WGU C207 Pre-Assessmen Multi Choice Version Data-Driven Decision Making (PVPC)

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? a. Prescriptive b. Predictive c. Pareto chart d. Biased correct answer: a What are two reasons for the increasing use of analytics in organizational decision making? a. Relatively lower cost of computer storage b. Lower availability of statistical experts c. Higher cost of obtaining data d. Higher computer processing power correct answer: a, d In what way does probability theory inform decision-making for managers? a. By quantifying risk b. By quantifying data c. By quantifying quality d. By quantifying costs correct answer: a Which type of data are the Olympic medals of gold, silver, and bronze examples of? a. Nominal data b. Ordinal data c. Interval data d. Ratio data correct answer: b What are two aspects of data quality management?