1
PRE-ASSESSMENT: DATA-DRIVEN DECISION MAKING PVPC
Attempt #1
Status: Passed
1.
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?
YOUR CORRECT
ANSWER ANSWER
Prescriptive
Descriptive
Pareto chart
Biased
2.
What are two reasons for the increasing use of analytics in organizational decision-making?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
Relatively lower cost of computer storage
Lower availability of statistical experts
Higher cost of obtaining data
Higher computer processing power
3.
How does probability theory inform decision-making for managers?
YOUR CORRECT
ANSWER ANSWER
1/31
,2
2/31
, YOUR CORRECT
3
ANSWER ANSWER
By quantifying risk
By quantifying data
By quantifying quality
By quantifying costs
4.
Which type of data are the Olympic medals of gold, silver, and bronze examples of?
YOUR CORRECT
ANSWER ANSWER
Nominal data
Ordinal data
Interval data
Ratio data
5.
What are two aspects of data quality management?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
It calculates spurious data.
It reduces the amount of incomplete data.
It monitors data input rates.
It cleans data.
3/31
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6.
Which two attributes indicate potential data quality issues when evaluating a set of nominal data?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
Outlier data
Missing data
Out-of-range data
Misspelled data
7.
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?
YOUR CORRECT
ANSWER ANSWER
Systematic error
Omission error
Random error
Information error
8.
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?
YOUR CORRECT
ANSWER ANSWER
4/31
PRE-ASSESSMENT: DATA-DRIVEN DECISION MAKING PVPC
Attempt #1
Status: Passed
1.
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?
YOUR CORRECT
ANSWER ANSWER
Prescriptive
Descriptive
Pareto chart
Biased
2.
What are two reasons for the increasing use of analytics in organizational decision-making?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
Relatively lower cost of computer storage
Lower availability of statistical experts
Higher cost of obtaining data
Higher computer processing power
3.
How does probability theory inform decision-making for managers?
YOUR CORRECT
ANSWER ANSWER
1/31
,2
2/31
, YOUR CORRECT
3
ANSWER ANSWER
By quantifying risk
By quantifying data
By quantifying quality
By quantifying costs
4.
Which type of data are the Olympic medals of gold, silver, and bronze examples of?
YOUR CORRECT
ANSWER ANSWER
Nominal data
Ordinal data
Interval data
Ratio data
5.
What are two aspects of data quality management?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
It calculates spurious data.
It reduces the amount of incomplete data.
It monitors data input rates.
It cleans data.
3/31
, 4
6.
Which two attributes indicate potential data quality issues when evaluating a set of nominal data?
Choose 2 answers.
YOUR CORRECT
ANSWER ANSWER
Outlier data
Missing data
Out-of-range data
Misspelled data
7.
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?
YOUR CORRECT
ANSWER ANSWER
Systematic error
Omission error
Random error
Information error
8.
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?
YOUR CORRECT
ANSWER ANSWER
4/31
