WGU C207 Pre-Assessmen Multi Choice Version Data-Driven Decision Making (PVPC) 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?
- Prescriptive
- Predictive
- Pareto chart
- Biased - ANSWER a
- Relatively lower cost of computer storage
- Lower availability of statistical experts
- Higher cost of obtaining data
- Higher computer processing power - ANSWER
What are two reasons for the increasing use of analytics in organizational decision making?
a, d 1 / 3
In what way does probability theory inform decision-making for managers?
- By quantifying risk
- By quantifying data
- By quantifying quality
- By quantifying costs - ANSWER a
- Nominal data
- Ordinal data
- Interval data
- Ratio data - ANSWER b
- It calculates spurious data.
- It reduces the amount of incomplete data.
- It monitors data input rates.
- It cleans data. - ANSWER b, d
Which type of data are the Olympic medals of gold, silver, and bronze examples of?
What are two aspects of data quality management?
Which two attributes indicate potential data quality issues when evaluating a set of nominal data? 2 / 3
- Outlier data
- Missing data
- Out-of-range data
- Misspelled data - ANSWER b, d
- Systematic error
- Omission error
- Random error
- Information error - ANSWER a
- The experimental unit
- The treatment
- The response variable
- The intervention - ANSWER c
- / 3
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?
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?