GEB 4522 Final Exam (UCF)
C
A company keeps two sets of data regarding its customers. The first is maintained by the accountant and contains each customer's billing, credit, and payment information, identified by federal tax id. The second records monthly sales using a customer number assigned by the sales staff. It is difficult to match information between the two systems. This is an example of a: A. data accuracy issue. B. data relevance issue. C. data comparability issue. D. data completeness issue.
C
A decision to radically alter a business' salary structure is most likely an example of a: A. revenue blow-up B. profit blow-up C. cost blow-up D. business model blow-up
B
A list of US states is an example of what type of data? A. interval B. nominal C. ordinal D. ratio
B
A rank order scale would be an example of what type of data. A. ratio B. interval C. nominal D. ordinal
D
A rating scale would be an example of what type of data. A. interval B. ratio C. nominal D. ordinal
C
A survey question that forces users to make a choice between two answers is a ____________ survey question. A. rating scale B. multiple choice C. dichotomous D. semantic differential scale
C
An associated independent and dependent variable are most commonly graphed as a: A. line graph with both variables on the y-axis and time on the x-axis B. two pie charts, one for each variable C. scatter plot with the independent variable on the x-axis and the dependent variable on the y-axis D. scatter plot with the independent variable on the y-axis and the dependent variable on the x-axis
A
An example of a sample that is too small would be.... A. 100 completed surveys for a population of 20,000 B. 1,000 completed surveys for a sample of 100,000 C. a survey with only 5 questions D. any sample that is not at least 10% of the population
A
An indicator tells you that 62% of a new inventory system's development is completed. This is most likely an example of an indicator that is: A. progress related B. a raw number C. indirectional D. nominal E. directional
D
Asking "the question behind the question" is most likely related to what? A. the consequences of proposed solutions B. the assumptions that are being relied upon C. the root cause of the problem D. the motivation for asking the question
B
Benchmarking is... A. based exclusively on measures against historical data B. an activity that tells you your position or status by comparing yourself to others C. limited only to ratio analysis D. the art of settings goals
B
From a client viewpoint, high quality data is data that: A. is available with the shortest possible delay. B. is fit for the use intended for it. C. conforms to the standards set for data collection and storage. D. is consistent with data from other sources.
B
If a report states that 200 is twice as much as 100, what type of data is being used? A. ordinal B. ratio C. nominal D. interval
B
If, on average, more umbrella sales occur on days with more rainfall, then the strongest statement we can make is: A. increased umbrella sales causes increased rainfall. B. rainfall and umbrella sales are associated with one another. C. increased rainfall causes increased umbrella sales. D. more data is needed to make a statement on the scenario
D
In a fishbone diagram, the head contains the: A. primary stakeholder B. root cause C. solution D. effect
A
In the context of regression, what is a residual? A. The difference between the actual value and the value predicted by the regression line. B. The difference between the independent and dependent variables. C. The average distance between the data and the regression line.
A
In which type of data does a higher number not mean something more than a lower number? A. nominal B. ratio C. ordinal D. interval
B
Integrity means having a ____________ character that is demonstrated by an alignment of your thoughts, words and action. A. adaptable B. consistent C. inconsistent D. dependable
B
Which of the following belongs in your executive summary? A. specific financial information B. the recommended course of action C. extensive background information D. a direct address to the client of record
D
Which of the following can you change on a graph that has already been created? A. axis labels B. axis lines C. axis scale D. all of the above
C
Which of the following is NOT a strong use of demographic survey questions.. A. understanding the profile of your non-users B. comparing your sample to your population to check for sampling errors C. understanding your product users D. understanding your likely target market E. all of the following are strong uses of demographic survey questions
B
Which of the following is NOT a typical classification of a Net Promoter Score question. A. detractors B. product users C. passives D. promoters
D
Which of the following is NOT an example of a sample that is too narrow? A. an online only sample for a B2B company asking about buying habits. B. an online only survey of adults aged 25-54 asking about their online streaming usage. C. a telephone survey of adults aged 18+ asking about buying habits. D. an online only sample for a web based retailer asking about past website buying habits.
A
Which of the following is least likely a benefit of using the "5 whys" approach? A. it's unbiased B. prevents treating symptoms rather than problems C. using it shows great leadership skills which builds credibility in time of a crisis D. it's easy to teach
B
Which of the following is least likely a characteristic of a KPI? A. it is quantifiable B. it is easy for everyday consumers to interpret C. it is related to strategic goals D. it measures performance E. all of the above
D
Which of the following is least likely a column on a balanced scorecard? A. owners B. customers C. skills and capabilities D. goods and services
D
Which of the following is least likely a problem with an organization's KPIs? A. they are not made known to employees B. copied from other companies C. they are descriptive D. there are too few
B
Which of the following is least likely found in each row of a balanced scorecard? A. initiatives B. results C. metrics D. targets
C
Which of the following is most accurate to describe writing letters and writing e-mail? A. letters have unreliable formatting, e-mail has reliable formatting B. a greeting by the first name of always appropriate for both e-mail and letters C. letters follow more establish rules than e-mail D. email is formal, letters are informal
B
Which of the following is most likely a benefit of defining a table and using it in an equation or function? A. table references are shorter than cell references B. if entries are added to the table in the future they are automatically included in the equation or function C. many Excel functions can only accept tables as their arguments D. Excel will automatically determine which column to use in the calculation
B
Which of the following is most likely a characteristic of high quality critical thinking? A. proposing a solution as quickly as possible B. focusing on root causes not symptoms C. presenting results of all analytical tests that are run D. focus on existing performance indicators
A
Which of the following is most likely a lagging indicator? A. customer satisfaction B. online catalog ease of use C. manufacturing delays D. order fulfillment speed
C
Which of the following is most likely a way to prioritize the use of resources in problem solving? A. go back as far in time as possible B. use the most sophisticated analytical tools that are available C. performance analysis that ties directly back to the problem D. include all available data in the analysis
B
Which of the following is not a challenge of using historical data to forecast future performance? A. failure to adjust for inflation B. benchmark values change over time C. changes in the general state of the economy D. changes in policies established by management
C
Which of the following is not a factor in evaluating the data used to benchmark. A. timeliness B. accuracy C. standard deviation D. comparability
D
Which of the following is not among the "6 M's" that are sometimes used in a fishbone diagram? A. methods B. materials C. measurements D. merger E. machines
C
Which of the following is not among the "6 P's" that are sometimes used in a fishbone diagram? A. program B. people C. preparation D. product E. policy
C
Which of the following is not true regarding linear regression? A. It is a predictive tool. B. There can be multiple independent variables. C. There can be multiple dependent variables D. There can be only one independent variable E. none of the above
C
Which of the following is the main purpose of an executive summary? A. to introduce the content of the report B. to organize your thoughts as you write C. to help time starved managers efficiently review documents D. to provide a more thorough analysis
C
Which of the following is true about the "5 whys" approach? A. there are 5 questions to ask, each of which begins with "why" B. the goal is to determine all possible causes of a problem C. you begin with the observed effect or symptom and ask why it occurred D. all of the above
A
Which of the following most likely describes an appropriate use of a balanced scorecard? A. identify the causes for any gap between targets and actual values for each indicator B. determining the causes for delays between leading and lagging indicators C. work backward from skills and capabilities up to owners to determine the chain of cause-and-effect D. all of the above
C
Which of the following should most likely be included in a problem statement? A. results of analysis B. "so whats" C. success criteria D. root causes
A
Which of the following would an index help measure? A. Market penetration B. Total sales C. Market norms D. Average price E. Market size
D
Which of these approaches to obtaining and retaining high quality data is likely the most expensive? A. prevention B. outsourcing C. detection D. repair
C
Which of these is NOT true about a bar chart? A. it is similar to a column chart B. you can stack the data C. it cannot show as much information as a column chart D. it is useful when you have a lot of data
B
Which of these is a measure of dispersion? A. mode B. variance C. mean D. moving average
C
Which of these is least likely a characteristic of a good KPI? A. able to update regularly B. easy to interpret C. represents financial data D. aligned with a strategic goal
A
Which of these is most likely a problem associated with the "5 whys" approach? A. it relies on personal experience B. it is an introductory method of problem solving C. it's data driven D. it takes too long to conduct
A
Which of these is true regarding correlation? A. Correlation cannot be greater than one. B. Correlation cannot be zero. C. At the limit, correlation can be infinite. D. Correlation is generally negative.
C
Which of these situations would most likely raise concerns about data completeness? A. A database of cash register transactions in which an employee sometimes mistypes an inventory number. B. A minute-by-minute temperature record for a refrigerated truck that records an error message rather than a temperature about once an hour. C. A database of employee salaries and benefits that excludes the firm's senior executives.
C
Which type of data is categorical data? A. ratio B. interval C. nominal D. ordinal
B
Which type of ratios measure how well the business is performing over a specific period, and will it have the resources to continue? A. operational efficiency ratios B. profitability sustainability ratios C. leverage ratios D. liquidity rations
B
a) Which is a graphical presentation? (b) Which is developed first? A. (a) scorecard, (b) dashboard B. (a) dashboard, (a) scorecard C. (a) scorecard, (b) scorecard D. (a) dashboard, (b) dashboard
C
Consider an inventory list for an art gallery. The "type" of each piece is listed, such as painting, print, sculpture, weaving, etc. What measure of central tendency could be used to analyze the "type" data A. variance B. mean C. mode D. median
E
For ratios to be useful and meaningful, they should: A. be calculated upon request B. have a meaningful zero C. be calculated only once D. be calculated automatically every time E. be calculated consistently from period to period
B
For which of the following are ratios not regularly used for comparison? A. prior periods B. other companies outside of your industry C. other companies in your industry D. internal goals
C
For a given set of data, which of these is always largest? A. population standard deviation B. population variance C. sample variance D. sample standard deviation
B
For data to be deemed accurate requires: A. all data elements are without error. B. any errors do not interfere with the predictions extracted from the data. C. reported values are within 1% of the true values. D. a means for a quick solution to the issue
B
Data are considered relevant if they: A. are available frequently with minimum delay. B. meet the needs for which they are being used. C. provide the solutions to the problems being addressed D. all of the above
C
When is an executive summary written? A. at the start of the final report B. in conjunction with the rest of the final report C. after the final report is completed D. none of the above
A
When we first encounter a problem, we are mostly likely to observe its: A. symptoms B. causes C. initial occurance D. resolution
E
Which decision making tool creates a score based on the factors affecting the decision? A. Conjoint analysis B. T Chart C. SWOT analysis D. Pareto analysis E. Decision matrix
D
Which decision making tool is best used to prioritize decisions when multiple decisions need to be made? A. Conjoint analysis B. T Chart C. SWOT analysis D. Pareto analysis E. Decision matrix
B
Suppose we are using a KPI that is continuously updated. A question we must most likely ask is: A. Does its availability meet our tracking needs? B. How often should we look at it? C. How cheap is it to collect? D. Never ask questions when using KPIs
F
T/F/: Cover Letter is only used for a resume.
F
T/F: A sales increase of 5% is always good.
T
T/F: All of us as individuals have a different moral compass.
F
T/F: An executive summary replaces the need for an introduction.
T
T/F: An open-ended survey question usually collects qualitative data.
F
T/F: Data is considered irrelevant if it can be used for additional purposes
T
T/F: Employees can manipulate both quantitative and qualitative data of a company.
T
T/F: Excel can create graphs using more than one y-axis.
T
T/F: From an employee viewpoint, high quality data is data that is in conformance to standards.
F
T/F: Loyalty is a valid excuse for unethical behavior
T
T/F: Survey best practices recommend breaking down complicated questions into multiple survey questions.
F
T/F: The most important ratios to a business are always those that apply across all industries.
F
T/F: You can be an ethical executive and only share partial truths as long as it is in the best interest of the shareholders.
F
T/F: You can only create new graphs using the types shown as Recommended Charts.
F
T/F: You should NOT use headings in an executive summary.
T
T/F: You should know your goal and identify your audience before you start to write.
A
The "5 whys" is most likely a tool designed to help determine a problem's: A. root causes B. symptoms C. success criteria D. consequences
B
The "7 so whats" approach is most likely designed to help determine: A. the assumptions underlying a business' operational structure B. consequences of proposed solutions to a problem C. the chain of events leading from problem to solution D. the potential causes of an observed symptom
B
The "sandwich technique" is used to... A. explain root causes B. soften the impact of addressing difficult subjects C. put the most direct news first D. exaggerate the impact of addressing important subjects
B
The 80/20 rule-of-thumb most likely reminds us to solve problems that: A. are unlikely to have measurable consequences B. have especially large impacts C. affect all stakeholders D. have clearly defined causes
D
Which is NOT a factor that separates executive decision making from managerial (day-to-day) decision making? A. long term revenue impacts of the decision B. changes to the people running the business C. likely competitive response D. none of the above
B
Which is a simple method to weigh pros and cons? A. Conjoint analysis B. T Chart C. SWOT analysis D. Pareto analysis E. Decision matrix
C
Which is more useful, a legend or data labels? A. legends B. data labels C. it depends on the data being displayed D. none of them should be used
D
Which is not a benefit of benchmarking? A. leveraging areas of strength B. better performance C. improved quality D. keeping shareholders satisfied
C
The fishbone diagram is also known as the: A. martingale diagram B. 6 sigma matrix C. cause and effect diagram D. decision tree
C
The main difference between ratio and interval data is: A. interval data is the same as ordinal data B. interval data is more useful than ratio data C. ratio data uses a meaningful zero, interval does not D. interval data uses a meaningful zero, ratio does not
A
Which is the best graph to show a trend? A. line B. area C. column D. pie
D
Which is the best type of graph to show proportions of a whole A. line B. area C. column D. pie
A
Which measure of central tendency is calculated as the value for which half the observations are higher and half the observations are lower? A. median B. mean C. mode D. variance
D
Which measure of central tendency is most affected by outliers (extreme values)? A. median B. variance C. mode D. mean
D
The timeliness of data refers to: A. how long a period it represents. B. how long it took for the data to be collected C. how quickly users can access it after it is collected. D. how recent it is
C
Viewing a problem "through a different lens" is least likely accomplished by looking at the problem: A. from a different point of view B. in a different context C. with different objectives D. assuming different circumstances
B
We develop an experiment in which we measure how quickly a pot of water boils based on the heat setting on the stove and the amount of salt we add to the pot. In this experiment: A. time to boil and heat setting are independent variables B. time to boil is a dependent variable and the amount of salt is an independent variable C. the amount of salt and the heat setting are dependent variables D. heat setting is a dependent variable and time to boil is an independent variable
A
What is an advantage of standard deviation relative to variance? A. it is in the same unit of measurement as the data B. it is always smaller than the variance C. it is unaffected by outliers D. it is the average of the squared deviations, not the total
B
What is an advantage of using a moving average rather than the raw data? A. it is easier to create B. it smoothes out periodic increases and decreases C. it ignores outliers (extreme values) D. it is easier to display graphically
C
What is the first step in decision making? A. listing action steps B. analyzing data C. defining the problem D. measuring the outcome
