Analytics is a broad term that refers to a variety of tools that
inform managerial decisions.
Prescriptive
Which term can be used to describe managerial decisions
What are two reasons for the increasing use of analytics in
Relatively lower cost of computer storage organizational decision making?
Higher computer processing power
Choose 2 answers
In what way does probability theory inform decision-mak-
By quantifying risk
ing for managers?
Which type of data are the Olympic medals of gold, silver,
Ordinal data
and bronze examples of?
What are some of the aspects of data quality manage-
It reduces the amount of incomplete data. ment?
It cleans data.
Choose 2 answers
Which two attributes indicate potential data quality issues
Missing data when evaluating a set of nominal data?
Misspelled data
Choose 2 answers
When conducting a study that measures an individual's
weight, all scales are calibrated prior to use in measure-
ment.
Systematic error
Which type of error should this procedure significantly
reduce?
An advertising manager creates a research study by pre-
senting low, medium, or high frequency of the same ad in
The response variable
matched markets. The manager then reports on sales in
each market location.
, What is the term for the ditterent sales in this study?
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
Cohort study in the hope that the healthcare organization will be able
to create early prevention programs.
Which type of research design does this study describe?
Several missing values in a particular field in a dataset
were observed. The likelihood of a record having a missing
value is correlated to another variable in the dataset.
Systematic error
Omission error Which two types of error might be introduced into the
dataset if the removed record included missing values?
Choose 2 answers
A company is trying to increase its online sales revenue
by improving its e-mail advertising campaign for repeat
customers as well as new customers.
Number of purchases per e-mail
Cost per e-mail Which two variables would be used in determining a cam-
paign to maximize revenue gain?
Choose 2 answers
Compare outcomes of ditterent drug testing results ANO-
VA Match each action with the appropriate statistical proce-
dure.
Understand ettective marketing to spend advertising dol-
lars eflciently Correlation Answer options may be used more than once or not at all.
(3)
Monitor production process Control charts
Confusion of association and causality