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Which of the following is NOT an application of statistics in business? a Determine the internet advertiser that will reach the most people from extensive page view data. b Determine a target market based on information on household incomes throughout the country. c Predict trends in certain inv...

WGU C207 Study Guide Module 5 & 6 New Questions 2024 with 100% Correct Answers | Verified | Latest Update | 100% Pass | Already Graded A+ incidence rate would be used if we want to measure the proportion of health workers who acquire Ebola from working with Ebola patients percentile indicates t...

trend is a general direction in which something is developing or changing analysis of variance (ANOVA) verifies if multiple populations of data are the same or at least one is different than the others. cyclicality describes results that go up and down periodically, but don't necessarily follow...

Analytics is the discovery, analysis and communication of meaningful patterns in data information bias is a prejudice in data that results when either the respondent or the interviewer have & agenda that affects responses ordinal data places data into categories that are ordered by a predetermine...

For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to Analytics A manufacturer wants to maximize their factory output while specifically minimizing labor costs. What type of analytics might they employ to...

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 Prescriptive What are two reasons for the increasing use of analytics in organizational decision making? Choose 2 answers Relatively lower cost of ...

What is the key focus on analysis? To predict trends using quantitative data. What are the four levels of measurement? 1. Nominal 2. Ordinal 3. Interval 4. Ratio Nominal data is categorical. It has no numerical value. It's not a number. Examples: -the types of pizza you sell -meatball -veg...

Random Errors Error in measurement caused by unpredictable statistical fluctuations Information Bias A prejudice in the data that results when either the respondent or the interviewer has an agenda and is not presenting impartial questions or responding with truly honest responses, respectively ...

Which term can be used to describe managerial decisions? Prescriptive 2 reasons for the increase in use of analytics in organizational decision making? 1. Relatively low cost of computer storage 2. Higher computer processing power How does probability theory inform decision-making for managers? ...

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 m...

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? Prescriptive What are two reasons for the increasing use of analytics in organizational decision-making? Relatively lower cost of computer storage;...

Simple indexing Common analytic measure to improve performance. Compares current data with data during a base period. (Price / Price during "Base Period") x 100 i.e. Big Mac was 1.60 in 1968 which is base period. what is index for 2014 if price was 4.80 then? (4.80 / 1.60) * 100 = 300 (means ...

For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... a. Statistics b. Analytics c. Management Science d. Histograms b A manufacturer wants to maximize their factory output while specifically minimi...

Quiz 1) 1. For companies to attract and retain their best customers they need a complete portrait of who they are. To develop this portrait companies turn to... A) Statistics B) Analytics C) Management Science D) Histograms B (Quiz 1) 2. A manufacturer wants to maximize their factory output w...