Bcor 2020 Study Exam Test.

BCOR 2020 STUDY EXAM TEST. The decisions concerning an organization's goals and future plans are called A. Financial decisions B. Operational decisions C. Tactical decisions D. Strategic decisions - CORRECT ANSWER D. Strategic decisions Which of the following is NOT an approach to making decisions? A. Intuition B. Guess and check C. Tradition D. Rules of thumb - CORRECT ANSWER B. Guess and check True or False: data-driven decision making tends to decrease a firm's risk. - CORRECT ANSWER True True or False: Data dashboards are a type of predictive analytics - CORRECT ANSWER False In the spectrum of business analytics, which is the most complex? A. Prescriptive B. Operational C. Descriptive D. Predictive - CORRECT ANSWER A. Prescriptive A quantity of interest that can take on different values is known as a(n) ______________ A. Variable 2. Parameter 3. Sample 4. Observation - CORRECT ANSWER A. Variable The difference in variable measured over observations (time, customers, items, etc.) is known as ______________ A. Variable change B. Observed differences C. Descriptive analytics D. Variation - CORRECT ANSWER D. Variation The letter grades (A,B,C,D,F) of business analysis students are recorded by a professor. This variable's classification ___________ A. Is quantitative data B. Is time series data C. Cannot be determined D. Is categorical data - CORRECT ANSWER D. Is categorical data True or False: Data collected form several entities over a period of time (minutes, hours, days, etc.) are called cross-sectional data - CORRECT ANSWER False True or False: A population is a subset of a sample - CORRECT ANSWER False Which of the following is a set of interrelated components that collect, manipulate, store, and disseminate data and information and provide a feedback mechanism to meet an objective? A. information system B. big data C. software D. hardware - CORRECT ANSWER A. information system True or False: Information consists of raw facts, such as an employee number, number of hours worked in a week, inventory part numbers, or sales orders. - CORRECT ANSWER False True or False: A set of random or unrelated tasks performed to achieve a definite outcome is called a process. - CORRECT ANSWER False True or False: A sustaining innovation is one that initially provides a lower level of performance than the marketplace has grown to accept. - CORRECT ANSWER False True or False: The concept of a value chain is not significant to organizations unless they manufacture products. - CORRECT ANSWER Fasle The value of information is directly linked to how it helps decision makers achieve their organization's _____. A. cost/profit target B. customer satisfaction levels C. goals D. cost reduction initiatives - CORRECT ANSWER C. goals The idea of _____ is a form of innovation that constantly seeks ways to improve business processes and