Last Updated: Aug 09, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Statistical Concepts & Descriptive Analytics | 25% | - Data types, measurement scales, sampling methods - Measures of central tendency, dispersion, distribution - Data visualization: charts, graphs, dashboards |
| Decision Models & Prescriptive Analytics | 15% | - Decision trees, payoff matrices, expected value - Optimization, sensitivity analysis - Quality & process improvement tools |
| Foundations of Data-Driven Decision Making | 20% | - Ethics, privacy, and data governance - Types of analytics: descriptive, predictive, prescriptive - Role of data in business decisions |
| Probability & Statistical Inference | 20% | - Probability rules, distributions, expected value - Correlation vs. causation - Hypothesis testing, p-values, confidence intervals |
| Predictive Analytics & Regression | 20% | - Simple & multiple linear regression - Interpreting coefficients, R-squared, significance - Forecasting & trend analysis |
1. When researchers are studying the effect of new drug treatments on patients, bias can be introduced by patients if they are aware of who receives the placebo.
Which type of research design eliminates this type of bias?
A) Prospective cohort study
B) Time series study
C) Observational study
D) Blind study
2. Why would a human resources department use both mean and median when doing a salary evaluation of a department?
A) A large difference between mean and median shows there are outliers to assess.
B) A large difference between mean and median shows that some employees need raises.
C) A large difference between mean and median shows a miscalculation in the analysis.
D) A large difference between mean and median shows an abnormal standard deviation.
3. What is the formula for calculating a simple index number?
A) The base year's price divided by the current price
B) The base year's price divided by the current price times 100
C) The current price divided by the base year's price times 100
D) The current price divided by the base year's price
4. An entrepreneur wants to start a boutique cupcake business based on family recipes shared for three generations. The entrepreneur knows the required costs associated with rent, supplies, utilities, and hourly wages and wants to determine how many cupcakes they need to sell to generate a profit.
Which technique should be used to analyze this data?
A) Break-even analysis
B) T-test
C) Crossover analysis
D) Regression
5. Which type of analysis determines whether there was a significant difference in the average donor solicitation amount between three nonprofit hospital events?
A) Cluster
B) ANOVA
C) Logistic regression
D) Time series
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B |
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