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Last Updated: Aug 08, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Foundations of Data-Driven Decision Making | 20% | - Types of analytics: descriptive, predictive, prescriptive - Ethics, privacy, and data governance - Role of data in business decisions |
| Predictive Analytics & Regression | 20% | - Forecasting & trend analysis - Simple & multiple linear regression - Interpreting coefficients, R-squared, significance |
| Decision Models & Prescriptive Analytics | 15% | - Quality & process improvement tools - Optimization, sensitivity analysis - Decision trees, payoff matrices, expected value |
| Statistical Concepts & Descriptive Analytics | 25% | - Data visualization: charts, graphs, dashboards - Measures of central tendency, dispersion, distribution - Data types, measurement scales, sampling methods |
| Probability & Statistical Inference | 20% | - Hypothesis testing, p-values, confidence intervals - Probability rules, distributions, expected value - Correlation vs. causation |
1. A company's marketing team tells an analyst that fewer customers are opening emails in the recent email campaign. The analyst interviews a few marketing coordinators and discovers changes were made to the email subject line between the earlier successful email campaign and the recent one. The analyst then uses a statistical technique to compare the email open rates for each campaign. Which step does the comparison of the email open rate represent in the plan-do-check-act cycle?
A) Do
B) Act
C) Plan
D) Check
2. What are random errors caused by?
A) Biased data
B) Respondents favoring certain outcomes
C) An instrument that needs calibration
D) Unpredictable fluctuations in readings
3. An organization develops a new strategic plan and seeks ways to improve process performance by reducing variation to only 3.4 defects per million process outputs.
Which tool can the organization use to meet this goal?
A) Six Sigma
B) Linear programming
C) Just-in-time
D) Statistical process control
4. A bakery owner would like to know how many cakes to sell for monthly profit to equal zero. Which analysis method should the owner perform?
A) T-test
B) ANOVA
C) Break-even
D) Crossover
5. Why are sample sizes important for ensuring statistical significance?
A) So that the possibility of researcher bias is eliminated
B) So that no additional analysis is required
C) So that a hypothesis cannot be misinterpreted
D) So that accurate conclusions can be confidently applied to larger populations
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: D |
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