C207 - DATA-DRIVEN DECISION MAKING -
PRE-ASSESSMENT QUESTIONS AND
ANSWERS 100% CORRECT!!
, Analytics is a broad term that refers to a variety of tools that inform managerial
decisions. - ANSWER Prescriptive
What are two reasons for the increasing use of analytics in organizational decision
making? - ANSWER Relatively lower cost of computer storage
Higher computer processing power
In what way 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 some of the aspects of data quality management? - ANSWER It cleans data
It reduces the amount of incomplete data.
Which two attributes indicate potential data quality issues when evaluating a set of
nominal data? - ANSWER Missing data
Misspelled data
When conducting a study that measures an individual's weight, all scales are calibrated
prior to use in measurement. Which type of error should this procedure significantly
reduce? - ANSWER Systematic error
An advertising manager creates a research study by presenting low, medium, or high
frequency of the same ad in matched markets. The manager reports on sales in each
market location. What is the term for the different sales in this study? - ANSWER The
response variable
A healthcare study follows a particular sample over time to identify how the health
habits of teenagers impart their likelihood of acquiring various diseases later in their life
in the hope that the healthcare organization will be able to create early prevention
programs. Which type of research design does this study describe? - ANSWER Cohort
Study
Several missing values in a particular field in a dataset were observed. The likelihood of
a records having a missing value is correlated to another variable in the dataset. Which
two types of error might be introduced into the dataset if the removed record included
missing values? - ANSWER Omission Error
Systematic Error
PRE-ASSESSMENT QUESTIONS AND
ANSWERS 100% CORRECT!!
, Analytics is a broad term that refers to a variety of tools that inform managerial
decisions. - ANSWER Prescriptive
What are two reasons for the increasing use of analytics in organizational decision
making? - ANSWER Relatively lower cost of computer storage
Higher computer processing power
In what way 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 some of the aspects of data quality management? - ANSWER It cleans data
It reduces the amount of incomplete data.
Which two attributes indicate potential data quality issues when evaluating a set of
nominal data? - ANSWER Missing data
Misspelled data
When conducting a study that measures an individual's weight, all scales are calibrated
prior to use in measurement. Which type of error should this procedure significantly
reduce? - ANSWER Systematic error
An advertising manager creates a research study by presenting low, medium, or high
frequency of the same ad in matched markets. The manager reports on sales in each
market location. What is the term for the different sales in this study? - ANSWER The
response variable
A healthcare study follows a particular sample over time to identify how the health
habits of teenagers impart their likelihood of acquiring various diseases later in their life
in the hope that the healthcare organization will be able to create early prevention
programs. Which type of research design does this study describe? - ANSWER Cohort
Study
Several missing values in a particular field in a dataset were observed. The likelihood of
a records having a missing value is correlated to another variable in the dataset. Which
two types of error might be introduced into the dataset if the removed record included
missing values? - ANSWER Omission Error
Systematic Error
