DETAILED VERIFIED ANSWERS / EXAM
QUESTIONS WILL COME FROM HERE (100%
CORRECT ANSWERS/ A+ GRADED
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? Choose 2 answers. - 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? Choose 2 answers. -
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 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?
- 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? Choose 2 answers. - ANSWER-
Systematic error. Omission error
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
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
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
In the month of December, there is a strong positive correlation between airline
ticket sales and retail sales. Which question should the researcher consider before