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IIBA CBDA Practice Test - Questions Answers, Page 12

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Question 111

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A fashion retailer is developing a new line of luxury handbags and would like to evaluate their target market and pricing. After an extensive evaluation based on product features, their target market, and pricing of competitor products, the analytics team has come up with a pricing proposal. On presenting the results, the management team is of the opinion that additional analysis was required before making a decision. What type of additional analysis will help the management team make a decision on pricing?

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Question 112

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The analytics team has completed their analytics work and have agreed on a set of five key recommendations. They are now discussing how best to communicate these recommendations to the finance, customer service, and marketing teams. Recognizing that this is a diverse set of stakeholders, the business analysis professional reminds the team:

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Question 113

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An operations manager for a new hotel is in need of determining the optimum number of vans to purchase to shuttle guests to/from the airport. It will be necessary to determine the most efficient routes and schedule to follow to ensure guests do not experience excessive delays. Which business analytics technique would lend itself to supporting these types of business decisions?

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Question 114

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An analyst supporting the Marketing department for a specialty retailer has been asked to look through past sales data to help guide product decisions. The business sponsor for this initiative would first like to know 'What is the most profitable product line?'. What type of analytics is the analyst going to perform to address this question?

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Question 115

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A data dictionary is being developed for a dataset describing a company's customer base. Within the data dictionary, which of the following represents a composite data element?

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Question 116

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An organization has a customer database of 3000 customers and has accumulated 5 years of sales data. They want to make decisions about which products to retire and which to continue to offer. Management has turned to the analytics team to analyze the data and provide recommendations. The analytics team develops a survey to send to randomly selected customers. This is an example of:

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Question 117

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A 3rd party is marketing an application for financial institutions to use for credit scoring. This application is an example of what type of analytics?

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Question 118

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There were 7 students enrolled in the Introduction to Artificial Intelligence course. These were the student's scores from the final exam: 64, 70, 80, 80, 90, 98, 100

What is the mean and mode for the outlined scores?

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Question 119

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An analyst at a phone manufacturing company is preparing a dashboard for Senior Executives that will cover past year's performance. It will be used in the upcoming senior leadership team meeting to make strategic decisions for the new year. While analyzing the data, the analyst found a lot of interesting revelations related to performance. What should the analyst keep in mind when preparing the Executive dashboard?

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Question 120

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A research marketer is interested in collecting information about the spending habits of families in North America. Concerned about the volume of data required to conduct the research, they choose to use sampling. The dataset is sourced using all credit card transactions from a leading North American credit card company for Quarter 1 of the prior year. The sample used is:

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A data scientist at a consumer goods company, has been asked to do a detailed analysis on customer profiles. The Data Scientist has identified an external data source that carries valuable additional information on their customers. The data scientist also identifies the address column as the most reliable column to join the internal data source with the external data source. Addresses may appear in different formats for example: File A = '13 Smith St' File B = 'Unit 7, 13 Smith Street' Which of the following techniques would be useful in this situation?
Insights based on the data collected indicate that a multi-national company could increase its sales of a mature product by reducing its price by 20% which would result in increased revenues of 2% over a 6-month period. The team recommends this as an appropriate goal for its organization. This is considered a good goal because:
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A small business has recently launched their website and wants to understand how the website is being used. In particular, there is interest in identifying which areas of each page receive the most attention. The analyst has decided to communicate this information by displaying the top pages overlaid with colours denoting the volume of clicks. What type of visualization technique is being used here?