MSIS 3223 QUIZ 1 QUESTIONS AND
ANSWERS
Descriptive analytics helps detect hidden patterns in large quantities of data to group
data into sets to predict behavior. - Correct Answers -False
A manager at Academy wishes to know the company's revenue and profit in its previous
quarter. Predictive analytics is what the manager should use for this task. - Correct
Answers -False
Prescriptive analytics can help a company address the best way of shipping goods from
their factories to minimize costs. - Correct Answers -True
Analyzing the problem is the first phase in decision making. - Correct Answers -False
A deterministic model is one in which all model input information is either known or
assumed to be known with certainty. - Correct Answers –True
AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions
are true and FALSE if not. - Correct Answers -True
The Pareto principle is often called the "80--20 rule." - Correct Answers -True
The filter tool extracts records meeting the specified criteria, deleting any records that
don't match the criteria. - Correct Answers -False
The demand for professionals with analytics expertise has skyrocketed. - Correct
Answers -True
Modern business analytics can be viewed as an integration of Business Intelligence,
Information Systems, statistics, and modeling and optimization. - Correct Answers -True
Statistics has a long and rich history, yet only rather recently has it been recognized as
an important element of business, driven to a large extent by the massive growth of
data in today's world. - Correct Answers -True
Decision models typically have three types of input: Data, uncontrollable inputs, and
decision options. - Correct Answers -True
ANSWERS
Descriptive analytics helps detect hidden patterns in large quantities of data to group
data into sets to predict behavior. - Correct Answers -False
A manager at Academy wishes to know the company's revenue and profit in its previous
quarter. Predictive analytics is what the manager should use for this task. - Correct
Answers -False
Prescriptive analytics can help a company address the best way of shipping goods from
their factories to minimize costs. - Correct Answers -True
Analyzing the problem is the first phase in decision making. - Correct Answers -False
A deterministic model is one in which all model input information is either known or
assumed to be known with certainty. - Correct Answers –True
AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions
are true and FALSE if not. - Correct Answers -True
The Pareto principle is often called the "80--20 rule." - Correct Answers -True
The filter tool extracts records meeting the specified criteria, deleting any records that
don't match the criteria. - Correct Answers -False
The demand for professionals with analytics expertise has skyrocketed. - Correct
Answers -True
Modern business analytics can be viewed as an integration of Business Intelligence,
Information Systems, statistics, and modeling and optimization. - Correct Answers -True
Statistics has a long and rich history, yet only rather recently has it been recognized as
an important element of business, driven to a large extent by the massive growth of
data in today's world. - Correct Answers -True
Decision models typically have three types of input: Data, uncontrollable inputs, and
decision options. - Correct Answers -True
