FAML 430 Unit 3- Data and Decisions: Exam Study Guide Questions and Correct Answers

FAML 430 Unit 3- Data and Decisions: Exam Study Guide Questions and Correct Answers What are the characteristics of data that is credible and useful to making wise business decisions? - Ans:-o The data is original: it comes from the primary source. o Comprehensive: The data source should provide enough information to get the big picture as well as any appropriate context. o Current: ideally not more than a few years old. o Reliable: Legitimate, unbiased, relevant. What signals that a data source is credible? - Ans:-o Who wrote the article? o Does the author have credentials? o Is the webpage affiliated with a credible organization? o When was the website last updated? ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 2/13 o What is the purpose of the organization that is hosting the website? · What signals that news or a data source might be fake, bias, or polarizing in its presentation? - Ans:- o Fake or controversial news is often polarizing and divisive. It is aimed at damaging the reputation, of a person or entity or raising money through advertising revenue. The truth of the content is less important than the number of shares or likes it receives. The information may be presented in a way that is "left" leaning or "right" leaning. · What are some trusted and reliable sources of data in social science? - Ans:-o Government agencies, industry white papers, and academic publications. · According to our reading, "How to Find Accurate and Compelling Data," what are four things we could look for on a website to determine if it is an appropriate source and data being shared is reliable? - Ans:-o The author: is the author credible? Do they have credentials? o Is the website affiliated with a credible organization? o When was the website last updated? o Why is the organization hosting the website? Are there any biases there? o Does the author provide a bibliography? · What are the characteristics of a good infographic? - Ans:-o Data Density: A good infographic is filled with lots of reliable and interesting data that is presented in a compressed or dense way. It isn't ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 3/13 complex or overwhelming, but the data is presented in a highly organized manner that keeps it clear and simple. o Parsimony: To be parsimonious is to be thrifty, tight, or constrained. An infographic should never use more words than necessary to convey an idea. o Branding: The graphics, colors, fonts, and design you use should be consistent with your marketing and branding plan. o Clear organization: An infographic, like a story, should flow smoothly from one section to the next. o Creativity o Descriptive labeling: Short and descriptive titles, subheadings, and labels that powerfully introduce the content and point the direction. o Cited data Sources. o Professional appeal: It should look professional and be free of spelling or grammatical errors. What is the difference between data and information? - Ans:-Data is an individual unit that contains raw materials which do not carry any specific meaning. Information is a group of data that collectively carries a logical meaning. How and why do stories appeal to program stakeholders differently than data? Why is each important in accomplishing different purposes? - Ans:-o Stories powerfully convey the mission of the program and ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 4/13 the services they provide. Stories engage with people in a way that data cannot. Visual data and storytelling allow us to reach people at a cognitive and affective level. Visual data and stories are powerful tools in our change agent toolbelt. Data changes minds, and stories change hearts. What are the characteristics of a good story? - Ans:-1. A topic of interest and significance to listeners 2. A plot that plays out over time, reflecting the complexity of many situations and problems 3. Elements of drama that make the story vivid and interesting. Often, the drama emerges not from the story's content but from the way the speaker tells the story. 4. A definable beginning, middle and end. 5. An appropriate setting 6. Characters that are interesting and easy for listeners to relate