Data driven decision making 3

An organization develops a new strategic plan and seeks ways to measure its performance over a specific period of time.

Which system enables the organization to measure performance based upon established global standards?

• Six Sigma

• Balanced scorecard

• ISO

• Value chain

What is a description of data mining?

• It identifies causal relationships in large data sets.

• It discovers patterns or trends in large data sets.

• It is typically performed in extraction industries.

• It evaluates the validity of data extraction.

Which common analytic measure is used to improve business performance?

• Base period index

• Simple composite index

• SIPOC index

• Consumer price index

A national manufacturer is building an overseas factory to be closer to one of its largest markets.

Which analysis technique would be appropriate when evaluating location options under risk in order to strengthen the firm's competitiveness in the new market?

• Develop a network diagram

• Develop a decision tree

• Develop a draw flow diagram

• Develop a run chart

What is the most important analytic to determine the success or failure of a particular year's flu vaccine?

• Incidence accounting for all new cases

• Cost/benefit comparing the advantages and disadvantages

• Consumer satisfaction survey of all existing cases

• Number of persons who failed to get the flu vaccine

Tags

CCSS.HSS.MD.B.5B

The management for Hospital A conducted a survey of its patients' opinions including gathering demographic data to determine which programs should be pursued during the upcoming fiscal year. Upon analyzing the response on the need for a cosmetic surgery program for the hospital, it was found that there was a r score score of 0.75, and a p of 0.03 between a patient's income level and support for the creation of a cosmetic surgery department.

What is an effective strategic decision based on an analysis of the given information?

• There is a weak positive relationship for a cosmetic surgery program as a function of income, and this program should not be developed in high income areas.

• There is a strong positive relationship for a cosmetic surgery program as a function of income, and this program should not be developed in high income areas.

• There is a weak positive relationship for a cosmetic surgery program as a function of income, and this program should be developed in high income areas.

• There is a strong positive relationship for a cosmetic surgery program as a function of income, and this program should be developed in high income areas.

Tags

CCSS.HSS.ID.B.6A

What does True Score Theory state about a test without systematic error?

• The observed score is the true score.

• The observed score is the true score plus random error.

• The observed score contains no error.

• The observed score contains no random error.

The average test score of students taking an exam was 70% with a standard deviation of 8.5%. Which tool should be used to compare a student's score to the group average?

• Regression

• Correlation

• Z-score

• Linear Programming

Tags

CCSS.HSS.ID.A.4

What is true of cost-effective analysis?

• It analyzes the cost of achieving a quantifiable goal.

• It balances a government budget.

• It is often used in the private sector, but not the public sector, but not the public sector.

• It analyzes the cost of intangible assets.

A county government wishes to convert government vehicles from gasoline to natural gas.

How can the county evaluate the effectiveness of the conversion?

• By estimating the payback period

• By analyzing the budgetary impacts of county contracts

• By aligning fund allocations with number of departmental employees

• By conducting best practices research regarding audit performance.