SMGT 461 Final Review

What is analytics according to the provided material?

• The study of historical data patterns.

• The extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to derive decisions and actions.

• The process of collecting and organizing data.

• The use of information technology to improve business processes.

What are the forms in which data can be found?

• Only numbers and words

• Only pictures and videos

• Only measurements and observations

• Numbers, words, pictures, video, measurements, and observations

What does the aspect of "Completeness" in data quality refer to?

• The precision and reflection of real-life situations in data

• The availability of all necessary and relevant data

• The periodic updating of data

• The periodic updating of data

What type of data is described by numeric information?

• Quantitative data

• Discrete data

• Qualitative data

• Continuous data

Which type of data has infinite possibilities with no gaps?

• Continuous data

• Qualitative data

• Discrete data

• Quantitative data

What is the ideal minimum sample size for collecting quantitative data?

• 10

• 1

• 100

• 50

Exploratory research is typically initiated when there is:

• A lot of prior knowledge of a phenomenon.

• No need for further research.

• Little or no prior knowledge of a phenomenon.

• A well-established theoretical model available.

What is the focus of descriptive research?

• Explaining why a phenomenon occurs

• Analyzing the causes of events

• Predicting future trends

• Describing what is happening without explaining why

What is the aim of pure research?

• To solve a specific problem.

• To gain a better understanding of a general concept.

• To improve a specific process.

• To develop a new product.

How many questions should your survey or questionnaire be?

• 5

• 10

• 15

• 20