Chapter 01: Introduction to Business Analytics
True / False
1. Data analysis includes data description, data visualization, data inference, and the search for relationships in data.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember
2. A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
that companies currently encounter.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 Introduction
LEARNING OBJECTIVES: DADM_ALWI.25.01.01 - To understand why the methods discussed in this book apply to all
business people, not just the “quant jocks.”
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember
3. Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
4. When we use simulation models to help make decisions, we do not deal with uncertainty, because we can carry out
calculations and avoid performing inferences.
a. True
b. False
Page 1
, Chapter 01: Introduction to Business Analytics
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES:DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
5. We must deal with uncertainty when we make inferences from data and search for relationships in data, or when we use
decision trees to help make decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
6. Spreadsheet models typically involve inputs, decision variables, and outputs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
LEARNING OBJECTIVES: DADM_ALWI.25.01.03 - To start learning Excel modeling skills, including several Excel
functions that will be used throughout the book.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
7. Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then relating them appropriately, by
means of formulas, to obtain the decision variables.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
Page 2
True / False
1. Data analysis includes data description, data visualization, data inference, and the search for relationships in data.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember
2. A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
that companies currently encounter.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 Introduction
LEARNING OBJECTIVES: DADM_ALWI.25.01.01 - To understand why the methods discussed in this book apply to all
business people, not just the “quant jocks.”
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember
3. Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
4. When we use simulation models to help make decisions, we do not deal with uncertainty, because we can carry out
calculations and avoid performing inferences.
a. True
b. False
Page 1
, Chapter 01: Introduction to Business Analytics
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES:DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
5. We must deal with uncertainty when we make inferences from data and search for relationships in data, or when we use
decision trees to help make decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
6. Spreadsheet models typically involve inputs, decision variables, and outputs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
LEARNING OBJECTIVES: DADM_ALWI.25.01.03 - To start learning Excel modeling skills, including several Excel
functions that will be used throughout the book.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand
7. Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then relating them appropriately, by
means of formulas, to obtain the decision variables.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
Page 2
