Questions with Verified Answers
Prescriptive - CORRECT ANSWER Which term can be used to describe managerial
decisions?
1. Relatively low cost of computer storage
2. Higher computer processing power - CORRECT ANSWER 2 reasons for the
increase in use of analytics in organizational decision making?
By quantifying risk - CORRECT ANSWER How does probability theory inform
decision-making for managers?
Ordinal data - CORRECT ANSWER Which type of data are the Olympic medals of
gold, silver, and bronze examples of?
1. it reduces the amount of incomplete data
2. it cleans data - CORRECT ANSWER What are two aspects of data quality
management?
1. missing data
2. misspelled data - CORRECT ANSWER 2 attributes of data quality issues when
evaluating sets of nominal data?
, Systemic error - CORRECT ANSWER All scales are calibrated prior to use in
measurement. Which type of error should this reduce?
Response variable - 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?
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) - CORRECT ANSWER 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?
1. Systematic Error
2. Omission error - CORRECT ANSWER 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?
1. Number of purchases per email
2. Spending per purchase - CORRECT ANSWER Which two variables would be used
in determining a campaign to maximize revenue gain from email advertising?
Linear programming ( achieve the best outcome in a mathematical model whose
requirements are represented by linear relationships) - CORRECT ANSWER A
company that raises turkeys is hoping to increase their rate of growth while