complete solutions
What is the key focus on analysis? CORRECT ANSWERS: To predict trends using quantitative
data.
What are the four levels of measurement? CORRECT ANSWERS: 1. Nominal
2. Ordinal
3. Interval
4. Ratio
Nominal data CORRECT ANSWERS: is categorical. It has no numerical value. It's not a
number.
Examples:
-the types of pizza you sell
-meatball
-veggie
-cheese
(these are labels, they can't be added or subtracted)
Ordinal data CORRECT ANSWERS: is ranked, but doesn't have a specific value.
Example:
-the size of pizza (small, medium, large)
(we can't add or subtract these but we can put them in sequential order)
- order (key word)
- no numerical value
Interval data CORRECT ANSWERS: data is numeric. You can add and subtract it. It has a
sequential value. Each value is equally spaced from the previous value.
Example:
- drink sizes are interval (16 oz, 20 oz, 24 oz) they are equally spaced about (4 oz spaced)
Ratio data CORRECT ANSWERS: is numeric. Your sales per day are ratio data.
Example"
- 10 sales of $12.99 a piece = $129.99
(the value has a true value from zero)
To challenge the validity and reliability of data, ask two things. CORRECT ANSWERS: Are
there any outliers and are there any errors?
Outliers CORRECT ANSWERS: Don't throw them out. Do them in both ways.
Example:
last week, you were closed for two days for renovations. Sales were a zero for those two days.
That's an outlier. You include the outliers to know how its effecting your bottom line.
,2 categories of errors CORRECT ANSWERS: 1. Random
2. Systematic
Random error CORRECT ANSWERS: is something that happens just once and will not repeat
over time.
Example:
if you are trying to find average delivery times and one delivery was effected by a four hour
Chicago traffic delay, that's random.
Systematic error CORRECT ANSWERS: is when your deliveries (example) are slow and it is
not by chance.
Example:
A delivery driver has nursed the fuel injector on his car for the past six months. It breaks down
one out of every 20 deliveries he makes. This is Systematic error. It repeats itself.
Omission error CORRECT ANSWERS: An error because something is missing.
Example:
A delivery driver didn't clock in or out for his delivery. That data will not be included in study
and it's relevant.
-A data set with an omission error is defined as distorted.
out of range error CORRECT ANSWERS:
What is used to reduce errors? CORRECT ANSWERS: a number of quality control tools.
Example:
a survey customers take only allows them to select responses from a list. That way, they can't
type anything in wrong.
Treatment CORRECT ANSWERS: Example: You want to make a crispier pizza and to do this,
you apply three different sets of oil to three different pizza to measure the crispiness of the crust.
Blind study CORRECT ANSWERS: when the subjects don't know if they are receiving the
treatment or a placebo (a harmless procedure prescribed for the psychological benefit of the
recipient)
Double blind study CORRECT ANSWERS: An experiment in which neither the participant nor
the researcher knows whether the participant has received the treatment or the placebo (a
harmless procedure prescribed for the psychological benefit of the recipient)
Descriptive CORRECT ANSWERS:
For companies to attract and retain their best customers they need a complete portrait of who
they are. To develop this portrait companies turn to... CORRECT ANSWERS: analytics
, A manufacturer wants to maximize their factory output while specifically minimizing labor
costs. What type of analytics might they employ to achieve this goal? CORRECT ANSWERS:
prescriptive analytics
What type of data error that occurs in measurement is constant within a data set and is sometimes
caused by faulty equipment or bias? CORRECT ANSWERS: measurement bias
A city government is trying to determine the national origins of its recent immigrant population.
If a survey of the immigrant population is conducted in English what type of error be present in
the data? CORRECT ANSWERS: Omission
The use of Big Data is increasingly important to businesses in competitive markets. Which of the
following characteristics is not true of big data? CORRECT ANSWERS: can be analyzed with
traditional spreadsheets
The Davenport-Kim three-stage model consists of framing the problem, solving the problem, and
communicating results. Which two of the following are part of framing the problem stage?
CORRECT ANSWERS: -determine the scope of the problem
-review of previous findings
A healthcare provider is researching blood glucose levels before and after exercising. What two
elements should be part of any experimental study such as this? CORRECT ANSWERS:
treatment procedures
Runners cover 26.2 miles in the Olympics marathon. What level of measurement is this?
CORRECT ANSWERS: ratio
What level of measurement is the type of cars produced in Ford factory? CORRECT
ANSWERS: nominal
What level of measurement is this the 10 best cities in the U.S. to retire in? CORRECT
ANSWERS: Ordinal
What level of measurement are women's dress sizes (2,4,6, etc.)? CORRECT ANSWERS:
Interval
A local school board is studying the impact of a proposed change in testing on math scores. Bias
can be introduced into the study by both students and teachers. Which research technique would
eliminate this type of bias? CORRECT ANSWERS: Double blind study
A Company's product development team test 3 new car waxes by waxing 5 cars with each wax
and then running them through a car wash. They then record number of washes it takes before
the wax begins to deteriorate. What is the term for the five cars? CORRECT ANSWERS: The
experimental unit