WGU Data Driven Decision Making Pre- Assessment with Guaranteed Accurate Answers

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? - correct answer Prescriptive What are two reasons for increasing the use of analytics in organizational decision making? - correct answer 1. Relatively lower cost of computer storage 2. Higher computer processing power How does probability theory inform decision making for managers? - correct answer By quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze example of? - correct answer Ordinal (categorial) What are two aspects of data quality management? - correct answer 1. It reduces the amount of incomplete data 2. It cleans data Which two attributes indicate potential data quality issues when evaluating a set of nominal data? - correct answer 1. Missing Data 2. Misspelled data 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? - correct answer Systematic error 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? - correct answer Response variable 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. The healthcare org hopes the data will allow them to create early prevention programs. Which type of research design does this study describe? - correct answer Cohort study 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? - correct answer Systematic error Omission error A company is trying to increase online sales revenue by improving its email advertising campaign for repeat customers as well as new customers. Which two variables would be used in determining a campaign to maximize revenue gain? - correct answer Number of purchases per email Spending per purchase A company that raises turkeys hopes to increase the rate of growth while controlling the cost of feeding them. It has determined that feeds containing both nutrients and proteins can be used. Which decision-making technique is most appropriate to minimize the cost of feeding the birds? - correct answ