Guide Question and answers verified
to pass 2025/2026
Which term can be used to describe managerial decisions? - correct answer ✔Prescriptive
2 reasons for the increase in use of analytics in organizational decision making? - correct answer ✔1.
Relatively low cost of computer storage
2. Higher computer processing power
How does probability theory inform decision-making for managers? - correct answer ✔By quantifying
risk
Which type of data are the Olympic medals of gold, silver, and bronze examples of? - correct answer
✔Ordinal data
What are two aspects of data quality management? - correct answer ✔1. it reduces the amount of
incomplete data
2. it cleans data
2 attributes of data quality issues when evaluating sets of nominal data? - correct answer ✔1. missing
data
2. misspelled data
All scales are calibrated prior to use in measurement. Which type of error should this reduce? - correct
answer ✔Systemic 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? - correct answer ✔Response variable
A healthcare study follows a sample over time to identify how health habits of teenagers impact their
likelihood of acquiring disease later in life. Which type of research design does this study describe? -
correct answer ✔Cohort study (a cohort study studies a group of people with a defining characteristic,
typically with a common event in a period, such as birth or graduation)
The likelihood of a record having a missing value is correlated to another variable in the dataset. Which
two types of errors might be introduced into the dataset if the removed record included missing values?
- correct answer ✔1. Systematic Error
2. Omission error
Which two variables would be used in determining a campaign to maximize revenue gain from email
advertising? - correct answer ✔1. Number of purchases per email
2. Spending per purchase
A company that raises turkeys is hoping to increase their rate of growth while controlling cost of feed.
Which decision-making technique is most appropriate to minimize cost of feeding birds? - correct
answer ✔Linear programming ( achieve the best outcome in a mathematical model whose
requirements are represented by linear relationships)
Compare outcomes of different drug testing results - correct answer ✔ANOVA (analyze differences
among group means in a sample)
Understand effective marketing to spend ad dollars efficiently - correct answer ✔Correlation
Monitor production process - correct answer ✔Control charts