WGU C207 OA Data-Driven Decision Making Exam Questions and Answers (2022/2023) (Verified Answers)

WGU C207 OA Data-Driven Decision Making Exam Questions and Answers (2022/2023) (Verified Answers) Prescriptive 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? Relatively lower cost of computer storage & Higher computer processing power What are two reasons for the increasing use of analytics in organizational decision-making? By quantifying risk How does probability theory inform decision-making for managers? Ordinal Data Which type of data are the Olympic medals of gold, silver, and bronze examples of? It reduces the amount of incomplete data & It cleans data What are two aspects of data quality management? Missing Data & Misspelled data Which two attributes indicate potential data quality issues when evaluating a set of nominal data? Systematic Error 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? Response Variable 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