ASSESSMENT LATEST VERSION UPDATED AND REVISED IN
2024-2025
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 -
ANSWER->Prescriptive
What are two reasons for the increasing use of analytics in
organizational decision making?
Choose 2 answers - ANSWER->Relatively lower cost of
computer storage
Higher computer processing power
In what way does probability theory inform decision-making for
managers? - ANSWER->By quantifying risk
Which type of data are the Olympic medals of gold, silver, and
bronze examples of? - ANSWER->Ordinal data
What are some of the aspects of data quality management?
Choose 2 answers - ANSWER->It reduces the amount of
incomplete data.
,It cleans data.
Which two attributes indicate potential data quality issues
when evaluating a set of nominal data?
Choose 2 answers - ANSWER->Missing data
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?
- ANSWER->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? -
ANSWER->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? -
ANSWER->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 - ANSWER->Systematic error
Omission error
A company is trying to increase its online sales revenue by
improving its e-mail advertising 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 - ANSWER->Number of purchases per e-mail
Cost per e-mail
Match each action with the appropriate statistical procedure.
Answer options may be used more than once or not at all. (3) -
ANSWER->Compare outcomes of different drug testing results
ANOVA