Decision Analysis - CBAD 292 questions
well answered to pass
consists of all observations or items of interest in an analysis - correct answer ✔✔Population
True or false: Raw data without knowledge of the business context is still useful - correct answer
✔✔False
Researchers were interested in the season records of the Major League baseball teams, including the Los
Angeles Dodgers, and the Cincinnati Reds Baseball team. Researchers collected the data at the end of
the season. This sample data collection method is considered to be: - correct answer ✔✔Cross-sectional
data
True or false: When defining the 3 Vs which are defining characteristics of big data, 'velocity' refers to the
immense amount of data compiled from a single source or a wide range of sources. - correct answer
✔✔False
Does Data privacy or data ethics include the question of how data is shared with third parties? - correct
answer ✔✔Data Privacy
Which of the following is an example of machine-generated data? - correct answer ✔✔Meteorological
data
Which of the following represent reasons that sampling is used to collect data? - correct answer
✔✔Population data is expensive
Obtaining all the population data is difficult, if not impossible
True or false: A 'variable' is defined as when a characteristic of interest differs in kind or degree among
various observations. - correct answer ✔✔True
, Business analytics translates data into decisions to improve business performance through - correct
answer ✔✔qualitative reasoning
quantitative tools
The difference between an interval and ratio variable is that interval variables contain a true zero point -
correct answer ✔✔False
Which of the following 'V's" are considered to be the 3 V's which are characteristics of big data? - correct
answer ✔✔Volume
Variety
Velocity
Data privacy evaluates moral problems related to data. - correct answer ✔✔False
Which of the following is true of structured data? - correct answer ✔✔Point-of-sale and financial data
are examples of structured data
Numerical variables can be discrete or continuous. An example of a discrete variable is: - correct answer
✔✔The number of students in my business analytics course
True or false: A weakness of 'ordinal data' is that we cannot interpret the difference between the ranked
value; For example, if someone finishes first, second, or third in a foot race, there is not necessarily the
same 'difference in time' between first place and second place, as there is between second place and
third place. - correct answer ✔✔True
An accounting professor wants to know the average GPA of the students enrolled in her class. She looks
up information on Blackboard about the students enrolled in her class and computes the average GPA as
3.29. - correct answer ✔✔True
Population parameter
well answered to pass
consists of all observations or items of interest in an analysis - correct answer ✔✔Population
True or false: Raw data without knowledge of the business context is still useful - correct answer
✔✔False
Researchers were interested in the season records of the Major League baseball teams, including the Los
Angeles Dodgers, and the Cincinnati Reds Baseball team. Researchers collected the data at the end of
the season. This sample data collection method is considered to be: - correct answer ✔✔Cross-sectional
data
True or false: When defining the 3 Vs which are defining characteristics of big data, 'velocity' refers to the
immense amount of data compiled from a single source or a wide range of sources. - correct answer
✔✔False
Does Data privacy or data ethics include the question of how data is shared with third parties? - correct
answer ✔✔Data Privacy
Which of the following is an example of machine-generated data? - correct answer ✔✔Meteorological
data
Which of the following represent reasons that sampling is used to collect data? - correct answer
✔✔Population data is expensive
Obtaining all the population data is difficult, if not impossible
True or false: A 'variable' is defined as when a characteristic of interest differs in kind or degree among
various observations. - correct answer ✔✔True
, Business analytics translates data into decisions to improve business performance through - correct
answer ✔✔qualitative reasoning
quantitative tools
The difference between an interval and ratio variable is that interval variables contain a true zero point -
correct answer ✔✔False
Which of the following 'V's" are considered to be the 3 V's which are characteristics of big data? - correct
answer ✔✔Volume
Variety
Velocity
Data privacy evaluates moral problems related to data. - correct answer ✔✔False
Which of the following is true of structured data? - correct answer ✔✔Point-of-sale and financial data
are examples of structured data
Numerical variables can be discrete or continuous. An example of a discrete variable is: - correct answer
✔✔The number of students in my business analytics course
True or false: A weakness of 'ordinal data' is that we cannot interpret the difference between the ranked
value; For example, if someone finishes first, second, or third in a foot race, there is not necessarily the
same 'difference in time' between first place and second place, as there is between second place and
third place. - correct answer ✔✔True
An accounting professor wants to know the average GPA of the students enrolled in her class. She looks
up information on Blackboard about the students enrolled in her class and computes the average GPA as
3.29. - correct answer ✔✔True
Population parameter
