BDM W1

What is the primary focus of Business Decision Making?

• Collecting data

• Creating marketing strategies

• Making choices from alternatives

• Analyzing financial statements

Which of the following is NOT a technique to analyze data?

• Descriptive analysis

• Advanced analysis

• Inferential analysis

• Predictive analysis

What is the purpose of descriptive statistics?

• To summarize data

• To make predictions

• To test hypotheses

• To collect data

Which type of decision is made on a day-to-day basis?

• Major decisions

• Operational decisions

• Strategic decisions

• Routine decisions

What is the minimum percentage for participation in assessments?

• 50%

• 30%

• 20%

• 10%

Which software is mentioned as a tool for data analysis?

• Adobe Photoshop

• AutoCAD

• IBM SPSS

• Microsoft Word

What is the first step in the decision-making process?

• Implement decision

• Generate options

• Identify the problem

• Analyze options

What type of data is collected through surveys?

• Primary data

• Secondary data

• Tertiary data

• Quantitative data

Which of the following is a characteristic of strategic decisions?

• Require business judgment

• Routine in nature

• Short-term implications

• Lower level management

What does the term 'population' refer to in statistics?

• A set of data points

• A statistical method

• A part of the sample

• All interested elements