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Last Updated: Aug 11, 2026
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| Section | Objectives |
|---|---|
| Regression and Correlation Analysis | - Linear regression modeling - Interpreting correlation and causation |
| Decision Making Models | - Risk and uncertainty in decision-making - Decision trees and expected value analysis |
| Probability and Statistical Inference | - Probability concepts and distributions - Sampling methods and sampling error |
| Hypothesis Testing | - Null and alternative hypotheses - t-tests, chi-square tests, and significance testing |
| Data Fundamentals and Business Analytics | - Data types and data collection methods - Descriptive statistics (mean, median, variance, standard deviation) |
1. Which two characteristics must a researcher consider concerning data quality when ensuring that an analysis is based on a clean data set?
Choose 2 answers.
A) The data must be relevant.
B) The data elements must be unique.
C) The data cannot contain outliers.
D) The age of the data does not matter if the data are complete.
2. Research data indicate 95% confidence in a study in which subjects who were shown a product advertisement exhibited brand awareness compared to a control group who did not see the advertisement.
What can be concluded from this study?
A) Five percent of the subjects did not like the advertisement.
B) The advertisement was effective in building brand awareness.
C) The advertisement was effective in increasing sales.
D) Ninety-five percent of the subjects liked the brand.
3. Which tool should be used to closely monitor inputs and outputs?
A) SIPOC diagram
B) Joint financial statements
C) Business process diagram
D) Individual pro forma statements
4. Which statement is an accurate reflection of an analytical decision made by a for-profit organization?
A) Optimize profit using hardware programming.
B) Optimize profit using social programming.
C) Optimize profit using linear programming.
D) Optimize profit using software programming.
5. A county government wants to start a cost-effective recycling program. How can the county apply data analytic approaches to attain this goal?
A) By conducting best practices research regarding audit performance
B) By aligning fund allocations with the number of department employees
C) By analyzing budgetary impacts of county contracts
D) By benchmarking similar strategies of other counties
Solutions:
| Question # 1 Answer: A,B | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: D |
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