60. A major hospital system has been experiencing financial setbacks because it does not know how many beds are available at any given time.

How should management use a key performance indicator (KPI) dashboard to resolve this problem?

Choose 2 answers.

O By identifying and correcting past failures in the reporting of bed availability

O By detecting unusual results in the reporting of bed utilization

O By creating a dynamic system that tracks real-time measurements of bed utilization data

O By gathering historical bed utilization data that can be displayed graphically in a histogram

61. Which exam type compares one student's performance on a test to other students' performance?

O An ad hoc test

O A criterion-referenced test

O A norm-referenced test

O An essay test

62. Two vendors sell a dozen raw materials that a company needs to build its products.

Which type of analysis should be used to determine if one of the vendors has a statistically better average price at a given point in time?

O Data analysis

O Background analysis

O Heuristic analysis

O Graphical analysis

63. How is a cost-benefit analysis different in the public and private sectors?

O The public sector focuses almost exclusively on cost, while the private sector focuses primarily on benefits.

O The public sector focuses almost exclusively on benefits, while the private sector focuses primarily on cost.

O The public sector is governed by tax policy, whereas the private sector is incentivized by product pricing.

O The public sector usually focuses on the general welfare of the population, whereas the private sector usually focuses on profits.

64. A county government is creating a budget for the next fiscal year. They wish to use analytics to guide their decisions about costs.

Which analytic method can the county apply to this issue?

O Average cost per project spent by other similar counties

O Median number of projects completed last year

O Median cost for all county projects

O Average number of projects completed

65. A county government wants to start a cost-effective recycling program.

How can the county apply data analytic approaches to attain this goal?

O By aligning fund allocations with the number of department employees

O By analyzing budgetary impacts of county contracts

O By conducting best practices research regarding audit performance

O By benchmarking similar strategies of other counties

66. A hospital wants to increase revenue by performing more surgeries each day. This can be accomplished by reducing the turnaround time between surgeries in operating rooms.

What is this objective an example of?

O A balanced scorecard

O A departmental income statement

O A key performance indicator

O A managerial directive

67. Which input could be used to create and evaluate a process that would improve an organization's performance?

O Data gathered from a customer survey OInformation from an employee handbook

O Rules and regulations imposed on the banking industry

O Suggestions from a close competitor

68. What is a disadvantage of a key performance indicator (KPI)?

O It makes it difficult to use data-driven results to quantify performance.

O It focuses on long-term goals rather than short-term gains.

O It only indicates what changes are statistically significant.

O It only accounts for quantitative measures.

69. How do balanced scorecards and key performance indicator (KPI) dashboards differ?

O Balanced scorecards are better for graphical or visual representations than KPI dashboards.

O KPI dashboards link company operations with company strategy.

O KPI dashboards do not illustrate both financial and nonfinancial data.

O Balanced scorecards encourage desired behavior changes.

70. What is an advantage of a balanced scorecard?

O It requires minimal data.

O It increases the amount of available data to analyze.

O It requires little effort to establish a meaningful dashboard.

O It emphasizes strategy and organizational results. *

71. What is the purpose of linking strategy to performance assessment in an organization?

O To translate the organization's mission for only team players

O To provide a target of where an organization needs or desires to be

O To decrease the organization's action plans

O To increase the organization's data collection

72. A major hospital system wants to improve its level of patient satisfaction. Management has recently asked patients to complete a survey as part of the discharge process. From this survey, a net promoter score is derived and tracked over time.

What does a net promoter score reveal?

Exam alds

O The effectiveness of a new advertising campaign

O How management feels about subordinate employees

O The strength of an organization's customer relations

O How existing employees make advancements within an organization

73. A professional services firm is undergoing a business process improvement exercise to improve productivity, staff morale, and client satisfaction. Management compensation will be tied specifically to improvement in productivity during the fiscal year.

Which tool should be used to quantify a measurable standard to help the company track the productivity goal for the fiscal year?

O Key performance indicator

O Results-based management

O Net promoter score

O Balanced scorecard