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WPC 300 final exam questions well answered to pass
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WPC 300 final exam questions well answered to pass
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WPC 300 final exam questions wellanswered to pass
Heuristic - correct answer ✔✔Learns by acting
Uses trial and error
Values experience, effort reduction
Relies on common sense
Seeks satisficing solution
Fast and frugal
May lead to decision biases!
analytics - correct answer ✔✔developing actionable decisions or rec for action based on insights from
histroical data
-combo of computer tech, mgt sci techniques, and states to solve real problems
-sports analytics, tinder
descriptive - correct answer ✔✔preliminary stage, create summary of histroical data to yield useful info
and prep data for further analysis
-what happened
-std report, dashboard, visuals
-defined business probelm and opportunity
explanatory - correct answer ✔✔look into past and why is certain thing happened, working on a
dashboard
-why and how happened
- inferential, visual
-causal relation
predictive - correct answer ✔✔use of data, algorithm, machine learning technique to identify liklihood
of future outcomes based on list of hist data, what will happen
, -what and why happened next
-data mine, text mine, FC
-accurate projection of future
prescriptive - correct answer ✔✔what to do by providing info on optimal decisions based on predictions,
real time
-what should by done and why
-opt, sim, expert systems
-best possible business decision
Exploratory visual - correct answer ✔✔you have hist data and explore data to find out about it (tablaeu)
confirmatory visual - correct answer ✔✔expect correlation and look at visual to confirm
production visual - correct answer ✔✔know to look for because understand problem, usually used to
find problems
-dashboard
spatial data visual - correct answer ✔✔color coded map
dynamic visual - correct answer ✔✔graph video shows data changes through the years
Tufte's principles of data visualization - correct answer ✔✔-The chart should tell a story
-The chart should have graphical integrity
-The chart should minimize graphical complexity
Lie Factor - correct answer ✔✔size of effect shown in graphic / size of effect in data
should roughly equal 1
Lie Factor << 1: Understated effect
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