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The document presents a series of questions and solutions related to data-driven decision-making in business analytics, covering topics such as decision analysis, continuous improvement, performance indicators, and statistical measures. It emphasizes the importance of using appropriate analytical techniques to evaluate market uncertainties and improve business processes. Additionally, it discusses the relationship between various statistical measures and the implications of marketing strategies based on data analysis.
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0% found this document useful (0 votes)
13 views8 pagesWgu Mba
The document presents a series of questions and solutions related to data-driven decision-making in business analytics, covering topics such as decision analysis, continuous improvement, performance indicators, and statistical measures. It emphasizes the importance of using appropriate analytical techniques to evaluate market uncertainties and improve business processes. Additionally, it discusses the relationship between various statistical measures and the implications of marketing strategies based on data analysis.
Uploaded by
DavidCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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WGU MBA - DATA DRIVEN DECISION MAKING (BUSINESS
ANALYTICS) QUESTIONS AND VERIFIED ACCURATE SOLUTIONS
1. Describe why Decision Analysis is the appropriate technique for
evaluating the size of a gasoline station considering market
uncertainties.
Time Series Analysis focuses on historical data trends,
which may not apply to new market conditions.
Decision Analysis helps in evaluating different scenarios
and making informed choices under uncertainty.
Cluster Analysis groups similar data points but does
not aid in decision-making for uncertain factors.
Regression Analysis identifies relationships between
variables but does not account for uncertainty in decision-
making.
2. How does a commitment to continuous improvement contribute
to quality enhancement in business processes?
It prioritizes short-term gains over long-term quality
improvements.
It leads to consistently better products and
services, which increases customer satisfaction.
It encourages competition among employees rather
than collaboration.
It focuses solely on reducing costs without considering
quality.
3. The average time spent waiting in a queue for a bank teller is 8
minutes. The standard deviation is 30 seconds. What is the
tolerance of the process that exhibits the limits of normal
variation?
3 minutes to 12 minutes
7 to 9 minutes
6.5 minutes to 9.5 minutes
6 to 10 minutes
4. An organized method of recording data.
Check sheet
Cause-and-Effect
Diagram Pareto Chart
Histogram
Scatter Diagram
5. What is the primary purpose of a Key Performance Indicator (KPI)?
To track historical financial data
To monitor and measure the achievement of strategic
objectives
To evaluate the success of an advertising campaign
To measure the number of employees in an
organization To rank employees based on
performance
6. An economist wishes to study the distribution of household
income in a Midwestern city. He randomly selects a sample from
12 households. He notices two large incomes in his sample.
Which measure best represents the middle of the incomes?
Variance
Mean
Mode
Median
7. A food chain finds that there is a strong positive correlation
between average daily sales for their pizza store and the
number of daily visits to their website. What should be
considered before the pizza chain can
conclude that the daily sales are driving the number of visits to
their website (or vice versa)?
Can we compare sales in dollars to number of visits?
Is there a causal relationship between sales and site visits?
Is the central limit theorem
applicable? How many days are
considered?
8. Describe the role of the experimental unit in the context of
the product development team's testing of car waxes.
The experimental unit is the total number of washes
recorded during the test.
The experimental unit is the type of wax being applied to the
cars.
The experimental unit is the team conducting the tests.
The experimental unit refers to the individual cars that
are being waxed and tested for durability.
9. What is the relationship between mean, mode, and median
in a normal distribution?
Mean = Mode =
Median Mean =
Median > Mode Mean
> Mode > Median
Mean < Mode < Median
10. What are the two key performance indicators that an online
retailer should measure to improve its Amazon customer
services rating?
Measure shipping costs, Measure inventory turnover
Measure employee productivity, Measure average order size
Measure on time delivery, Measure customer return rate
Measure customer satisfaction, Measure order accuracy
11. A Company's product development team test 3 new car waxes by
waxing 5 cars with each wax and then running them through a car
wash. They then
record number of washes it takes before the wax begins to
deteriorate. What is the term for the five cars?
The
treatment
The response
The construct validity
The experimental unit
12. A local restaurant is attempting to reduce the time from taking a
customer's order to delivery of the order. Which quality tool
should the restaurant use to study their order process?
Flow
Chart
PDCA model
Check
sheet
Histogram
13. The process in which the costs and benefits of each
alternative
countermeasure are compared, and the most
appropriate alternative is selected, is called _.
Countermeasure/b
enefit analysis
Threat/cost
analysis
Impact/Cost analysis
Cost/benefit analysis
14. If the car dealership finds that increasing television
ads by 10% leads to a 5% increase in sales, while a
5% discount leads to a 3% increase, how might they
adjust their marketing strategy based on these
findings?
They should prioritize increasing
television ads over price discounts
to maximize sales.
They should reduce both television ads and
price discounts to save costs.
They should maintain the current level of
advertising and discounts without changes.
They should eliminate television ads and
focus solely on price discounts.
Marco employs a large number of people at his hotel
chain, ranging from many minimum wage hourly workers
to a handful of high-level executives. If Marco needs to
find out the typical salary of a hotel employee, which
WGU MBA - DATA DRIVEN DECISION MAKING (BUSINESS
ANALYTICS) QUESTIONS AND VERIFIED ACCURATE
SOLUTIONS