WPC Exam 1 Practice: Study Guide & Mock Test (2026)
Predictive analytics may be applied to __________, which is a set of techniques that use
descriptive data and forecasts to identify the decisions most likely to result in the best
performance.
a. Explanatory analytics
b. Prescriptive analytics
c. Forecast analytics
d. Descriptive analytics - correct answer ✔✔Prescriptive Analytics
Which of the following is an example of secondary data?
a. Simulated data
b. Survey data
c. Firm's proprietary data
d. Interviews data - correct answer ✔✔firm's proprietary data
Which of the following data analytics model use optimization techniques?
a. Descriptive analytics
b. Predictive analytics
c. Prescriptive analytics
d. Diagnostic analytics - correct answer ✔✔prescriptive analytics
When you keep eating the food you don't like precisely because you already bought the food,
you are committing _____________.
a. endowment effect bias
b. sunk-cost fallacy
c. availability heuristics bias
, d. zero risk bias - correct answer ✔✔sunk-cost fallacy
Which of the following statements is true?
a. Analytical thinking is not based on facts
b. Using intuition is a way of analytical thinking
c. Experimentation is a way of analytical thinking
d. Heuristic thinking is slow - correct answer ✔✔Experimentation is a way of analytical thinking
Over-reliant on the first piece of information is called ____________
a. Bandwagon effect
b. Anchoring bias
c. Clustering illusion
d. Zero risk bias - correct answer ✔✔anchoring bias
What are the four types of data analytical method?
a. Descriptive, explanatory, predictive and prescriptive
b. Critical, analytical, predictive and explanatory
c. Descriptive, logical, predictive and prescriptive
d. Descriptive, analytical, predictive and prescriptive - correct answer ✔✔descriptive,
explanatory, predictive and prescriptive
In an ETL process, data is loaded into a final target database such as:
a. Public database
b. Operational dashboard
c. Data warehouse
d. Social media database - correct answer ✔✔data warehouse
Predictive analytics may be applied to __________, which is a set of techniques that use
descriptive data and forecasts to identify the decisions most likely to result in the best
performance.
a. Explanatory analytics
b. Prescriptive analytics
c. Forecast analytics
d. Descriptive analytics - correct answer ✔✔Prescriptive Analytics
Which of the following is an example of secondary data?
a. Simulated data
b. Survey data
c. Firm's proprietary data
d. Interviews data - correct answer ✔✔firm's proprietary data
Which of the following data analytics model use optimization techniques?
a. Descriptive analytics
b. Predictive analytics
c. Prescriptive analytics
d. Diagnostic analytics - correct answer ✔✔prescriptive analytics
When you keep eating the food you don't like precisely because you already bought the food,
you are committing _____________.
a. endowment effect bias
b. sunk-cost fallacy
c. availability heuristics bias
, d. zero risk bias - correct answer ✔✔sunk-cost fallacy
Which of the following statements is true?
a. Analytical thinking is not based on facts
b. Using intuition is a way of analytical thinking
c. Experimentation is a way of analytical thinking
d. Heuristic thinking is slow - correct answer ✔✔Experimentation is a way of analytical thinking
Over-reliant on the first piece of information is called ____________
a. Bandwagon effect
b. Anchoring bias
c. Clustering illusion
d. Zero risk bias - correct answer ✔✔anchoring bias
What are the four types of data analytical method?
a. Descriptive, explanatory, predictive and prescriptive
b. Critical, analytical, predictive and explanatory
c. Descriptive, logical, predictive and prescriptive
d. Descriptive, analytical, predictive and prescriptive - correct answer ✔✔descriptive,
explanatory, predictive and prescriptive
In an ETL process, data is loaded into a final target database such as:
a. Public database
b. Operational dashboard
c. Data warehouse
d. Social media database - correct answer ✔✔data warehouse
