Test Bank Business Analytics Data Analysis and Decision Making 6th complete exam que
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stions and answers Chapter 1-20
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1. The decision-
as
making themes covered in Business Analytics: Data Analysis & Decision Making include which of the
as as as as as as as as as as as as as as a s following?
a. optimization techniques b. decision analysis with uncertainty
as as as as as
c. structured sensitivity analysis
as as as d. all of these choices
as as as as
ANSWER: d
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge as as as
TOPICS: A-Head: 1-2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
2. Which statement is not true?
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a. Dealing with uncertainty includes measuring uncertainty.
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b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
as as as as as as as as as
c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
as as as as as as as as as as as
d. Dealing with uncertainty requires a basic understanding of probability.
as as as as as as as as
ANSWER: c
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
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a. data analysis b. dealing with uncertainty
as as as as
c. decision making
as d. data mining as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
4. Data analysis includes:
as as
a. data description as b. data inference as as
c. the search for relationships in data
as as d. all of these choices
as as as as as as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
5. Which of the following is not one of the steps in the modeling process?
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a. Select the scale for the model.
as as as as as
b. Collect and summarize data. as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 1
as
.
, c. Verify the model. as as
d. Present the results. as as
e. Implement the model and update it through time. as as as as as as as
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
6. Which of the following would not be included under data analysis?
as as as as as as as as as as
a. measuring uncertainty b. data description as as as
c. data inference
as as d. search for relationships as as as
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
7. The decision making process includes:
as as as as
a. optimization techniques for problems with no uncertainty as as as as as as
b. decision analysis for problems with uncertainty
as as as as as
c. sensitivity analysis as
d. all of these choices
as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
8. Which tool is an Excel add-in for performing what-if analyses?
as as as as asa s
as as as as
®
a. PrecisionTree
b. TopRank
c. Solver
d. @Risk
e. StatTools
ANSWER: b
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
9. Which of the following statements are true?
as as as as as as
a. Three important themes run through the book: data analysis, decision making, and uncertainty.
as as as as as as as as as as as as
b. Data analysis includes data description, data inference, and the searching for relationships in data
as as as as as as as as as as as as as
c. Decision making includes optimization techniques for problems with no uncertainty, decision analysis for
as as as as as as as as as as as as
a s problems with uncertainty, and structured sensitivity analysis.
as as as as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 2
as
.
, d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the analysis.
as as as as as as as as as as as as
e. All of these statements are true.
as as as as as
ANSWER: e
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
10. Data analysis includes data description, data inference, and the search for relationships in data.
as as as as as as as as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
11. Decision-
making includes optimization techniques for problems with certainty, decision analysis for problems with
as as as as as as as as as as as as a s certainty, as
and structured sensitivity analysis.
as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
12.
A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
as as as as as as as as as as as as as as as as as as as as a
sthat companies currently encounter.
as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
13. Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis,
as as as as as as as as as as as as as as as
a s decision-making, and dealing with uncertainty. as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 3
as
.
, ®
14. Spreadsheet simulations cannot be performed entirely with the built-in or add-in tools in Excel
as as as as as as as as as as as as as , so spreadsheet
as as
simulations are still one of the most difficult quantitative models to implement in the business world.
as as as as as as as as as as as as as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Data Methods as as as as as
15. Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
as as as as as as as as as as as as as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Data Methods as as as as as
16. When we use simulation models to help make decisions, we do not deal with uncertainty at all, since we often must
as as as as as as as as as as as as as as as as as as as as
a s make inferences from the simulated data.
as as as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
17. We must deal with uncertainty when we make inferences from data and search for relationships in data, or when we
as as as as as as as as as as as as as as as as as as as
a s use decision trees to help make decisions.
as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
18. @Risk is an Excel add-in that can be used to run replications of a simulation, keep track of outputs, create useful
as as as asa s
as as as as as as as as as as as as as as as as
®
charts, and perform sensitivity analyses.
as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 4
as
.
as as as as as as as as as as as a s
stions and answers Chapter 1-20
as as as as
1. The decision-
as
making themes covered in Business Analytics: Data Analysis & Decision Making include which of the
as as as as as as as as as as as as as as a s following?
a. optimization techniques b. decision analysis with uncertainty
as as as as as
c. structured sensitivity analysis
as as as d. all of these choices
as as as as
ANSWER: d
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge as as as
TOPICS: A-Head: 1-2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
2. Which statement is not true?
as as as as
a. Dealing with uncertainty includes measuring uncertainty.
as as as as as
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
as as as as as as as as as
c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
as as as as as as as as as as as
d. Dealing with uncertainty requires a basic understanding of probability.
as as as as as as as as
ANSWER: c
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
as as as as as as as as as as as as as as as as as
a. data analysis b. dealing with uncertainty
as as as as
c. decision making
as d. data mining as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
4. Data analysis includes:
as as
a. data description as b. data inference as as
c. the search for relationships in data
as as d. all of these choices
as as as as as as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
5. Which of the following is not one of the steps in the modeling process?
as as as as as as as as as as as as as
a. Select the scale for the model.
as as as as as
b. Collect and summarize data. as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 1
as
.
, c. Verify the model. as as
d. Present the results. as as
e. Implement the model and update it through time. as as as as as as as
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
6. Which of the following would not be included under data analysis?
as as as as as as as as as as
a. measuring uncertainty b. data description as as as
c. data inference
as as d. search for relationships as as as
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
7. The decision making process includes:
as as as as
a. optimization techniques for problems with no uncertainty as as as as as as
b. decision analysis for problems with uncertainty
as as as as as
c. sensitivity analysis as
d. all of these choices
as as as
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
8. Which tool is an Excel add-in for performing what-if analyses?
as as as as asa s
as as as as
®
a. PrecisionTree
b. TopRank
c. Solver
d. @Risk
e. StatTools
ANSWER: b
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
9. Which of the following statements are true?
as as as as as as
a. Three important themes run through the book: data analysis, decision making, and uncertainty.
as as as as as as as as as as as as
b. Data analysis includes data description, data inference, and the searching for relationships in data
as as as as as as as as as as as as as
c. Decision making includes optimization techniques for problems with no uncertainty, decision analysis for
as as as as as as as as as as as as
a s problems with uncertainty, and structured sensitivity analysis.
as as as as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 2
as
.
, d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the analysis.
as as as as as as as as as as as as
e. All of these statements are true.
as as as as as
ANSWER: e
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
10. Data analysis includes data description, data inference, and the search for relationships in data.
as as as as as as as as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
11. Decision-
making includes optimization techniques for problems with certainty, decision analysis for problems with
as as as as as as as as as as as as a s certainty, as
and structured sensitivity analysis.
as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
12.
A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
as as as as as as as as as as as as as as as as as as as as a
sthat companies currently encounter.
as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
13. Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis,
as as as as as as as as as as as as as as as
a s decision-making, and dealing with uncertainty. as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Knowledge
as as as
TOPICS: A-Head: 1.2 Overview of the Bookas as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 3
as
.
, ®
14. Spreadsheet simulations cannot be performed entirely with the built-in or add-in tools in Excel
as as as as as as as as as as as as as , so spreadsheet
as as
simulations are still one of the most difficult quantitative models to implement in the business world.
as as as as as as as as as as as as as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Data Methods as as as as as
15. Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
as as as as as as as as as as as as as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Data Methods as as as as as
16. When we use simulation models to help make decisions, we do not deal with uncertainty at all, since we often must
as as as as as as as as as as as as as as as as as as as as
a s make inferences from the simulated data.
as as as as as
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
17. We must deal with uncertainty when we make inferences from data and search for relationships in data, or when we
as as as as as as as as as as as as as as as as as as as
a s use decision trees to help make decisions.
as as as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: a s Easy | Bloom's: Comprehension
as as as
TOPICS: A-Head: 1.2 Overview of the Book as as as as as
OTHER: BUSPROG: Analytic | DISC: Decision Making as as as as as
18. @Risk is an Excel add-in that can be used to run replications of a simulation, keep track of outputs, create useful
as as as asa s
as as as as as as as as as as as as as as as as
®
charts, and perform sensitivity analyses.
as as as as
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension a s as as as
Copyright Cengage Learning. Powered by Cognero
as as as as as Page 4
as
.
