with solutions
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? - ANSWER Prescriptive
What are two reasons for the increasing use of analytics in organizational decision-making? -
ANSWER Relatively lower cost of computer storage; Higher computer processing power
How does probability theory inform decision-making for managers? - ANSWER By quantifying
risk
Which type of data are the Olympic medals of gold, silver, and bronze examples of? - ANSWER
Ordinal data
What are two aspects of data quality management? - ANSWER It reduces the amount of
incomplete data.; It cleans data.
Which two attributes indicate potential data quality issues when evaluating a set of nominal
data? - ANSWER Missing data; misspelled data
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? - ANSWER
systematic
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? - ANSWER response variable
, 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. The healthcare
organization hopes this data will allow them to create early prevention programs.Which type of
research design does this study describe? - ANSWER Cohort Study
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.Which two types of error
might be introduced into the dataset if the removed record included missing values? - ANSWER
Systematic and Omission Error
A company is trying to increase its online sales revenue by improving its email advertising
campaign for repeat customers as well as new customers.Which two variables would be used in
determining a campaign to maximize revenue gain? - ANSWER Number of purchases per email;
spending per purchase
A company that raises turkeys is hoping to increase the rate of growth of the turkeys while
controlling the cost of feeding them. It has determined that feeds containing both nutrients and
protein can be used.Which decision-making technique is most appropriate for this company to
minimize the cost of feeding the birds? - ANSWER Linear Programming
Compare outcomes of different drug testing results - ANSWER ANOVA
Understand effective marketing to spend advertising dollars efficiently - ANSWER Correlation
Monitor production process - ANSWER Control Charts
A researcher concludes that bananas create healthy children because the researcher's notes
indicate that children who eat a banana every day are healthy.Which misuse of statistics would
this study be an example of if these children also eat a balanced diet and exercise daily -
ANSWER Confusion of association and causality