Data Driven Decision Making C207
Preassessment (Answered) Graded A+
An organization develops a new strategic plan and seeks ways to measure its
performance over a specific period of time.
Which system enables the organization to measure performance based upon
established global standards?
ISO
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?
Predictive
What are two reasons for the increasing use of analytics in organizational
decision making?
Relatively lower cost of computer storage
Higher computer processing power
In what way does probability theory inform decision-making for managers?
quantifying risk
Which type of data are the Olympic medals of gold, silver and bronze examples
of?
Ordinal data
What are some aspects of data quality management?
Choose 2 answers
it cleans data
it reduces the amount of incomplete data
which two attributes indicate potential data quality issues when evaluating a set
of nominal data?
missing data
misspelled data
When conducting a study that measures an individuals weight, all scales are
calibrated prior to use in measurement. Which type of error should this procedure
significantly reduce?
Systematic Error
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?
The response variable
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
cohort study
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?
Choose 2 answers.
Omission error
typographical error
A company is trying to increase its online sales revenue by improving its e-mail
campaign for repeat customers as well as new customers.
Which two variables would be used in determining a campaign to maximize
revenue gain?
Choose 2 answers
spending per purchase
number of purchases per email
A company that raises turkeys is hoping to increase the rate of growth of the
birds while controlling the cost of feeding the birds. It has been determined that
feeds containing both nutrients and protein can be used.
What decision making technique is most appropriate for this company to
minimize the cost of feeding the birds.
Linear programming
Match each action with the appropriate statistical procedure
Answer options may be used more than one or not at all.
Understand effective marketing to spend advertising dollars efficiently = Correlation
Monitor production process= Control Charts
Compare outcomes of different drug testing results= ANOVA
A researcher concludes that bananas create healthy children because the
researcher's notes indicate that children who eat a banana every day are healthy
What misuse of statistics would this study be an example of if these children also
eat a balanced diet and exercise daily?
unfounded assumptions
In the month of December, there is a strong positive correlation between airline
tickets and retail sales.
Which question should the researcher consider before concluding that the
correlation statistic implies that the airline sales drive retail sales?
Does a casual relationship truly exist
A medical care provider determines the probability that a patient needs treatment
for a broken bone, the probability that a patient needs treatment for a concussion,
and the probability that a patient needs treatment for both a broken bone and a
concussion.
Which two rules should be used to find the probability that a patient needs
treatment for a broken bone and a concussion?
Choose 2 answers
multiplication
intersection
A hardware store has found that there is a 0.25 probability that a customer buys
an electrical product, a 0.45 probability that a customer buys a plumbing product,
Preassessment (Answered) Graded A+
An organization develops a new strategic plan and seeks ways to measure its
performance over a specific period of time.
Which system enables the organization to measure performance based upon
established global standards?
ISO
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?
Predictive
What are two reasons for the increasing use of analytics in organizational
decision making?
Relatively lower cost of computer storage
Higher computer processing power
In what way does probability theory inform decision-making for managers?
quantifying risk
Which type of data are the Olympic medals of gold, silver and bronze examples
of?
Ordinal data
What are some aspects of data quality management?
Choose 2 answers
it cleans data
it reduces the amount of incomplete data
which two attributes indicate potential data quality issues when evaluating a set
of nominal data?
missing data
misspelled data
When conducting a study that measures an individuals weight, all scales are
calibrated prior to use in measurement. Which type of error should this procedure
significantly reduce?
Systematic Error
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?
The response variable
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
cohort study
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?
Choose 2 answers.
Omission error
typographical error
A company is trying to increase its online sales revenue by improving its e-mail
campaign for repeat customers as well as new customers.
Which two variables would be used in determining a campaign to maximize
revenue gain?
Choose 2 answers
spending per purchase
number of purchases per email
A company that raises turkeys is hoping to increase the rate of growth of the
birds while controlling the cost of feeding the birds. It has been determined that
feeds containing both nutrients and protein can be used.
What decision making technique is most appropriate for this company to
minimize the cost of feeding the birds.
Linear programming
Match each action with the appropriate statistical procedure
Answer options may be used more than one or not at all.
Understand effective marketing to spend advertising dollars efficiently = Correlation
Monitor production process= Control Charts
Compare outcomes of different drug testing results= ANOVA
A researcher concludes that bananas create healthy children because the
researcher's notes indicate that children who eat a banana every day are healthy
What misuse of statistics would this study be an example of if these children also
eat a balanced diet and exercise daily?
unfounded assumptions
In the month of December, there is a strong positive correlation between airline
tickets and retail sales.
Which question should the researcher consider before concluding that the
correlation statistic implies that the airline sales drive retail sales?
Does a casual relationship truly exist
A medical care provider determines the probability that a patient needs treatment
for a broken bone, the probability that a patient needs treatment for a concussion,
and the probability that a patient needs treatment for both a broken bone and a
concussion.
Which two rules should be used to find the probability that a patient needs
treatment for a broken bone and a concussion?
Choose 2 answers
multiplication
intersection
A hardware store has found that there is a 0.25 probability that a customer buys
an electrical product, a 0.45 probability that a customer buys a plumbing product,
