. I prioritize tasks based on the new requirements, communicate with my team to ensure everyone is aligned, and adjust my workflow to accommodate the changes while maintaining focus on project goals.

Right Answer:
To balance flexibility with staying focused on core objectives, I prioritize my goals and regularly review them. I remain open to new ideas and changes but ensure that any adjustments align with my main objectives. This way, I can adapt as needed while keeping my focus on what’s most important.

Right Answer:
In my previous job, I was assigned to a project that required knowledge of a new programming language, Python. I had only a basic understanding of it, so I dedicated a week to online courses and tutorials. I practiced by building small projects and sought help from colleagues who were experienced in Python. By the end of the week, I was able to contribute effectively to the project, and we successfully met our deadlines.

Right Answer:
Adaptability in a professional setting means being open to change, adjusting to new situations, and being flexible in response to challenges or shifting priorities while maintaining productivity and effectiveness.