ANSWERS
Question:
1. Prescriptive
Answer:
Analytics is a broad term that refers to a variety of tools that inform managerial decisions. Which term can
be used to describe managerial decisions
Question:
2. Relatively lower cost of computer storage Higher computer processing power
Answer:
What are two reasons for the increasing use of analytics in organizational decision making? Choose 2
answers
Question:
3. By quantifying risk
Answer:
In what way does probability theory inform decision-making for managers?
Question:
4. Ordinal data
Answer:
Which type of data are the Olympic medals of gold, silver, and bronze examples of?
Question:
5. It reduces the amount of incomplete data. It cleans data.
Answer:
What are some of the aspects of data quality management? Choose 2 answers
Question:
6. Missing data Misspelled data
Answer:
Which two attributes indicate potential data quality issues when evaluating a set of nominal data? Choose 2
answers
Question:
7. Systematic error
Answer:
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?
Question:
8. The response variable
, Answer:
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?
Question:
9. Cohort study
Answer:
A healthcare study follows a particular sample over time to identify how the health habits of teenagers
impact 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?
Question:
10. Systematic error Omission error
Answer:
Several missing values in a particular field in a dataset were observed. The likelihood of a record 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? Choose 2 answers
Question:
11. Number of purchases per e-mail Cost per e-mail
Answer:
Which two variables would be used in determining a campaign to maximize revenue gain? Choose 2
answers A company is trying to increase its online sales revenue by improving its e-mail advertising
campaign for repeat customers as well as new customers.
Question:
12. Compare outcomes of different drug testing results ANOVA Understand effective marketing to spend
advertising dollars efficiently Correlation Monitor production process Control charts
Answer:
Match each action with the appropriate statistical procedure. Answer options may be used more than once or
not at all. (3)
Question:
13. Confusion of association and causality A researcher concludes that bananas create
Answer:
healthy children because the researcher's notes indicate that children who eat a banana every day are
healthy. Which misuse of statistics would this study be an example of if these children also eat a balanced
diet and exercise daily?
Question:
14. Does a causal relationship truly exist?