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Business Analytics Chapter 7 questions with right answers. $9.39   Add to cart
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Business Analytics Chapter 7 questions with right answers.
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Business Analytics Chapter 7 questions with right answers.

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  • August 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • business analytics chapter 7 questions with right

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  • Business Analytics
  • Business Analytics

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Business Analytics Chapter 7 questions
with right answers.
Why collecting data correctly is critical ANS - Avoid data flaws by biases, ambiguities and errors, makes
data not useful



Primary Source ANS - The data collector is the one using the data for analysis



Examples: Data from political survey, data collected form an experience, observed data



Secondary Source ANS - Person performing data analysis is not the data collector



Examples: Analyzing census data, examining data from journals or other published materials



Five Categories of Data Sources ANS - 1. Data distributed by an organization or an individual

2. The outcomes of a designed experiment

3. The responses from a survey

4. Results of conducting an observational study

5. Data collected by ongoing business activities



Population ANS - All the items or individuals about which you want to draw a conclusion (Large group)



Sample ANS - The portion of a population selected for analysis (Small group)



When to collect data via sampling (when selecting a sample is...) ANS - 1. Less Time consuming than
selecting every item in the population

2. Less costly than selecting every item in the population

3. Less cumbersome and more practical than analyzing the entire population

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