Prescriptive - Answer 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
Relatively lower cost of computer storage
Higher computer processing power - Answer What are two reasons for the increasing...
Prescriptive - Answer 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
Relatively lower cost of computer storage
Higher computer processing power - Answer What are two reasons for the increasing
use of analytics in organizational decision making?
Choose 2 answers
By quantifying risk - Answer In what way does probability theory inform decision-making
for managers?
Ordinal data - Answer Which type of data are the Olympic medals of gold, silver, and
bronze examples of?
It reduces the amount of incomplete data.
It cleans data. - Answer What are some of the aspects of data quality management?
Choose 2 answers
Missing data
Misspelled data - Answer Which two attributes indicate potential data quality issues
when evaluating a set of nominal data?
Choose 2 answers
Systematic error - Answer 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?
The response variable - Answer 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?
, Cohort study - Answer 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?
Systematic error
Omission error - Answer 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
Number of purchases per e-mail
Cost per e-mail - Answer 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?
Choose 2 answers
Compare outcomes of different drug testing results ANOVA
Understand effective marketing to spend advertising dollars efficiently Correlation
Monitor production process Control charts - Answer Match each action with the
appropriate statistical procedure.
Answer options may be used more than once or not at all. (3)
Confusion of association and causality - Answer 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?
Does a causal relationship truly exist? - Answer In the month of December, there is a
strong positive correlation between airline ticket sales and retail sales.
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