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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Statistical Concepts & Descriptive Analytics | 25% | - Data visualization: charts, graphs, dashboards - Data types, measurement scales, sampling methods - Measures of central tendency, dispersion, distribution |
| Topic 2: Probability & Statistical Inference | 20% | - Probability rules, distributions, expected value - Hypothesis testing, p-values, confidence intervals - Correlation vs. causation |
| Topic 3: Foundations of Data-Driven Decision Making | 20% | - Types of analytics: descriptive, predictive, prescriptive - Ethics, privacy, and data governance - Role of data in business decisions |
| Topic 4: Decision Models & Prescriptive Analytics | 15% | - Quality & process improvement tools - Decision trees, payoff matrices, expected value - Optimization, sensitivity analysis |
| Topic 5: Predictive Analytics & Regression | 20% | - Interpreting coefficients, R-squared, significance - Simple & multiple linear regression - Forecasting & trend analysis |
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NEW QUESTION # 73
A county government must increase trust among voters that their tallying machines are accurately calibrated to count their votes. Each department is tasked with creating an online marketing campaign; however, the budget for these campaigns is limited.
How can the county apply data analytic approaches to allocate funds to each department?
Answer: D
Explanation:
Allocating limited resources effectively requires identifying where needs and risks are greatest. In data-driven decision making,measuring voter complaints per departmentprovides a direct, objective indicator of trust issues and communication gaps.
Departments with higher complaint volumes may require greater outreach to restore voter confidence. Using this metric allows funds to be allocated where they will have the greatest impact. Benchmarking turnout rates does not isolate departmental needs, and surveys of controllers or employees introduce subjectivity rather than evidence-based prioritization.
Therefore, the correct answer isA.
NEW QUESTION # 74
A hospital hires a third-party company to train its surgery team on the latest techniques and assess the team's current procedures in the operating room.
Which results-based management (RBM) stage is represented in this scenario?
Answer: C
Explanation:
In results-based management (RBM),activitiesrepresent the actions undertaken to achieve desired outputs and outcomes. In data-driven decision making, activities include training, assessments, and implementation efforts.
Hiring a third-party company to train staff and assess procedures is an action being performed, not the result of that action. Inputs would include funding or resources, outputs would be trained staff or reports, and outcomes would reflect improved surgical performance.
Therefore, the correct answer isD, activities.
NEW QUESTION # 75
The U.S. Postal Service wants to know if local first-class mail is being delivered within two days of postmark.
Which key performance indicator (KPI) should the Postal Service use?
Answer: B
Explanation:
On-time performanceis the most appropriate KPI for measuring whether mail is delivered within a specified timeframe. In data-driven decision making, KPIs must align directly with operational objectives.
The Postal Service's goal is to assess delivery timeliness. On-time performance measures the percentage of mail delivered within the expected service standard, making it a direct and objective indicator.
Customer satisfaction and employee morale provide valuable insights but do not directly measure delivery speed. Incentive performance rate is unrelated to delivery outcomes.
Therefore, the correct answer isC, on-time performance.
NEW QUESTION # 76
A manager has been assigned to manage a digital marketing analytics team. The manager tasks the team with determining similarities among existing customers in the company's database, such as similarities in products purchased, location, and the average amount spent per order among existing customers.
Which type of activity will help the team accomplish this task?
Answer: D
Explanation:
Data miningis the appropriate activity for identifying patterns, similarities, and relationships within large datasets. In data-driven decision making, data mining techniques such as clustering and association analysis are commonly used to segment customers based on behavior and characteristics.
The task described involves uncovering hidden patterns across multiple variables, which aligns directly with data mining objectives. Linear programming focuses on optimization, regression predicts outcomes, and touchpoint analysis examines customer interactions rather than similarities.
Therefore, the correct answer isA, data mining.
NEW QUESTION # 77
A student is surveying chief executive officers to understand their levels of satisfaction with work-life balance over a period of three years. The student receives responses to a survey with a question regarding how many hours a week each CEO works. Which statistical approach should be used to summarize the data for analysis?
Answer: A
Explanation:
The question asks how to summarize responses about how many hours each CEO works per week. Since hours worked is a numerical variable, a measure of central tendency is appropriate for summarizing the data.
The mean is the standard choice for describing the average number of hours worked across respondents. It provides a single representative value that can be used to understand the general workload pattern in the group. A bell curve is a distribution shape rather than a summary statistic. A scatterplot is a graphical tool used to display relationships between two quantitative variables, not to summarize one variable's central value. The median can also summarize numerical data, especially if there are strong outliers, but the most direct and standard summary for average hours worked is the mean unless the question specifically emphasizes skewness or resistance to outliers. Since the prompt asks for a statistical approach to summarize the data for analysis, the best answer is mean.
NEW QUESTION # 78
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