This test has a time limit of 30 minutes.This test consists…
This test has a time limit of 30 minutes.This test consists of 25 multiple choice questions.Each question is worth 4 points. This test will save and submit automatically when the time expires and/or when the due date/time have been reached.The timer will continue to run if you leave the test, so you should plan to take this test in one sitting.This test is due on January 26, 2026 11:59:00 PM EDT.The use of a secondary device (laptops, smartphones, smartwatches, tablets, etc.) is not allowed and considered a form of academic dishonesty and the consequences of doing so may result in a zero for a first offense and WF for repeated offenses. Honorlock flags students who are caught using a secondary device. Also prohibited are the following: notes, texts, online materials or other such unauthorized materials; For example, connecting with classmates by phone, email, Snapchat, GroupMe etc. while taking quizzes and tests.
Read DetailsYou are hired as a consultant to a bank that specializes in…
You are hired as a consultant to a bank that specializes in giving credit to small businesses. Your task is to design a decision process so that you can maximize the chances of giving loans to businesses that would repay in due time and minimize the chances of giving loans to businesses that would default. The bank has years of data from previous loans and has constructed a statistical model predicting the probability of default. How would you explain to the CEO that it might be difficult to accomplish the two objectives simultaneously? What would be your advice in terms of the specific objectives? Based on your response to (A), how would you structure the decision process given the output of the statistical model?
Read DetailsImagine that you work in a large retail company with many st…
Imagine that you work in a large retail company with many stores concentrated in large metropolitan areas. The average sales across all stores have been typically stable from year to year, but every year there has been large and fairly unpredictable variation among the sales of different stores. A new CFO is trying to maximize sales, and she studies the sales in the last 2 years. She notes a puzzling pattern: some stores that did very poorly 2 years ago did much better last year, and some stores that did extremely well 2 years ago did not do as well last year. The CFO excitedly shares her findings with you and asks you to find out what changes were implemented in these two types of stores. She is ready to give you a team of 4 employees, a decent budget, and 1 year time to visit and investigate the practices of the stores. Are there alternative explanations of the changes in performance (as opposed to successful or unsuccessful local practices)? Assuming the CFO trusts your opinion and there are no repercussions for disagreeing with her, what would you advise her?
Read DetailsImagine that you work in a large organization and that the o…
Imagine that you work in a large organization and that the organization makes the same personnel selection decisions every year. Candidates are screened by trained HR managers, and those who make the cut are interviewed by a single HR manager. You have noticed that the managers are often surprised by the decisions of their colleagues, but your boss is unconcerned about potential disagreement, because all of the HR managers are highly experienced. How would you convince your boss that the potential disagreement could be costly to the organization? Assume that you can collect data to build your argument. How would you design the hiring process to make it more efficient and more accurate, meaning maximizing your chances to hire the best candidates?
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