WGU C207 Pre-Assessment Multi Choice Version Data-Driven Decision Making (PVPC)

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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? a. Prescriptive b. Predictive c. Pareto chart... d. Biased ✔✔a What are two reasons for the increasing use of analytics in organizational decision making? a. Relatively lower cost of computer storage b. Lower availability of statistical experts c. Higher cost of obtaining data d. Higher computer processing power ✔✔a, d In what way does probability theory inform decision-making for managers? a. By quantifying risk b. By quantifying data c. By quantifying quality d. By quantifying costs ✔✔a Which type of data are the Olympic medals of gold, silver, and bronze examples of? a. Nominal data b. Ordinal data c. Interval data d. Ratio data ✔✔b [Show More]

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