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WGU VPC2Data-Driven Decision MakingC207 Sample Questions:

1. Which use of statistics would apply to employees?

A) Influencing future vendor prices
B) Predicting future levels of financial risk
C) Determining financial interest rates
D) Comparing with competitors on wholesale pricing

2. An analyst used multiple linear regression to show how a big box store's sales (y) are predicted by the big box store's advertising expenditure in dollars (variable x1) and the advertising expenditure in dollars of a specialty store (variable x2) in the same market. The estimated regression is y = 651.57 + 92.30x1 # 26.89x2. How are advertising expenditures and sales related in this scenario?

A) If the big box store increases its advertising expenditures, its sales will decrease.
B) If the big box store decreases its advertising expenditures, it will decrease the big box store's sales.
C) If the specialty store increases its advertising expenditures, it will decrease the big box store's sales.
D) If the big box store decreases its advertising expenditures, its sales will increase.

3. How should a marketing consulting firm perform a cluster analysis for a new granola bar?

A) Determine whether there are any granola bar sales trends
B) Determine competitor benchmarks and forecasts for comparison
C) Determine the different segments or groups to target
D) Determine the reasons for consumer granola bar purchases

4. A nonprofit organization ran a fundraiser and would like to determine the amount of a typical donation.
Which statistic is less affected by outliers and skewed data and should be used to determine the amount of a typical donation?

A) Mean
B) Median
C) Z-score
D) Mode

5. What happens when an organization focuses on customers?

A) It reduces bias and fosters trust in decisions and plans.
B) It leads to an increase in revenue and market share.
C) It decreases costs for the organization and its suppliers.
D) It ensures consistency and efficiency among organization-wide activities.

Solutions: