C207 Pre-Assessment

30. An analyst used multiple linear regression to explore how Store A's sales (y) are predicted by Store A's advertising expenditure dollars (variable x1) and the advertising expenditure dollars of Store A's competitor (variable x2). The estimated regression is y = 532 + 80.5x1 - 35.6x2. How much sales would be predicted if x1 is $1,000 and x2 is also $1,000? O $44,900 O $45,432 O $116,632 O $44,367

O $45,432

18. Given the following data set 9, 12, 14, 10, 8, 11, 12 What is the mode? O 8 O 9 O 11 O 12

O 12

28. The following is a graph of a normally distributed data set with a mean of 10 and a standard deviation of 2: What is the probability that a randomly selected event from the data set will be between 8 and 12? O 68.2% O 95.4% O 99.6% O 100%

O 68.2%

24. The number of customers that an automobile service shop receives on any given day is normally distributed with a mean of 75 and a standard deviation of 25. On a given day, 125 oil changes are performed. What is the probability on a given day of 125 or fewer oil changes performed? O 97.7% O 67% O 68.5% O 99%

O 97.7%

25. A nonprofit organization ran an e-mail campaign with three different messages to solicit additional donations. What should the nonprofit organization use to determine if the average donation differs for the different messages? O Median O ANOVA O Mean O T-test

O ANOVA

42. In a statistical process control analysis, sample data are collected from an assembly line an measured to see if they fall within a tolerated measurement range. If an observation does fall within the range, a "yes" is recorded. If it falls out of the range, a "no" is recorded. Which kind of data do the "yes" or "no" represent? O Biased data O Big data O Variable data O Attribute data

O Attribute data

32. A researcher looks at moving average data on store sales and wishes to perform a multiple regression of interest rates and disposable income. What is a particular concern when performing time series multiple regression? O Multicollinearity O Autocorrelation O Homoscedasticity O Heteroscedasticity

O Autocorrelation

51. Which approach uses financial, customer, internal business processes, and innovation/learning measures? O Management by objectives O Results-based management O Key performance indicators O Balanced scorecard

O Balanced scorecard

17. A hardware store has found that there is a 0.25 probability that a customer buys an electrical product, a 0.45 probability that a customer buys a plumbing product, and a 0.10 probability that a customer buys an electrical product if they purchase a plumbing product Which statistical rule can be used to determine the probability that a customer buys a plumbing product given that this customer has purchased an electrical product? O Combination O Multiplication O Conditional probability O Bayes' theorem

O Bayes' theorem

63. How can organizations implement an effective performance management evaluation system? O By surveying employees about management O By establishing a balanced scorecard O By studying trends in management evaluation O By benchmarking against other organizations

O By establishing a balanced scorecard

62. A county government wishes to convert government vehicles from gasoline to natural gas. How can the county evaluate the effectiveness of the conversion? O By estimating the payback period O By aligning fund allocations with number of departmental employees O By analyzing budgetary impacts of county contracts O By conducting best practices research regarding audit performance

O By estimating the payback period

3. How does probability theory inform decision-making for managers? O By quantifying costs O By quantifying quality O By quantifying risk O By quantifying data

O By quantifying risk

9. A healthcare study follows a particular sample over time to identify how the health habits of teenagers impact their likelihood of acquiring various diseases later in their life. The healthcare organization hopes this data will allow them to create early prevention programs. Which type of research design does this study describe? O Systematic study O Cohort study O Double-blind study O Experimental study

O Cohort study

14. A researcher concludes that bananas create healthy children because the researcher's notes indicate that children who eat a banana every day are healthy. Which misuse of statistics would this study be an example of if these children also eat a balanced diet and exercise daily? O Confusion of association and causality O Faulty operationalization O Unfounded assumptions O Lack of blinding

O Confusion of association and causality

47. A check sheet indicates that of 100 returned items, 50 were damaged upon delivery, 30 were the wrong size, 10 were of poor quality, 5 were a mistaken order, and 5 were returned due to the customer no longer wanting the item. What is the appropriate way to represent these data? O Construct a flow chart O Construct a control chart O Construct a cause-and-effect diagram O Construct a Pareto chart

O Construct a Pareto chart

29. A manager uses a linear regression to examine how the store's retail sales are predicted by advertising expenditures. Which type of variable do retail sales represent in this regression? O Control variable O Dependent variable O Predictor variable O Independent variable

O Dependent variable

55. A national manufacturer is building an overseas factory to be closer to one of its largest markets. Which analysis technique would be appropriate when evaluating location options under risk in order to strengthen the firm's competitiveness in the new market? O Develop a run chart O Develop a draw flow diagram O Develop a decision tree O Develop a network diagram

O Develop a decision tree

15. In the month of December, there is a strong positive correlation between airline ticket sales and retail sales. Which question should the researcher consider before concluding that the correlation statistic implies that airline sales drive retail sales? O Does the sample accurately reflect the population? O Are the data biased? O Does a causal relationship truly exist? O Is the sample size large enough?

O Does a causal relationship truly exist?

48. A hotel chain is interested in improving its customer service by reducing the amount of time it takes customers to check in. Which analysis technique should they use? O Network diagram O Tree diagram O Matrix diagram O Flowchart

O Flowchart

40. Which phrase is a description of quality assurance? O Recommends corrective action O Is able to be replaced by quality control activities O Is reactive and causal O Focuses on training

O Focuses on training

2. What are two reasons for the increasing use of analytics in organizational decision making? Choose 2 answers. O Higher computer processing power O Higher cost of obtaining data O Relatively lower cost of computer storage O Lower availability of statistical experts

O Higher computer processing power O Relatively lower cost of computer storage

50. An organization develops a new strategic plan and seeks ways to measure its performance over a specific period of time. Which system enables the organization to measure performance based upon established global standards? O Value chain O Balanced scorecard O ISO O Six Sigma

O ISO

56. What is the most important analytic to determine the success or failure of a particular year's flu vaccine? O Number of persons who failed to get the flu vaccine O Incidence accounting for all new cases O Consumer satisfaction survey of all existing cases O Cost/benefit comparing the advantages and disadvantages

O Incidence accounting for all new cases

45. What does this scatter diagram of an organization's retail sales and advertising expenditures indicate? O The advertising campaign has no relationship to retail sales. O The advertising campaign has caused retail sales to decrease. O The advertising campaign has caused retail sales to increase. O Increases in advertising expenditures are associated with increases in retail sales.

O Increases in advertising expenditures are associated with increases in retail sales

60. What is true of cost-effective analysis? O It analyzes the cost of achieving a quantifiable goal. O It is often used in the private sector, but not the public sector. O It analyzes the cost of intangible assets. O It balances a government budget.

O It analyzes the cost of achieving a quantifiable goal.

53. What is a description of data mining? O It identifies causal relationships in large data sets. O It is typically performed in extraction industries. O It discovers patterns or trends in large data sets. O It evaluates the validity of data extraction.

O It discovers patterns or trends in large data sets.

67. What is a disadvantage of a balanced scorecard? O It has difficulty linking an organization's operations with its strategy. O It requires significant time and effort to establish a meaningful scorecard. O It weakens organizational alignment O It can weaken internal and external communication.

O It requires significant time and effort to establish a meaningful scorecard.

65. How do balanced scorecards differ from KPI dashboards? O KPI dashboards provide visual representations of KPls, such as charts and graphs. O Balanced scorecards focus only on financial data. O KPI dashboards improve organizational alignment. O Balanced scorecards are better to use for graphical or visual representations than KPI dashboards

O KPI dashboards provide visual representations of KPls, such as charts and graphs.

49. Which approach focuses on eliminating activities that fail to add value or satisfy customers? o Six Sigma o Design for Six Sigma o International Organization for Standardization (ISO) certification O Lean Operations

O Lean Operations

12. A company that raises turkeys is hoping to increase the rate of growth of the turkeys while controlling the cost of feeding them. It has determined that feeds containing both nutrients and protein can be used. Which decision-making technique is most appropriate for this company to minimize the cost of feeding the birds? O Correlation O Linear programming O Chi-square O Z-score

O Linear programming

22. A manager analyzes a data set that includes information on individual incomes. The manager knows that the data set is fairly representative of the general population and includes several millionaires. Based on this data set, which measure of central tendency best represents the middle of the distribution? O Median O Mean O Frequency O Mode

O Median

69. A professional services firm is undergoing a business process improvement exercise to improve productivity, staff morale, and client satisfaction. Which technique should the firm use to evaluate the strength of customer service relations? O Net promoter score O Results-based management O Balanced scorecard O KPI dashboard

O Net promoter score

4. Which type of data are the Olympic medals of gold, silver, and bronze examples of? O Ratio data O Interval data O Ordinal data O Nominal data

O Ordinal data

34. A researcher wants to predict student test scores based on hours spent studying. Which type of regression would be more appropriate? O Weighted least squares regression O Logistic regression O Multiple regression O Ordinary least squares regression

O Ordinary least squares regression

46. A college is reviewing statistics concerning student retention. The college would like to determine the most important factors that cause students to leave. The college asks a researcher to display this information using one of the seven basic tools of quality. Which tool should be used in this case? O Flow chart O Run chart O Histogram O Pareto chart

O Pareto chart

39. An organization is concerned about whether quality control standards are being met and develops a strategy to test quality control metrics. Which step does this represent in the plan-do-check-act cycle? O Check O Act O Do O Plan

O Plan

1. 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? O Descriptive O Pareto chart O Biased O Prescriptive

O Prescriptive

41. A joint venture is established between two firms to use their core competencies to increase their market share. How would a SIPOC (suppliers, inputs, process, outputs., and customers) diagram benefit the joint venture? O Logs production errors. O Provides a holistic view of the entire operation. O Measures client satisfaction. O Tracks financial performance.

O Provides a holistic view of the entire operation.

31. A company decides to auction excess inventory on an auction website. The company has performed a regression analysis to identify how the length of the auction impacts the final price. Which statistic indicates the strength of the relation ship between the length of the auction and final price? O F-statistic O P-value O R-squared O Z-score

O R-squared

8. 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? O Intervention O Treatment O Experimental Unit O Response Variable

O Response Variable

70. professional services firm wants to track and monitor important financial performance measures of the company (e.g., year-over-year change in revenues and profits). Which performance approach would meet the company's objective? O Results-based management O Incidence rate O True score method O Net promoter score

O Results-based management

44. Which of lshikawa's seven basic tools of quality is used to illustrate performance measurements over time? O Cause and effect diagram O Run chart O Pareto chart O Flowchart

O Run chart

36. A doctoral student surveys chief executive officers (CEOs) to understand their relationships with their governing boards. The student determines the years of business experience for each CEO as well as their rating, on a 10-point scale, of satisfaction with the governing board. Which statistical approach should be used to display the data for analysts? O Bell curve O Scatter plot O Mean O Median

O Scatter plot

19. Which graphical tool is used to illustrate a possible relationship or correlation between two variables? O Run chart O Scatterplot O Box plot O Histogram

O Scatterplot

33. A retail store notices a spike in turkey sales every November. Which time series pattern are turkey sales likely to exhibit? O Cyclical O Seasonal O White noise O Trend

O Seasonal

54. Which common analytic measure is used to improve business performance? O Base period index O Simple composite index O SIPOC index O Consumer price index

O Simple composite index

43. A soft drink manufacturer performs a control chart analysis and the results indicate that the soft drink bottles are consistently under-filled by a large amount according to specifications. The system was evaluated three months prior and was determined to be stable and filling bottles within accepted limits. What is this consistent underfilling an example of? O Incapable process O Common cause variation O Subjective cause variation O Special cause variation

O Special cause variation

23. After evaluating manufacturing times for a particular product, a manager determines that the times are spread out across the distribution. The manager has been asked to determine how far, on average, the time is from the mean. Which statistic roughly measures the average distance of a data point from the mean of the distribution? O Mode O Standard deviation O Median O Arithmetic mean

O Standard deviation

64. Which key performance indicator can a hotel chain use to measure its ability to meet client tastes and preferences? O Analyze national data on tourism for length of stay O Survey staff members for customer service recommendations O Survey customer satisfaction upon checkout O Benchmark other hotel chains' best practices

O Survey customer satisfaction upon checkout

7. 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? O Systematic error O Omission error O Random error O Information error

O Systematic error

10. Several missing values in a particular field in a dataset were observed. The likelihood of a record having a missing value is correlated to another variable in the dataset. Which two types of error might be introduced into the dataset if the removed record included missing values? Choose 2 answers. O Typographical error O Random error O Systematic error O Omission error

O Systematic error O Omission error

21. A research study examined the impact of product advertisement exposure on that product's brand awareness. The appropriate statistical test indicates that the null hypothesis should be rejected at the 5% significance level. What can be concluded from this study? O Five percent of the subjects did not like the advertisement O The advertisement was effective in building brand awareness. O The advertisement was effective in increasing sales. O Ninety-five percent of the subjects liked the brand.

O The advertisement was effective in building brand awareness.

20. What does it mean when an individual data point has a z-score of -2? O The data point is two standard deviations less than the mean of the data set. O The sample standard deviation of the data set is negative. O The data point is equal to the mean of the data set O The data point is greater than the mean of the data set.

O The data point is two standard deviations less than the mean of the data set

58. What does True Score Theory state about a test without systematic error? O The observed score contains no random error. O The observed score contains no error. O The observed score is the true score. O The observed score is the true score plus random error

O The observed score is the true score plus random error

57. The management for Hospital A conducted a survey of its patients' opinions including gathering demographic data to determine which programs should be pursued during the upcoming fiscal year. Upon analyzing the response on the need for a cosmetic surgery program for the hospital, it was found that there was an r score of 0.75, and a p of 0.03 between a patient's income level and support for the creation of a cosmetic surgery department. What is an effective strategic decision based on an analysis of the given information? O There is a weak positive relationship for a cosmetic surgery program as a function of income, and this program should not be developed in high income areas. O There is a strong positive relationship for a cosmetic surgery program as a function of income, and this program should be developed in high income areas. O There is a strong positive relationship for a cosmetic surgery program as a function of income, and this program should not be developed in high income areas. O There is a weak positive relationship for a cosmetic surgery program as a function of income, and this program should be developed in high income areas.

O There is a strong positive relationship for a cosmetic surgery program as a function of income, and this program should be developed in high income areas.

66. What is a significant disadvantage of KPls? O They cannot be used for internal benchmarking. O They cannot be connected to external databases. O They fail to offer data-driven results. O They require significant ongoing maintenance.

O They require significant ongoing maintenance.

35. A doctoral student is surveying chief executive officers (CEOs) to understand their relationships with their governing boards. The student receives responses to a survey with 10 questions that rates the respective relationships. Why would the student measure the standard deviation of responses? O To understand the midpoint location of the data O To create a bell curve O To measure the spread of the data O To determine if the data is nonlinear

O To measure the spread of the data

59. The average test score of students taking an exam was 70% with a standard deviation of 8.5%. Which tool should be used to compare a student's score to the group average? O Regression O Correlation O Linear Programming O Z-score

O Z-score

61. A county government must reduce spending. It wishes to eliminate incremental budgeting and align budget allocations with each of its units' strategic business objectives. How can the county apply data analytic approaches to attain this goal? o By surveying the county controllers o By measuring number of voter complaints per department o By surveying employees on strategy matters o By benchmarking like strategies of successful counties

o By benchmarking like strategies of successful counties

37. Which two decision considerations describe fact-based decision making, according to the quality management principles? Choose 2 answers. □ Decisions foster trust in plans. □ Decisions have marginal effect on relationships with suppliers. □ Decisions use diversity of experience. □ Decisions reduce external bias.

□ Decisions foster trust in plans. □ Decisions reduce external bias.

52. Which two items represent steps of results-based management? Choose two answers. □ Define resources □ Develop four performance perspectives □ Study the long-term effects of the output □ Develop control charts

□ Define resources □ Study the long-term effects of the output

16. medical care provider determines the probability that a patient needs treatment for a broken bone, the probability that a patient needs treatment for a concussion, and the probability that a patient needs treatment for both a broken bone and a concussion. Which two techniques apply in finding the probability that a patient needs treatment for a broken bone and a concussion? Choose 2 answers. □ Intersection □ Multiplication principle □ Mutually exclusive □ Union

□ Intersection □ Multiplication principle

5. What are two aspects of data quality management? Choose 2 answers □ It cleans data. □ It reduces the amount of incomplete data. □ It calculates spurious data. □ It monitors data input rates.

□ It cleans data. □ It reduces the amount of incomplete data.

38. Which two statements describe how the dedication of leadership and a focus on process enhance quality? Choose 2 answers. □ It ensures clearly aligned goals. □ It enhances customer loyalty. □ It ensures a systems approach. □ It makes results easier to manage and achieve.

□ It ensures clearly aligned goals. □ It makes results easier to manage and achieve

26. A manager of a call center is in charge of creating a staffing plan. The number of calls received per day is normally distributed. Which two statistics would be needed to estimate the number of calls that would be received 95% of the time? Choose 2 answers. □ Median □ Interquartile range □ Mean □ Standard deviation

□ Mean □ Standard deviation

6. Which two attributes indicate potential data quality issues when evaluating a set of nominal data? Choose 2 answers. □ Out-of-range data □ Missing data □ Misspelled data □ Outlier data

□ Missing data □ Misspelled data

11. A company is trying to increase its online sales revenue by improving its e-mail advertising campaign for repeat customers as well as new customers. Which two variables would be used in determining a campaign to maximize revenue gain? Choose 2 answers. □ Spending per purchase □ Cost per e-mail □ Number of purchases per e-mail □ E-mail content

□ Spending per purchase □ Number of purchases per e-mail

68. In what two ways are KPI dashboards useful in performance assessment? Choose 2 answers. □ They inform managers on competitors. □ They tell managers how to write action plans. □ They show trends that represent organizational results over time. □ They are visual representations of key areas of focus.

□ They show trends that represent organizational results over time. □ They are visual representations of key areas of focus

13. Match each action with the appropriate statistical procedure Answer options may be used more than once or not at all. □ Understand effective marketing to spend advertising dollars efficiently □ Compare outcomes of different drug testing results □ Monitor production process O ANOVA O Control Charts O Correlation

□ Understand effective marketing to spend advertising dollars efficiently O Correlation □ Compare outcomes of different drug testing results O ANOVA □ Monitor production process O Control Charts