WPC 300 QUIZ 1 (QUESTIONS AND ANSWERS) GRADED
A+
Which of the following statements is true?
a - experimentation is a way of analytical thinking
b - analytical thinking is not based on facts
c - using intuition is a way of analytical thinking
d - heuristic thinking is slow Answer - a - experimentation is a way of analytical
thinking
__________ refers to a bias that causes an individual to value an owned object
higher than its market value Answer - endowment effect
predictive analytics may be applied to ___________, which is a set of
techniques that use descriptive data and forecasts to identify the decisions
most likely to result in the best performance. Answer - prescriptive analytics
when you keep eating the food you don't like precisely because you already
bought the food, you are committing __________. Answer - sunk-cost fallacy
in an agile approach of analytics, what is the last step of the process? Answer -
evaluate & improve
A+
Which of the following statements is true?
a - experimentation is a way of analytical thinking
b - analytical thinking is not based on facts
c - using intuition is a way of analytical thinking
d - heuristic thinking is slow Answer - a - experimentation is a way of analytical
thinking
__________ refers to a bias that causes an individual to value an owned object
higher than its market value Answer - endowment effect
predictive analytics may be applied to ___________, which is a set of
techniques that use descriptive data and forecasts to identify the decisions
most likely to result in the best performance. Answer - prescriptive analytics
when you keep eating the food you don't like precisely because you already
bought the food, you are committing __________. Answer - sunk-cost fallacy
in an agile approach of analytics, what is the last step of the process? Answer -
evaluate & improve
