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WPC 300 final Questions and answers 2024/2025
WPC 300 final Questions and answers 
2024/2025 
QUIZ ONE - CORRECT ANSWERGamblers' fallacy is ______________ 
Framing effect bias 
A Zero risk bias 
A clustering illusion 
An endowment effect bias - CORRECT ANSWER-A clustering illusion 
When you keep eating the food you don't like precisely because you already bought the 
food, you are committing _______________ 
Endowment effect bias 
Sunk-cost fallacy 
Zero risk bias 
Availability heuristics bias - CORRECT ANSWER-Sunk-cost fallacy 
______...
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- Exam (elaborations)
- • 12 pages •
WPC 300 final Questions and answers 
2024/2025 
QUIZ ONE - CORRECT ANSWERGamblers' fallacy is ______________ 
Framing effect bias 
A Zero risk bias 
A clustering illusion 
An endowment effect bias - CORRECT ANSWER-A clustering illusion 
When you keep eating the food you don't like precisely because you already bought the 
food, you are committing _______________ 
Endowment effect bias 
Sunk-cost fallacy 
Zero risk bias 
Availability heuristics bias - CORRECT ANSWER-Sunk-cost fallacy 
______...
WPC 300 - Final Exam Review 2024/2025 latest
WPC 300 - Final Exam Review 2024/2025 
latest 
Heuristics - CORRECT ANSWER-Experience, intuition, rules of thumb, think fast. 
Analytics - CORRECT ANSWER-• Observe what has worked 
• Experimentation 
• Collect data and analyze data 
• Find patterns 
• Boundary and Generalizability 
• Think slow 
20% - CORRECT ANSWER-___ of our energy intake goes to the brain. Since slow 
thinking is expensive, the body is programmed to avoid it. 
statistical algorithm - CORRECT ANSWER-Our brains do ...
- Package deal
- Exam (elaborations)
- • 4 pages •
WPC 300 - Final Exam Review 2024/2025 
latest 
Heuristics - CORRECT ANSWER-Experience, intuition, rules of thumb, think fast. 
Analytics - CORRECT ANSWER-• Observe what has worked 
• Experimentation 
• Collect data and analyze data 
• Find patterns 
• Boundary and Generalizability 
• Think slow 
20% - CORRECT ANSWER-___ of our energy intake goes to the brain. Since slow 
thinking is expensive, the body is programmed to avoid it. 
statistical algorithm - CORRECT ANSWER-Our brains do ...
wpc 300 final Study Guide Exam latest 2024/2025
wpc 300 final Study Guide Exam latest 
2024/2025 
Principles of Problem Framing - CORRECT ANSWER-Tell, find and routinize 
Tell an interesting and complete story - CORRECT ANSWER-The problem you address 
should be meaningful Solution could be reused for related problems Assumptions, 
boundaries 
Find an appropriate solution framework - CORRECT ANSWER-Break down the 
problem into pieces Iterative process (agile vs waterfall) Identify appropriate 
analytical/modeling techniques 
Routinize the...
- Package deal
- Exam (elaborations)
- • 21 pages •
wpc 300 final Study Guide Exam latest 
2024/2025 
Principles of Problem Framing - CORRECT ANSWER-Tell, find and routinize 
Tell an interesting and complete story - CORRECT ANSWER-The problem you address 
should be meaningful Solution could be reused for related problems Assumptions, 
boundaries 
Find an appropriate solution framework - CORRECT ANSWER-Break down the 
problem into pieces Iterative process (agile vs waterfall) Identify appropriate 
analytical/modeling techniques 
Routinize the...
WPC 300 Final Exam (practice questions and answers) A-Graded 2024/2025
WPC 300 Final Exam (practice questions 
and answers) A-Graded 2024/2025 
analytics - CORRECT ANSWER-the process of developing actionable decisions or 
recommendations for actions based upon insights generated from historical data 
primary data - CORRECT ANSWER-data collected specifically for the research problem 
at hand (ex: survey, interviews) 
secondary data - CORRECT ANSWER-data collected for some purpose other than the 
problem at hand (ex: firm's proprietary data, internet data, stock...
- Package deal
- Exam (elaborations)
- • 12 pages •
WPC 300 Final Exam (practice questions 
and answers) A-Graded 2024/2025 
analytics - CORRECT ANSWER-the process of developing actionable decisions or 
recommendations for actions based upon insights generated from historical data 
primary data - CORRECT ANSWER-data collected specifically for the research problem 
at hand (ex: survey, interviews) 
secondary data - CORRECT ANSWER-data collected for some purpose other than the 
problem at hand (ex: firm's proprietary data, internet data, stock...
WPC 300 Final Written Exam 2024/2025 (questions and answers)
WPC 300 Final Written Exam 2024/2025 
(questions and answers) 
In an agile approach of analytics, what is the first step of the process? 
Perform data discovery 
Perform business discovery 
Score and deploy 
Model data - CORRECT ANSWER-Perform business discovery 
In an ETL process, data is loaded into a final target database such as: 
Operational dashboard 
Public database 
Social media database 
Data warehouse - CORRECT ANSWER-Data warehouse 
What are the four types of data analytical metho...
- Package deal
- Exam (elaborations)
- • 20 pages •
WPC 300 Final Written Exam 2024/2025 
(questions and answers) 
In an agile approach of analytics, what is the first step of the process? 
Perform data discovery 
Perform business discovery 
Score and deploy 
Model data - CORRECT ANSWER-Perform business discovery 
In an ETL process, data is loaded into a final target database such as: 
Operational dashboard 
Public database 
Social media database 
Data warehouse - CORRECT ANSWER-Data warehouse 
What are the four types of data analytical metho...
Review Final Exam for WPC 300 2024/2025 questions with A-graded answers
Review Final Exam for WPC 300 
2024/2025 questions with A-graded 
answers 
Which of the following describes the standard deviation? - CORRECT ANSWER-It is 
the square root of the variance. 
When two variables are highly positively correlated, the correlation coefficient will be 
_______. - CORRECT ANSWER-close to 1 
According to statistical notation, what does ∑ stand for? - CORRECT ANSWER-to act 
as a summation operator 
The ________ is the observation that occurs most frequently. - CORR...
- Package deal
- Exam (elaborations)
- • 8 pages •
Review Final Exam for WPC 300 
2024/2025 questions with A-graded 
answers 
Which of the following describes the standard deviation? - CORRECT ANSWER-It is 
the square root of the variance. 
When two variables are highly positively correlated, the correlation coefficient will be 
_______. - CORRECT ANSWER-close to 1 
According to statistical notation, what does ∑ stand for? - CORRECT ANSWER-to act 
as a summation operator 
The ________ is the observation that occurs most frequently. - CORR...
WPC 300 Final Exam review 2024/2025 Actual questions and correct answers
WPC 300 Final Exam review 2024/2025 
Actual questions and correct answers 
Data Variable Categories - CORRECT ANSWER-Qualitative and Quantitative 
Qualitative - CORRECT ANSWER-Is descriptive and conceptual and cannot be 
measured 
Quantitative - CORRECT ANSWER-Can be counted, measured, and expressed using 
numbers 
Quantitative Data Variables - CORRECT ANSWER-Numerical-interval, ratio 
Categorical-Nominal, ordinal 
(Quantitative Categorical) Nominal - CORRECT ANSWER-The numerical values just ...
- Package deal
- Exam (elaborations)
- • 8 pages •
WPC 300 Final Exam review 2024/2025 
Actual questions and correct answers 
Data Variable Categories - CORRECT ANSWER-Qualitative and Quantitative 
Qualitative - CORRECT ANSWER-Is descriptive and conceptual and cannot be 
measured 
Quantitative - CORRECT ANSWER-Can be counted, measured, and expressed using 
numbers 
Quantitative Data Variables - CORRECT ANSWER-Numerical-interval, ratio 
Categorical-Nominal, ordinal 
(Quantitative Categorical) Nominal - CORRECT ANSWER-The numerical values just ...
Study for 2024-2025 WPC 300 final exam Q&A
Study for WPC 300 final exam 
Q&A 
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-...
- Package deal
- Exam (elaborations)
- • 10 pages •
Study for WPC 300 final exam 
Q&A 
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-...
WPC 300 Final Exam Practice questions and answers 2024/2025 latest
WPC 300 Final Exam Practice questions 
and answers 2024/2025 latest 
In an agile approach of analytics what is the first step of the process? - CORRECT 
ANSWER-Perform business discovery 
In an ETL process, data is loaded into a final target database such as: - CORRECT 
ANSWER-Data warehouse 
What are the four types of data analytical method? - CORRECT ANSWER-Descriptive, 
explanatory, predictive and prescriptive 
Which of the following is an example of secondary data? - CORRECT ANSWER-Firm...
- Package deal
- Exam (elaborations)
- • 9 pages •
WPC 300 Final Exam Practice questions 
and answers 2024/2025 latest 
In an agile approach of analytics what is the first step of the process? - CORRECT 
ANSWER-Perform business discovery 
In an ETL process, data is loaded into a final target database such as: - CORRECT 
ANSWER-Data warehouse 
What are the four types of data analytical method? - CORRECT ANSWER-Descriptive, 
explanatory, predictive and prescriptive 
Which of the following is an example of secondary data? - CORRECT ANSWER-Firm...
WPC 300 Final Exam 2024/2025 latest questions and answers
WPC 300 Final Exam 2024/2025 latest 
questions and answers 
perform business discovery - CORRECT ANSWER-In an agile approach of analytics 
what is the first step of the process? 
data warehouse - CORRECT ANSWER-In an ETL process, data is loaded into a final 
target database such as: 
prescriptive analytics - CORRECT ANSWER-Which of the following data analysis 
models use optimization techniques? 
Prescriptive Analytics - CORRECT ANSWER-Predictive analytics may be applied to 
__________, whi...
- Package deal
- Exam (elaborations)
- • 9 pages •
WPC 300 Final Exam 2024/2025 latest 
questions and answers 
perform business discovery - CORRECT ANSWER-In an agile approach of analytics 
what is the first step of the process? 
data warehouse - CORRECT ANSWER-In an ETL process, data is loaded into a final 
target database such as: 
prescriptive analytics - CORRECT ANSWER-Which of the following data analysis 
models use optimization techniques? 
Prescriptive Analytics - CORRECT ANSWER-Predictive analytics may be applied to 
__________, whi...
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