EXAM |COMPLETE 500 QUESTIONS WITH
DETAILED VERIFIED CORRECT ANSWERS |PRE-
EVALUATED A+
Random Errors - ANSWER-Error in measurement caused by unpredictable statistical fluctuations
Information Bias - ANSWER-A prejudice in the data that results when either the respondent or the
interviewer has an agenda and is not presenting impartial questions or responding with truly honest
responses, respectively
Ratio Data - ANSWER-Similar to interval data in that the data is ordered within a range and with each
data point being an equal interval apart, also has a natural zero point which indicates none of the given
quality
Data Set - ANSWER-A collection of related data records on a storage device.
,Nominal Data - ANSWER-Sometimes called categorical data or qualitative data, this data type is used to
label subjects or data by name
Reliable Data - ANSWER-Data that is consistent and repeatable
Davenport-Kim Three Stages Model - ANSWER-A decision-making model developed by Thomas
Davenport and Jinho Kim that consists of three stages:
Framing the problem
Solving the problem
Communicating the problem
Blind study - ANSWER-A study performed where the participants are not told if they are in the
treatment group or control group
Double-Blind Study - ANSWER-A study performed where neither the treatment allocators nor the
participant knows which group the participant is in
Measurement Bias - ANSWER-A prejudice in the data that results when the sample is not representative
of the population being represented.
Analytics - ANSWER-The discovery, analysis, and communication of meaningful patterns in data.
Data Management - ANSWER-The management, including the cleaning and storage, of collected data
Triple-Blind Study - ANSWER-A study performed where neither the treatment allocator nor the
participant nor the response gatherer knows which group the participant is in
Omission Error - ANSWER-An error because something ( for example, data or survey responses) is
missing.
Relational Database - ANSWER-A database structured to recognize relations among stored items of
information
, Ordinal Data - ANSWER-Data that places data objects into an order according o some quality with higher
order indicating more of that quality
Discrete Data - ANSWER-Data that can only take on whole values and has clear boundaries
Interval Data - ANSWER-Data that is ordered within a range and with each data point being an equal
interval apart
Valid Data - ANSWER-Data resulting from a test that accurately measures what it is intended to measure
Big Data - ANSWER-A catch-phrase that describes a massive volume that is so large that it's difficult to
process using traditional database software techniques
Systematic errors - ANSWER-Errors in measurement that are constant within a data set, sometimes
caused by faulty equipment or bias.
Benchmarks - ANSWER-Standards or points of reference for an industry or sector that can be used for
comparison and evaluation.
Continuous Data - ANSWER-Data that can lay along any point in a range of data
Statistics - ANSWER-The science that deals with the interpretation of numerical facts or data though
theories of probability. Also, the numerical facts or data themselves.
Decision Tree Analysis - ANSWER-The diagram of possible alternatives and their expected consequences
in order to formulate passible courses of action in order to make decisions
Expected Monetary Value (EMV) Analysis - ANSWER-A statistical technique that calculates the average
outcome when the future includes scenarios that may or may not happen.