C207 Pre-Assessment Questions and Answers!

C207 Pre-Assessment Questions and Answers!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? - ANSWER Predictive 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 quantifying risk Which type of data are the Olympic medals of gold, silver and bronze examples of? - ANSWER Ordinal data What are some aspects of data quality management? Choose 2 answers - 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 individuals 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 then 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 impact their likelihood of acquiring various diseases later in their life in the