WGU C207 Pre-Assessment Multi Choice Version Data-Driven Decision Making (PVPC) (Answered 2022/2023)

WGU C207 Pre-Assessment Multi Choice Version Data-Driven Decision Making (PVPC) (Answered 2022/2023) 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 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 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 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 b What are two aspects of data quality management? a. It calculates spurious data. b. It reduces the amount of incomplete data. c. It monitors data input rates. d. It cleans data. b, d Which two attributes indicate potential data quality issues when evaluating a set of nominal data? a. Outlier data b. Missing data c. Out-of-range data d. Misspelled data b, d 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? a. Systematic error b. Omission error c. Random error d. Information error a 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? a. The experimental unit b. The treatment c. The response variable d. The intervention c 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 in the hope that the healthcare organization will be able to create early prevention programs. Which type of research design does this study describe? a. Double blind study b. Systematic study c. Cohort study d. Experimental study c 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? a. Systematic error b. Omission error c. Random error d. Typographical error a, b A company is trying to increase its online sales revenue by improving its e-mail advertising campaign for repeat customers as well as new customers. Which two variables would be used in determining a campaign to maximize revenue gain? a. Number of purchases per e-mail b. E-mail content c. Spending per purchase d. Cost per e-mail a, c This statistical procedure compares outcomes of different drug testing results a. Anova b. Correlation c. Control Charts a This statistical procedure is used to help understand effective marketing and to spend advertising dollars efficiently a. Anova b. Correlation c. Control Charts b This statistical procedure monitors production process a. Anova b. Correlation c. Control Charts c 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? a. Unfounded assumptions b. Lack of blinding c. Faulty operationalization d. Confusion of association and causality d 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 concluding that the correlation statistic implies that airline sales drive retail sales? a. Does a causal relationship truly exist? b. Are the data biased? c. Is the sample size large enough? d. Does the sample accurately reflect the population? a A medical care provider determines the probability that a patient needs treatment for a broken bone, the probability that a patient needs treatment for a concussion, and the probability that a patient needs treatment for both a broken bone and a concussion. Which two techniques apply in finding the probability that a patient needs treatment for a broken bone and a concussion? a. Intersection b. Union c. Multiplication principle d. Mutually exclusive a, c A hardware store has found that there is a 0.25 probability that a customer buys an electrical product, a 0.45 probability that a customer buys a plumbing product, and a 0.10 probability that a customer buys an electrical part if they purchase a plumbing part. Given this information, which statistical rule can be used to determine the probability that a customer buys a plumbing product given that this customer has purchased an electrical product? a. Bayes' Theorem b. Multiplication c. Combination d. Conditional probability a Given the following data set: 11 12 What is the mode? a. 8 b. 9 c. 11 d. 12 d Which graphical tool is used to illustrate a possible relationship or correlation between two variables? a. Run chart b. Scatterplot c. Box plot d. Histogram b What does it mean when an individual data point has a z-score of -2? a. The data point is greater than the mean of the data set. b. The sample standard deviation of the data set is negative. c. The data point is equal to the mean of the data set. d. The data point is two standard deviations less than the mean of the data set. d A research study examined the impact of product advertisement exposure on that product's brand awareness. The appropriate statistical test indicates that the null hypothesis should be rejected with 95% confidence. What can be concluded from this study? a. The advertisement was effective in increasing sales. b. The advertisement was effective in building brand awareness. c. Five percent of the subjects did not like the advertisement. d. Ninety-five percent of the subjects liked the brand. b A manager is analyzing a dataset that includes information on individual incomes. The manager knows that the dataset is fairly representative of the general population and includes several millionaires. Based on this dataset, which measure of central tendency best represents the middle of the distribution? a. Mean b. Median c. Frequency d. Mode b After evaluating manufacturing times for a particular product, a manager determines that the times are spread out across the distribution. The manager has been asked to determine how far, on average, the time is from the mean. Which statistic roughly measures the average distance of a data point from the mean of the distribution? a. Median b. Standard deviation c. Mode d. Arithmetic mean b The number of customers that an automobile service shop receives on any given day is normally distributed with a mean of 75 and a standard deviation of 25. On a given day, 125 oil changes are performed. a. 97.5% b. 68.5%