Complete Questions and Correct
Answers with Rationales | Already
Graded A+||Brand New Version!!
What is the key focus on analysis? - Answer- To predict trends using quantitative data.
What are the four levels of measurement? - Answer- 1. Nominal
2. Ordinal
3. Interval
4. Ratio
Nominal data - Answer- 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 - Answer- 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 - Answer- 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 - Answer- 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. - Answer- Are there any
outliers and are there any errors?
Outliers - Answer- 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 - Answer- 1. Random
2. Systematic
Random error - Answer- 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 - Answer- 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 - Answer- 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 - Answer-
What is used to reduce errors? - Answer- 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 - Answer- 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 - Answer- 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 - Answer- 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 - Answer-
, 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... - Answer- 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? - Answer-
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? - Answer- 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? - Answer- 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? - Answer- 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? - Answer- -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? - Answer-
treatment procedures
Runners cover 26.2 miles in the Olympics marathon. What level of measurement is
this? - Answer- ratio
What level of measurement is the type of cars produced in Ford factory? - Answer-
nominal
What level of measurement is this the 10 best cities in the U.S. to retire in? - Answer-
Ordinal
What level of measurement are women's dress sizes (2,4,6, etc.)? - Answer- 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? - Answer- 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