C207 Data-Driven Decision Making Practice Questions - Set 2 - Part 1

Test your knowledge of data-driven decision making concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 1: In a normal distribution, approximately what percentage of data points will fall within one standard deviation of the mean?

50%

68.3%

75%

95.4%

Question 2: What is the strongest relationship between variables based on the following correlation coefficients?

-0.99

0.75

0.50

-0.25

Question 3: A positive linear relationship is one in which:

The dependent variable decreases as the independent variable increases

The dependent variable increases as the independent variable increases

There is no relationship between the variables

The relationship between the variables fluctuates over time

Question 4: Quantitative analysis is another name for:

Regression analysis

Statistical analysis

Data mining

Analytics

Question 5: If a dataset is presented on a scale of hours per week, which scale of measurement is being used?

Nominal

Ordinal

Interval

Ratio

Question 6: The use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and add value is known as:

Predictive analysis

Business intelligence

Analytics

Cluster analysis

Question 7: The data type that is also called categorical data is known as:

Continuous data

Ordinal data

Ratio data

Nominal data

Question 8: What kind of data is represented by measurements such as "First, second, third, fourth"?

Ratio data

Interval data

Ordinal data

Nominal data

Question 9: What kind of data is represented by measurements such as "1.37, 2.65, 3.91 inches"?

Discrete data

Continuous data

Ordinal data

Nominal data

Question 10: A data point that can only take on whole values and has clear boundaries is called:

Continuous data

Ordinal data

Discrete data

Ratio data

Question 11: If a measure is consistent and repeatable, it is said to be:

Valid

Reliable

Accurate

Precise

Question 12: Cleaning and organizing data that has been collected is known as:

Data mining

Data management

Data analysis

Data collection

Question 13: Systematic errors in data collection are often caused by:

Random fluctuations

Consistent biases or faulty equipment

Statistical fluctuations

Human error

Question 14: The science that deals with the interpretation of numerical facts or data through theories of probability is called:

Data mining

Statistics

Analytics

Regression analysis

Question 15: Benchmarks are used in business to:

Set sales targets

Monitor employee performance

Compare the organization’s performance to industry standards

Create internal process maps

Question 16: The Davenport-Kim Three-Stage Model includes which of the following stages?

Planning, executing, reviewing

Framing the problem, solving the problem, communicating results

Analyzing data, interpreting data, acting on data

Gathering data, analyzing data, applying data

Question 17: What kind of data can only take on whole values and cannot be fractional?

Ordinal data

Continuous data

Discrete data

Interval data

Question 18: Big Data refers to:

A type of regression analysis

A collection of data too large to process using traditional methods

A data visualization technique

A specific statistical test

Question 19: Which of the following is a characteristic of reliable data?

It can be easily modified

It is consistent and repeatable

It is only useful in small sample sizes

It produces different results each time it is tested

Question 20: Valid data is defined as:

Data that is consistent

Data that measures what it is supposed to measure

Data that is easy to analyze

Data that can be repeated

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