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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Decision Models & Prescriptive Analytics | 15% | - Decision trees, payoff matrices, expected value - Quality & process improvement tools - Optimization, sensitivity analysis |
| Topic 2: Probability & Statistical Inference | 20% | - Hypothesis testing, p-values, confidence intervals - Correlation vs. causation - Probability rules, distributions, expected value |
| Topic 3: Foundations of Data-Driven Decision Making | 20% | - Role of data in business decisions - Ethics, privacy, and data governance - Types of analytics: descriptive, predictive, prescriptive |
| Topic 4: Predictive Analytics & Regression | 20% | - Forecasting & trend analysis - Interpreting coefficients, R-squared, significance - Simple & multiple linear regression |
| Topic 5: Statistical Concepts & Descriptive Analytics | 25% | - Data types, measurement scales, sampling methods - Data visualization: charts, graphs, dashboards - Measures of central tendency, dispersion, distribution |
How do a run chart and a control chart differ?
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Which graphical display is used to examine the distribution of a data set with quartiles?
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A manager has been asked to evaluate the risk of loss for a new business strategy. The manager plots the results of several simulated projections to determine the likelihood of a result being a loss. Which statistic will transform different data sets to the same scale so that the manager can compare the projections?
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