ANSWERS
Random Errors - CORRECT ANSWERS ✔✔Error in measurement caused by
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unpredictable statistical fluctuations
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Information Bias - CORRECT ANSWERS ✔✔A prejudice in the data that
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results when either the respondent or the interviewer has an agenda and is
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not presenting impartial questions or responding with truly honest
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responses, respectively |\
Ratio Data - CORRECT ANSWERS ✔✔Similar to interval data in that the
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data is ordered within a range and with each data point being an equal
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interval apart, also has a natural zero point which indicates none of the
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given quality |\
Data Set - CORRECT ANSWERS ✔✔A collection of related data records on
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a storage device.
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Nominal Data - CORRECT ANSWERS ✔✔Sometimes called categorical data
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or qualitative data, this data type is used to label subjects or data by name
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Reliable Data - CORRECT ANSWERS ✔✔Data that is consistent and
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repeatable
,Davenport-Kim Three Stages Model - CORRECT ANSWERS ✔✔A decision- |\ |\ |\ |\ |\ |\ |\ |\
making model developed by Thomas Davenport and Jinho Kim that consists
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of three stages:
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Framing the problem |\ |\ |\
Solving the problem |\ |\ |\
Communicating the problem |\ |\
Blind study - CORRECT ANSWERS ✔✔A study performed where the
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participants are not told if they are in the treatment group or control group
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Double-Blind Study - CORRECT ANSWERS ✔✔A study performed where |\ |\ |\ |\ |\ |\ |\ |\ |\
neither the treatment allocators nor the participant knows which group the
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participant is in |\ |\
Measurement Bias - CORRECT ANSWERS ✔✔A prejudice in the data that |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
results when the sample is not representative of the population being
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represented.
Analytics - CORRECT ANSWERS ✔✔The discovery, analysis, and
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communication of meaningful patterns in data. |\ |\ |\ |\ |\
Data Management - CORRECT ANSWERS ✔✔The management, including
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the cleaning and storage, of collected data
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,Triple-Blind Study - CORRECT ANSWERS ✔✔A study performed where |\ |\ |\ |\ |\ |\ |\ |\ |\
neither the treatment allocator nor the participant nor the response gatherer
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knows which group the participant is in
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Omission Error - CORRECT ANSWERS ✔✔An error because something (
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for example, data or survey responses) is missing.
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Relational Database - CORRECT ANSWERS ✔✔A database structured to
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recognize relations among stored items of information
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Ordinal Data - CORRECT ANSWERS ✔✔Data that places data objects into
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an order according o some quality with higher order indicating more of that
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quality
Discrete Data - CORRECT ANSWERS ✔✔Data that can only take on whole
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values and has clear boundaries
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Interval Data - CORRECT ANSWERS ✔✔Data that is ordered within a range
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and with each data point being an equal interval apart
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Valid Data - CORRECT ANSWERS ✔✔Data resulting from a test that
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accurately measures what it is intended to measure |\ |\ |\ |\ |\ |\ |\
Big Data - CORRECT ANSWERS ✔✔A catch-phrase that describes a massive
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volume that is so large that it's difficult to process using traditional database
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software techniques
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, Systematic errors - CORRECT ANSWERS ✔✔Errors in measurement that
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are constant within a data set, sometimes caused by faulty equipment or
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bias.
Benchmarks - CORRECT ANSWERS ✔✔Standards or points of reference for
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an industry or sector that can be used for comparison and evaluation.
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Continuous Data - CORRECT ANSWERS ✔✔Data that can lay along any
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point in a range of data
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Statistics - CORRECT ANSWERS ✔✔The science that deals with the
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interpretation of numerical facts or data though theories of probability. Also,
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the numerical facts or data themselves.
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Decision Tree Analysis - CORRECT ANSWERS ✔✔The diagram of possible
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alternatives and their expected consequences in order to formulate passible
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courses of action in order to make decisions
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Expected Monetary Value (EMV) Analysis - CORRECT ANSWERS ✔✔A
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statistical technique that calculates the average outcome when the future
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includes scenarios that may or may not happen.
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Response Rates - CORRECT ANSWERS ✔✔The number of people who
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respond to a marketing offer (often expressed as a percentage of the number
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of responses divided by the number of people that ere targeted mail, email
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etc.)