Data-Driven Decision Making PVPC Exam 67
Questions with Verified Answers
a - CORRECT 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?
a. Prescriptive
b. Predictive
c. Pareto chart
d. Biased
a, d - CORRECT ANSWER What are two reasons for the increasing use of analytics
in organizational decision making?
a. Relatively lower cost of computer storage
b. Lower availability of statistical experts
c. Higher cost of obtaining data
d. Higher computer processing power
a - CORRECT ANSWER In what way does probability theory inform decision-
making for managers?
a. By quantifying risk
b. By quantifying data
,c. By quantifying quality
d. By quantifying costs
b - CORRECT ANSWER Which type of data are the Olympic medals of gold, silver,
and bronze examples of?
a. Nominal data
b. Ordinal data
c. Interval data
d. Ratio data
b, d - CORRECT ANSWER What are two aspects of data quality management?
a. It calculates spurious data.
b. It reduces the amount of incomplete data.
c. It monitors data input rates.
d. It cleans data.
b, d - CORRECT ANSWER Which two attributes indicate potential data quality
issues when evaluating a set of nominal data?
a. Outlier data
b. Missing data
c. Out-of-range data
d. Misspelled data
, a - CORRECT 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?
a. Systematic error
b. Omission error
c. Random error
d. Information error
c - CORRECT 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?
a. The experimental unit
b. The treatment
c. The response variable
d. The intervention
c - CORRECT 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?
a. Double blind study
b. Systematic study
c. Cohort study
d. Experimental study