Quiz 1 - Decision Making & Business Analytics
The decisions concerning an organization's goals and future plans are called
strategic decisions
A quantity of interest that can take on different values is known as a ____________.
variable
The difference in a variable measured over observations (time, customers, items, etc.) is known as _____________.
variation
In the spectrum of business analytics, which is the most complex?
Prescriptive
The letter grades (A, B, C, D F) of a business analysis students are recorded by a professor. This variable's classification __________.
is categorical data
Which of the following is not an approach to making decisions?
Guess and check
A population is a subset of a sample.
False
Data collected from several entities over a period of time (minutes, hours, days, etc.) are called cross-sectional data.
False
Data dashboard are a type of predictive analytics.
False
Data-driven decision making trends to decrease a firm's risk.
True