Question 1

What is the formula for calculating a simple index number?

Options :

A : The current price divided by the base year’s price times 100

B : The base year’s price divided by the current price times 100

C : The base year’s price divided by the current price

D : The current price divided by the base year’s price

Answer: A

Question 2

What is a statistical process control procedure for a drill manufacturer?

Options :

A : Determining the different market segments for its drills

B : Determining whether the weight of selected drills is within a tolerable range

C : Forecasting future consumer demand for its drills

D : Implementing collaborative planning forecasting and replenishment

Answer: B

Question 3

A researcher seeks to pass a bond issue and asks a sample of respondents who have a bachelor’s degree if they are voting in favor of the bond because it would be beneficial to the county. Which type of error does this represent?

Options :

A : Faulty operationalization

B : Response bias

C : Confusion of association and causality

D : Selection bias

Answer: D

Question 4

A professional services firm is undergoing a business process improvement exercise to improve productivity,staff morale, and client satisfaction while also thinking about the overall long-term financial performance ofthe company.Which performance tool would best meet this firm's objectives?

Options :

A : Net promoter score

B : Results-based management

C : Balanced scorecard

D : KPI dashboard

Answer: C

Question 5

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

Options :

A : Determine the reasons for consumer granola bar purchases

B : Determine the different segments or groups to target

C : Determine competitor benchmarks and forecasts for comparison

D : Determine whether there are any granola bar sales trends

Answer: B