QUESTIONS AND ANSWERS EAZY SELF- EVALUATION
LATEST UPDATE 2024
Random Errors - (correct answer) Error in measurement caused by unpredictable
statistical fluctuations
Information Bias - (correct answer) 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
Ratio Data - (correct answer) Similar to interval data in that the data is ordered
within a range and with each data point being an equal interval apart, also has a natural
zero point which indicates none of the given quality
Data Set - (correct answer) A collection of related data records on a storage device.
Nominal Data - (correct answer) Sometimes called categorical data or qualitative
data, this data type is used to label subjects or data by name
Reliable Data - (correct answer) Data that is consistent and repeatable
Davenport-Kim Three Stages Model - (correct answer) A decision-making model
developed by Thomas Davenport and Jinho Kim that consists of three stages:
Framing the problem
Solving the problem
Communicating the problem
Blind study - (correct answer) A study performed where the participants are not told
if they are in the treatment group or control group
Double-Blind Study - (correct answer) A study performed where neither the
treatment allocators nor the participant knows which group the participant is in
Measurement Bias - (correct answer) A prejudice in the data that results when the
sample is not representative of the population being represented.
Analytics - (correct answer) The discovery, analysis, and communication of
meaningful patterns in data.
Data Management - (correct answer) The management, including the cleaning and
storage, of collected data
,Triple-Blind Study - (correct answer) A study performed where neither the treatment
allocator nor the participant nor the response gatherer knows which group the
participant is in
Omission Error - (correct answer) An error because something ( for example, data
or survey responses) is missing.
Relational Database - (correct answer) A database structured to recognize relations
among stored items of information
Ordinal Data - (correct answer) Data that places data objects into an order
according o some quality with higher order indicating more of that quality
Discrete Data - (correct answer) Data that can only take on whole values and has
clear boundaries
Interval Data - (correct answer) Data that is ordered within a range and with each
data point being an equal interval apart
Valid Data - (correct answer) Data resulting from a test that accurately measures
what it is intended to measure
Big Data - (correct answer) A catch-phrase that describes a massive volume that is
so large that it's difficult to process using traditional database software techniques
Systematic errors - (correct answer) Errors in measurement that are constant within
a data set, sometimes caused by faulty equipment or bias.
Benchmarks - (correct answer) Standards or points of reference for an industry or
sector that can be used for comparison and evaluation.
Continuous Data - (correct answer) Data that can lay along any point in a range of
data
Statistics - (correct answer) The science that deals with the interpretation of
numerical facts or data though theories of probability. Also, the numerical facts or data
themselves.
Decision Tree Analysis - (correct answer) The diagram of possible alternatives and
their expected consequences in order to formulate passible courses of action in order to
make decisions
Expected Monetary Value (EMV) Analysis - (correct answer) A statistical technique
that calculates the average outcome when the future includes scenarios that may or
may not happen.
, Response Rates - (correct answer) The number of people who respond to a
marketing offer (often expressed as a percentage of the number of responses divided
by the number of people that ere targeted mail, email etc.)
Click-through rates - (correct answer) A common metric to measure the success of
an email campaign. Total number of clicks on a hotlink(s) in an email divided by the
number of emails sent. Includes multiple clicks by a unique user.
Open Rate - (correct answer) The number of email message recipients who opened
an email, usually as a percentage of the number of emails sent or delivered. The open
rate is considered a key metric for judging an email marketing campaign.
Transactional Data - (correct answer) Data that records a time and relevant
reference data needed for a particular transaction record; can be financial, involving
everything from a purchase to shipping status to a product return.
Response Bias - (correct answer) When respondents to a survey say what they
believe the questioner wants to hear. This bias can occur as a result of the wording of a
question.
Conscious bias - (correct answer) The surveyor is actively seeking a certain
response to support his or her cause. Bias occurs when the researcher manipulates the
phrasing of questions in order to elicit the desired response
Missing data and refusals - (correct answer) This misuse occurs when a certain part
of the sample gets lost or subjects refuse to contribute ti the overall data collection
Small sample size - (correct answer) Sample size is too small to make inferences
Parametric test - (correct answer) Assumes there is a structure (maybe a normal
distribution) to the population, often appearing when mean or standard deviation are
important
Non-parametric test - (correct answer) Does not assume there to be a structure
(maybe a normal distribution) to the population
Association and causality misuse - (correct answer) When a researcher notices a
relationship between two variable and assumes that one variable is the cause of the
other. In reality, these variables might both be caused by separate variables; they would
merely be correlated. Or have no relationship at all.
Training and test data misuse - (correct answer) When the same dat that's used to
forma hypothesis is then used to test the hypothesis. Sample size is too small and
different samples have a lot of crossover