The IIT Madras BS Business Data Management (BDM) End Term paper sat on 3 Sept 2023, in the May 2023 term, set QPD1-S2: 17 questions for 40 marks in 180 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.
In project management, the Pareto Principle can be used to:
Allocate equal time and resources to all project tasks.
Focus on the tasks with the most impact on project success.
Address only the tasks with immediate deadlines.
Apply to projects but not to daily operations.
Correct answer
Focus on the tasks with the most impact on project success.
You oversee the inventory management of gear assemblies in a manufacturing facility. The particulars of the inventory are as follows:
Starting Inventory: 150 units
Daily Usage: 8 units
Lead Time: 7 days
Safety Stock: 25 units
Based on the above data, answer the given subquestions.
Based on this information, at what inventory level should you trigger a re-order for gear assemblies?
Initiate a re-order when the inventory level drops to 56 units
Initiate a re-order when the inventory level drops to 81 units
Initiate a re-order when the inventory level drops to 94 units
Initiate a re-order when the inventory level drops to 79 units
Correct answer
Initiate a re-order when the inventory level drops to 81 units
You oversee the inventory management of gear assemblies in a manufacturing facility. The particulars of the inventory are as follows:
Starting Inventory: 150 units
Daily Usage: 8 units
Lead Time: 7 days
Safety Stock: 25 units
Based on the above data, answer the given subquestions.
After how many days should you trigger a re-order
7 Days
14 Days
17 Days
9 Days
Correct answer
9 Days
Which of the following is a key benefit of using data analysis in HR operations?
It eliminates the need for human judgment in decision-making.
It provides a standardized approach to all HR processes.
It enables data-driven decision-making to improve HR strategies and outcomes.
It only focuses on quantitative data and ignores qualitative factors.
Correct answer
It enables data-driven decision-making to improve HR strategies and outcomes.
How do you lock the column reference in the "col_index_num" parameter of the VLOOKUP function to prevent it from changing when copying the formula?
By using absolute cell references (e.g., $A$2).
By using relative cell references (e.g., A2).
By using mixed cell references (e.g., $A2).
By using named ranges.
Correct answer
By using absolute cell references (e.g., $A$2).
What sets "nudges" apart from traditional regulations or enforcement?
Nudges primarily use only financial rewards.
Nudges gently influence behavior without force or coercion.
Nudges are limited to public policy, excluding corporate practices.
Nudges never involve strict mandates or restrictions.
Correct answer
Nudges gently influence behavior without force or coercion.
A company is testing two different display features (A and B) on their website's homepage to determine which one leads to a higher conversion rate. During the experiment, they tracked the number of visitors who clicked on the "Sign Up" button and calculated the conversion rate for each version. The results are as follows:
● Version A: 500 visitors, 25 conversions
● Version B: 550 visitors, 40 conversions
Calculate the conversion rates for both Version A and Version B. Based on the results, which version had a higher conversion rate, and what is the approx percentage difference between the two conversion rates (in %)?
Correct answer: -2 or 2
Consider the following data set and answer the given subquestions.
Which applicant will face the most difficulty in repaying the loan?
Applicant F
Applicant G
Applicant H
Applicant I
Applicant J
Correct answer
Applicant J
Consider the following data set and answer the given subquestions.
If any credit score of 700 and above is considered equally acceptable, then which applicant is the most risky for the lender?
Applicant F
Applicant G
Applicant H
Applicant I
Applicant J
Correct answer
Applicant I
Consider the following data set and answer the given subquestions.
If the primary factor for loan approval is the applicant's income, which applicant is likely to have the easiest time getting their loan approved?
Applicant F
Applicant G
Applicant H
Applicant I
Applicant J
Correct answer
Applicant G
A company is analyzing the effectiveness of different recruitment channels for hiring new employees based on the number of applications received, the number of candidates shortlisted, and the ease of applying scores (on a scale of 1 (min) to 5 (max)) for each recruitment channel. Please follow the instructions below to answer the given subquestion.
Make your selection based on your analysis of the effectiveness scores of the recruitment channels.
Instructions:
- Normalize Ease of Applying Scores
- Calculate Effectiveness Score: Calculate the effectiveness score for each recruitment channel by multiplying the ratio of shortlisted candidates to applications by the normalized ease of applying score.
- Rank the Channels: Rank the recruitment channels based on their calculated effectiveness scores. The higher the effectiveness score, the more effective the channel.
Job Boards
Campus Recruiting
Social Media
Employee Referrals
Correct answer
Employee Referrals
TechCo conducted an extensive A/B test to evaluate the effectiveness of a new Subscription Upgrade feature on user engagement. The control and test groups were carefully balanced to ensure equal representation. The table below presents detailed engagement metrics before and after the introduction of the Subscription Upgrade feature. Based on the given data, which of the following statement is true? [Select all that apply]
| Group | Average number of sessions per user (Before Feature) | Average session duration (minutes) (Before Feature) | Average number of sessions per user (After Feature) | Average session duration (minutes) (After Feature) |
|---|---|---|---|---|
| Control | 6.2 | 12.5 | 5.8 | 13.2 |
| Test | 7.1 | 13.8 | 8.5 | 15.6 |
The new Subscription Upgrade feature led to a significant increase in the average session duration for both control and test groups.
Both the control and test groups experienced a decrease in the average number of sessions per user after the introduction of the Subscription Upgrade feature.
The Subscription Upgrade feature had a more pronounced impact on increasing the average number of sessions per user in the test group compared to the control group.
The average session duration decreased in the control group but increased in the test group after the introduction of the Subscription Upgrade feature.
The increase in the average number of sessions per user was higher in the control group compared to the test group due to the Subscription Upgrade feature.
Correct answers
The new Subscription Upgrade feature led to a significant increase in the average session duration for both control and test groups.
The Subscription Upgrade feature had a more pronounced impact on increasing the average number of sessions per user in the test group compared to the control group.
Calculate the Overall Equipment Effectiveness (OEE) of the Assembly Line Equipment for the month of July.
Parameters:
| Parameter | Value |
|---|---|
| Planned Production Hours (PPH) | 320 hours |
| Lost Time (LOT) | 20 hours |
| Designed Machining Speed (DM) | 220 pieces per hour |
| Actual Machining Speed (AM) | 200 pieces per hour |
| Total Components Machined (TC) | 6000 pieces |
| Defective Components (DC) | 240 pieces |
Round the OEE to two decimal places
Correct answer: 0.82 (accepted within ±0.01)
A reduction in the price of a product from $20 to $16 leads to a 15% increase in demand for the product. Calculate the price elasticity of demand for this product.
Correct answer: 0.75 or -0.75
Using the provided dataset, rank the candidates based on the given factors and choose the correct ranking from the options below. Consider the following dataset:
Lavisha > Aisha > Esha > Sasha
Esha > Lavisha > Sasha > Aisha
Aisha > Lavisha > Sasha > Esha
Sasha >Esha> Lavisha > Aisha
Correct answer
Sasha >Esha> Lavisha > Aisha
Using the data in table and figure below, match the curve in column-A to its representative cost in column-B (assume all units produced are sold).
I-(a), II-(c), III-(b)
II-(a), I-(c), III-(b)
III-(a), II-(c), I-(b)
IV-(a), II-(c), III-(b)
Correct answer
IV-(a), II-(c), III-(b)
An increase in Monisha’s income decreases her demand for Glucon-D. Then, for Monisha, Glucon- D is
A complement to any good
A normal good
An inferior good
A substitute to any good
Correct answer
An inferior good
