Questions And Answers With Verified
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Updated 2026
Which term can be used to describe managerial decisions? - ANSWER✔✔
Prescriptive
2 reasons for the increase in use of analytics in organizational decision making? -
ANSWER✔✔ 1. Relatively low cost of computer storage
2. Higher computer processing power
How does probability theory inform decision-making for managers? -
ANSWER✔✔ By quantifying risk
Which type of data are the Olympic medals of gold, silver, and bronze examples
of? - ANSWER✔✔ Ordinal data
What are two aspects of data quality management? - ANSWER✔✔ 1. it reduces
the amount of incomplete data
2. it cleans data
2 attributes of data quality issues when evaluating sets of nominal data? -
ANSWER✔✔ 1. missing data
2. misspelled data
All scales are calibrated prior to use in measurement. Which type of error should
this reduce? - ANSWER✔✔ Systemic error
An advertising manager creates a research study by presenting low, medium, or
high frequency of the same ad in matched markets. The manager then reports on
sales in each market location. What is the term for the different sales in this study?
- ANSWER✔✔ Response variable
A healthcare study follows a sample over time to identify how health habits of
teenagers impact their likelihood of acquiring disease later in life. Which type of
, research design does this study describe? - ANSWER✔✔ Cohort study (a cohort
study studies a group of people with a defining characteristic, typically with a
common event in a period, such as birth or graduation)
The likelihood of a record having a missing value is correlated to another variable
in the dataset. Which two types of errors might be introduced into the dataset if the
removed record included missing values? - ANSWER✔✔ 1. Systematic Error
2. Omission error
Which two variables would be used in determining a campaign to maximize
revenue gain from email advertising? - ANSWER✔✔ 1. Number of purchases per
2. Spending per purchase
A company that raises turkeys is hoping to increase their rate of growth while
controlling cost of feed. Which decision-making technique is most appropriate to
minimize cost of feeding birds? - ANSWER✔✔ Linear programming ( achieve the
best outcome in a mathematical model whose requirements are represented by
linear relationships)
Compare outcomes of different drug testing results - ANSWER✔✔ ANOVA
(analyze differences among group means in a sample)
Understand effective marketing to spend ad dollars efficiently - ANSWER✔✔
Correlation
Monitor production process - ANSWER✔✔ Control charts
Which two techniques apply in finding the probability that a patient needs
treatment for a broken bone AND a concussion? - ANSWER✔✔ 1. intersection
2. multiplication principle
Which statistical rule can be used to determine the probability that a customer buys
a plumbing product GIVEN THAT this customer has purchased an electrical
product? - ANSWER✔✔ Bayes theorem
Which tool is used to illustrate a relationship or correlation between two variables?
- ANSWER✔✔ Scatterplot