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| Section | Objectives |
|---|---|
| Topic 1: Data Analysis Fundamentals | - Data Quality and Cleaning - Descriptive Statistics - Data Types and Measurement Scales - Data Visualization Techniques |
| Topic 2: Data-Driven Culture and Communication | - Presenting Data Insights - Ethical Considerations in Data Use - Building Data-Informed Organizations - Stakeholder Communication |
| Topic 3: Business Intelligence and Analytics | - Data Mining Concepts - Predictive Analytics Basics - Dashboards and Reporting - Key Performance Indicators (KPIs) |
| Topic 4: Decision-Making Frameworks | - Evidence-Based Decision Making - Cost-Benefit Analysis - Risk Analysis and Assessment - Rational Decision Models |
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NEW QUESTION # 31
A normally distributed data index of vehicle safety ratings has a mean of 100 and a standard deviation of 15.
What is the probability that a randomly selected vehicle safety score from the data set will be between 85 and
115?
Answer: A
Explanation:
The interval from 85 to 115 is exactly one standard deviation below and above the mean, since the mean is
100 and the standard deviation is 15. In a normal distribution, the empirical rule states that approximately 68 percent of observations fall within one standard deviation of the mean, about 95 percent fall within two standard deviations, and about 99.7 percent fall within three standard deviations. Because the range 85 to 115 corresponds to mean ± 1 standard deviation, the probability of selecting a score in that range is about 68 percent. Among the available options, 68.8 percent is the correct choice and best represents this probability.
The other values correspond to wider intervals: 95.4 percent is associated with two standard deviations and
99.7 percent with three. A value of 100 percent would imply every possible score lies in that range, which is not true for a normal distribution. Therefore, the correct answer is 68.8 percent because the question describes the one-standard-deviation interval around the mean.
NEW QUESTION # 32
A company runs a regression analysis to determine sales based on advertising expenditures, which can be shown in a linear equation as y = 2x + 25,000. The company plans to spend $20,000 on advertising.
Which sales figure should the company expect to generate based on the given equation?
Answer: B
Explanation:
In linear regression, the equation y = mx + b is used to predict the value of the dependent variable based on the independent variable. In data-driven decision making, this equation represents the estimated relationship between advertising expenditure and sales revenue.
Here,xrepresents advertising spending,mis the slope (2), andbis the intercept ($25,000). Substituting the planned advertising expenditure of $20,000 into the equation gives:
y = 2(20,000) + 25,000
y = 40,000 + 25,000
y = 65,000
This result represents the expected sales revenue based on the regression model. The intercept indicates baseline sales when advertising spend is zero, while the slope shows the increase in sales for each additional dollar spent on advertising.
Therefore, the company should expect to generate$65,000in sales, making optionCthe correct answer.
NEW QUESTION # 33
A county government is creating a budget for the next fiscal year. They wish to use analytics to guide their decisions about costs. Which analytic method can the county apply to this issue?
Answer: A
Explanation:
When a county government wants to guide budgeting decisions about costs, a useful analytic method is benchmarking against comparable organizations. The best answer is average cost per project spent by other similar counties because it provides an external reference point that can help evaluate whether the county's own spending is reasonable, efficient, or out of line with peers. This type of comparative analytics is especially valuable in public-sector budgeting, where governments often seek cost-effective practices and want to justify expenditures based on comparable performance. The number of projects completed, whether measured by median or average, does not directly address cost decisions. Median cost for all county projects may summarize internal spending, but it does not offer the broader perspective available from comparison with similar counties. Benchmarking external averages supports better resource planning and helps identify opportunities for improvement. Therefore, the correct answer is average cost per project spent by other similar counties.
NEW QUESTION # 34
What are two benefits of good data quality management in improving business decision-making?
Choose 2 answers.
Answer: A,C
Explanation:
Good data quality management plays a critical role in improving business decision-making by ensuring that data is accurate, complete, and reliable. One key benefit is that itensures there are no missing data points, which helps maintain data completeness. Missing data can distort results, reduce analytical power, and lead to incorrect conclusions, especially in descriptive and inferential statistics.
Another important benefit is that data quality managementmitigates undetected errors from the data-entry process. Errors such as duplicate entries, incorrect values, or inconsistent formats can significantly bias analysis if left unnoticed. Through validation checks, cleaning procedures, and governance standards, organizations reduce the risk of flawed insights.
While good data quality supports better analysis, it does not guarantee statistical significance, as significance depends on sample size, variability, and study design. Similarly, it does not necessarily make the statistical process faster; in fact, data cleaning can be time-consuming. However, it improves theaccuracy and trustworthinessof outcomes.
In data-driven decision making, high-quality data is essential because decisions are only as good as the data used to support them. Therefore, the correct answers areA and D.
NEW QUESTION # 35
Which step in the plan-do-check-act cycle is described as analyzing the results of an experiment and deciding whether those results can be improved?
Answer: D
Explanation:
TheCheckphase of the Plan-Do-Check-Act (PDCA) cycle involves evaluating outcomes and analyzing results. In data-driven decision making, this step compares actual performance against expected results to determine whether objectives were met.
During the Check phase, organizations review data, assess variation, and identify opportunities for improvement. Planning defines objectives, Doing implements changes, and Acting standardizes or adjusts processes based on evaluation.
Therefore, the correct answer isA, Check.
NEW QUESTION # 36
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