Free Practice Quiz Question List

8 Analytics-Informed Business Decision Making Online Quiz Questions

Use this free practice quiz with 20 questions to review 8 Analytics-Informed Business Decision Making, test your knowledge, and prepare for your next test or exam.

20 questions

True or false

1 point

True or false: If a regression shows that delivery delays are associated with fewer repeat purchases, that relationship alone demonstrates that reducing delays will cause repeat purchases to increase.

A
True
B
False

Choose one

1 point

A manager wants to see whether customer wait time is related to satisfaction scores across locations. Which visual is best suited to showing the relationship between these two measures?

A
A line chart
B
A bar chart
C
A scatterplot
D
A dashboard with no chart

Fill in the blank

1 point

When decision-makers need to understand uncertainty about an estimated population quantity, they can use a .

Written response

1 point

What is the name of the analysis that varies important assumptions, such as demand or implementation cost, to test whether a preferred business option remains preferred?

Choose one

1 point

A team has completed an analysis, but its briefing does not say what leaders need to decide or when. Which addition would most directly make the briefing decision-focused?

A
A detailed account of every analysis performed, without stating what decision is needed
B
The decision needed and its deadline
C
A chart selected for visual appeal, without labels or units
D
A recommendation with no information about evidence or limitations

Choose all

1 point

A business team is reviewing evidence before deciding whether to change a customer policy. Select all the checks that can help determine whether the evidence supports that decision.

A
Check whether the evidence is relevant to the decision and sufficiently current.
B
Look for missing observations and biased samples.
C
Assume that a large dataset makes the evidence suitable for any decision.
D
Check whether the data were collected in a way that supports the intended conclusion.

Fill in the blank

1 point

To compare customer complaints across product categories, a decision-maker could use a .

True or false

1 point

True or false: Two business options with similar expected returns may still call for different choices if one carries a greater chance of a severe loss.

A
True
B
False

Written response

1 point

When evaluating a retailer's discount campaign, what financial measure should it estimate for each option instead of relying on revenue alone?

Choose all

1 point

A business team is deciding whether to fund further research before choosing between two options. Select all statements that describe sound ways to use sensitivity analysis or decide whether additional research is worthwhile.

A
If a small change in an assumption reverses the preferred option, consider a cautious pilot, more information, or a contingency plan.
B
Conduct more research whenever it is possible, even if no plausible result would change the action.
C
Additional research is useful when it could realistically change the decision enough to justify its cost and delay.
D
If all plausible results point to the same action, more research is always necessary before acting.

Choose one

1 point

A retailer expects a discount campaign to increase orders but is unsure how much profit it will produce. Which approach best compares the available actions?

A
Launch broadly because a possible increase in orders establishes that profits will rise.
B
Do not launch because any uncertainty makes a campaign unsuitable.
C
Compare a broad launch, a limited test, and no launch using expected contribution margin, relevant costs, and low- and high-demand scenarios.
D
Choose the option with the most projected revenue, ignoring operational costs and profit per order.

Open ended

1 point

A company has approved a new service process. Describe how it should evaluate the decision after implementation so that the results can inform future choices.

Choose one

1 point

A team is preparing a chart comparing performance between two groups. Which design choice best helps viewers understand the comparison without overstating it?

A
Remove axis labels so readers focus on the apparent difference.
B
Label axes and units, identify the comparison group, and avoid design choices that exaggerate differences.
C
Adjust the scale to make small differences look large.
D
Use decorative effects even if they make the comparison harder to interpret.

Choose one

1 point

A manager wants to show how weekly sales changed over the last year. Which visual is best suited to this comparison?

A
A bar chart
B
A line chart
C
A scatterplot
D
A decision table

Choose one

1 point

A team is replacing the broad question “How can we improve sales?” with a question that can guide an immediate business decision. Which option is the clearest operational decision question?

A
How can the company become more successful?
B
Why are customers interested in the company?
C
Should the sales director test a revised offer with a customer segment next month?
D
What information is available about the company?

Choose one

1 point

A retailer finds that stores with longer delivery delays also have lower repeat-purchase rates. What is the most defensible conclusion from this relationship alone?

A
Treat the relationship as an association unless other evidence supports a causal conclusion.
B
Conclude that delivery delays caused the decline because the measures moved together.
C
Use the trend alone to predict the effect of eliminating all delays.
D
Ignore the observed relationship because observational data cannot inform decisions.

Choose one

1 point

An analyst reports uncertainty around an estimated average customer spend and separately wants to describe plausible spend for one future customer. Which interpretation of the two intervals is correct?

A
A confidence interval describes the range of outcomes for one future customer; a prediction interval estimates a population average.
B
A confidence interval expresses uncertainty about an estimated population quantity; a prediction interval describes plausible outcomes for a future observation.
C
Both intervals guarantee that the true value or future outcome will fall inside them.
D
A prediction interval measures how much the estimate changes when input assumptions change.

Written response

1 point

What form of analysis explores possible explanations for an observed result?

True or false

1 point

True or false: A forecast of 1,000 units sold guarantees that actual sales will be 1,000 units.

A
True
B
False

Written response

1 point

When comparing a discount campaign's expected profitability across launch options, what financial measure should the retailer estimate instead of considering revenue alone?