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EXAM 1 QMB 3602 QUESTIONS CORRECTLY SOLVED TO SCORE A+ !!
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EXAM 1 QMB 3602 QUESTIONS CORRECTLY SOLVED TO SCORE A+ !!
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Name: Score:42 Multiple choice questions
Term 1 of 42
Stage 3: Collect and Prepare the Data (Research Process)
The problem or opportunity that requires a decision; a symptom of a problem or an early
indication of an opportunity.
Can be triggered by an early signal of an opportunity or growing evidence that a fad may
be gaining power.
Can include: rising costs, declining sales, increasing employee turnover
This stage contains two subprocesses:
1) actual collection of the data
2) preparation of the data for analysis
It is at this stage that the methods and the procedures specified during data collection
design are executed.
The purpose in this stage of the research process is to determine whether research should
be conducted.
1. What are the management dilemmas?
2. What do we know that might help define the dilemma?
3. What info do we need to make a decision?
4. Would knowing this info improve the decision(s) we must make to resolve the dilemma?
5. Where will the funding come for any research?
In this stage, managers interpret the data collected into usable information.
A researcher would have to identify keywords, as well as sentiments, further expanding the
data.
,Term 2 of 42
Business Unit KPIs
Pay increases, promotions, training, project assignments, project leaderships
Requires that the researcher examines or counts every case in the target population
Some organizations apply this step to DMAIC.
-Apply the learnings and methods to related opportunities.
Manufacturing output, product defects, time frame of production, and supply fulfillment.
Definition 3 of 42
Possesses the info on one or more variables that needs to be measured
Ex) employees of an automobile assembler company
Sample
Nominal Data
Case
Account
Definition 4 of 42
Requires examining a portion of the cases in the target population.
Sample
Census
Data
Target Population
, Definition 5 of 42
The purpose in this stage of the research process is to determine whether research should be
conducted.
1. What are the management dilemmas?
2. What do we know that might help define the dilemma?
3. What info do we need to make a decision?
4. Would knowing this info improve the decision(s) we must make to resolve the dilemma?
5. Where will the funding come for any research?
Stage 4: Analyze and Interpret the Data (Research Process)
Stage 3: Collect and Prepare the Data (Research Process)
Stage 5: Report Insights and Recommendations (Research Process)
Stage 1: Clarify the Research Question (Research Process)
Definition 6 of 42
Is the blueprint for collecting data that fulfills objectives and answers questions.
-What data needs to be collected, how, and in what format?
-From whom or what do the data need to be collected, and how many?
Sampling design and data collection design
Stage 4: Analyze and Interpret the Data (Research Process)
Stage 3: Collect and Prepare the Data (Research Process)
Stage 2: Designing the Research Project
Management Dilemma
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