BUS 211 Management - Ch. 14 Data Analysis and Decision Making QUESTIONS AND ANSWERS

BUS 211 Management - Ch. 14 Data Analysis
and Decision Making QUESTIONS AND
ANSWERS


data-based decisions - Correct Answer - ______-_______ _____________s use information facts, and
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measures, usually in numerical form, as the primary basis for choosing among alternatives
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inductive reasoning - Correct Answer - ___________ _____________ uses the analysis of specific data to
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Mdraw broader conclusions
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deductive reasoning - Correct Answer - __________ __________ takes general principles and uses them
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to make predictions about specific situations or circumstances
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statistics - Correct Answer - _____________ are mathematical tools used for more advanced numerical
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analysis in business
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raw data - Correct Answer - _____ ______ consist of information not yet processes for meaningful use
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processed data - Correct Answer - _____________ ______ have been checked for accuracy and
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organized in a way to make them understandable and usable
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managers gather and analyze information to keep decisions objective and as free from bias as possible -
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Correct Answer - *why should managers use data to aid them in decision making?*
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managers g_________ and a_________ information to keep decisions ___________ and as free from
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______ as possible
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calculate, compare, plan, analyze, project - Correct Answer - *what are the five common activities
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managers complete that require mathematics skills?*
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c___________,

c____________,

p_____,

a___________,

p___________

fraction - Correct Answer - ___________ is a part of a whole number expressed as a proportion
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ratio - Correct Answer - _______ is the relationship between two quantities
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