WGU Data Driven Decision Making Pre Assessment | Latest 2023/24 | Updated & Verified | Guaranteed Success

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 increasing the use of analytics in organizational decision making? - 1. Relatively lower cost of computer storage 2. Higher computer processing power How does probability theory inform decision making for managers? - By quantifying risk Which type of data are the Olympic medals of gold, silver, and bronze example of? - Ordinal (categorial) What are two aspects of data quality management? - 1. It reduces the amount of incomplete data 2. It cleans data Which two attributes indicate potential data quality issues when evaluating a set of nominal data? - 1. Missing Data 2. Misspelled data 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? - 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?