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?