Wgu C207 Data Driven Decision Making Objective Assessment Latest Questions And Answers (Verified Answers)

Analytics is a broad term that refers to a variety of tools that inform Prescriptive managerial decisions. - ANSWER-- What are two reasons for the increasing use of analytics in Relatively lower cost organizational decision making? - ANSWER--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? - ANSWER- -It cleans data It reduces the amount of incomplete data. Which two attributes indicate potential data quality issues when evaluating a set of nominal data? - ANSWER--Missing data Misspelled dataWhen 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 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