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Introduction to Business Analytics 1st Edition Vernon J. Richardson Marcia
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wWeiden Chapter 1-11 w w
Answers are at the End of Each Chapter
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Chapter 1 w
Student name: w
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
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1) A business process is a coordinated, standardized set of activities conducted by both
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people and equipment to accomplish a specific business task.
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⊚ true w
⊚ false w
2) A business analyst is a data scientist who collects data to help an organization
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make effective business decisions.
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⊚ true w
⊚ false w
3) Data is defined as information organized in a meaningful way to be useful to the user.
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⊚ true w
⊚ false w
4) Information is defined as being data organized in a meaningful way to be useful to the user
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in a given context.
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⊚ true w
⊚ false w
5) A data scientist is a liaison between decision makers and business analysts.
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⊚ true w
⊚ false w
6) Operations analytics uses business analytics to measure and improve the efficiency
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and effectiveness of the company’s operations.
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⊚ true w
⊚ false w
,7) The third step in the SOAR analytics model is to Access the data.
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⊚ true w
⊚ false w
8) Exploratory data visualization is used to communicate results of the analysis to
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decision makers and other stakeholders.
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⊚ true w
⊚ false w
CHECK ALL THE APPLY. Choose all options that best completes the statement or
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answers the question.
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9) A visualization may be used to help with which component of the SOAR model?
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A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
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answers the question.
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10) The difficulty a person faces in understanding a problem and making a decision as
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a consequence of having too much data.
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A) Data Complexity w
B) Data Overload w
C) Analytics Mindset w
D) Data Challenges w
11) Which step of the SOAR model would usually involve computing an average?
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A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
12) Which step of the SOAR model most appropriately addresses the skill mentioned by
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EY’s analytics mindset of “extract, transform and load relevant data”?
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A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
, 13) Use of a dashboard to track relevant outcomes would be consistent with which component
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wof the SOAR model?
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A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
14) What type of question(s) works to explain “Why did net income increase even though
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wsales did not?”w w
A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?
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D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
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15) What type of question is used in finding the level of sales needed to break even (exactly
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wzero profit)?
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A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?w w
D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
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16) What type of question is “How long will it take for Christmas products to arrive at our
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wstores if we source the products from Mexico rather than Indonesia?”
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A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?
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D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
w w w w w w
Introduction to Business Analytics 1st Edition Vernon J. Richardson Marcia
w w w w w w w w w
wWeiden Chapter 1-11 w w
Answers are at the End of Each Chapter
w w w w w w w
Chapter 1 w
Student name: w
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
w w w w w w w w w w w w w w w
1) A business process is a coordinated, standardized set of activities conducted by both
w w w w w w w w w w w w
people and equipment to accomplish a specific business task.
w w w w w w w w w
⊚ true w
⊚ false w
2) A business analyst is a data scientist who collects data to help an organization
w w w w w w w w w w w w w
make effective business decisions.
w w w w
⊚ true w
⊚ false w
3) Data is defined as information organized in a meaningful way to be useful to the user.
w w w w w w w w w w w w w w w
⊚ true w
⊚ false w
4) Information is defined as being data organized in a meaningful way to be useful to the user
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in a given context.
w w w w
⊚ true w
⊚ false w
5) A data scientist is a liaison between decision makers and business analysts.
w w w w w w w w w w w
⊚ true w
⊚ false w
6) Operations analytics uses business analytics to measure and improve the efficiency
w w w w w w w w w w
and effectiveness of the company’s operations.
w w w w w w
⊚ true w
⊚ false w
,7) The third step in the SOAR analytics model is to Access the data.
w w w w w w w w w w w w
⊚ true w
⊚ false w
8) Exploratory data visualization is used to communicate results of the analysis to
w w w w w w w w w w w
decision makers and other stakeholders.
w w w w w
⊚ true w
⊚ false w
CHECK ALL THE APPLY. Choose all options that best completes the statement or
w w w w w w w w w w w w
answers the question.
w w w
9) A visualization may be used to help with which component of the SOAR model?
w w w w w w w w w w w w w
A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
w w w w w w w w w w w w
answers the question.
w w w
10) The difficulty a person faces in understanding a problem and making a decision as
w w w w w w w w w w w w w
a consequence of having too much data.
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A) Data Complexity w
B) Data Overload w
C) Analytics Mindset w
D) Data Challenges w
11) Which step of the SOAR model would usually involve computing an average?
w w w w w w w w w w w
A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
12) Which step of the SOAR model most appropriately addresses the skill mentioned by
w w w w w w w w w w w w
EY’s analytics mindset of “extract, transform and load relevant data”?
w w w w w w w w w w
A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
, 13) Use of a dashboard to track relevant outcomes would be consistent with which component
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wof the SOAR model?
w w w
A) Specify the Question w w
B) Obtain the Data w w
C) Analyze the Data w w
D) Report the Results w w
14) What type of question(s) works to explain “Why did net income increase even though
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wsales did not?”w w
A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?
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D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
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15) What type of question is used in finding the level of sales needed to break even (exactly
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wzero profit)?
w
A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?w w
D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
w w w w w w
16) What type of question is “How long will it take for Christmas products to arrive at our
w w w w w w w w w w w w w w w w
wstores if we source the products from Mexico rather than Indonesia?”
w w w w w w w w w w
A) What happened? What is happening? w w w w
B) Why did it happen? What are the root causes of past results?
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C) Will it happen in the future? What is the probability something will happen? Is
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it forecastable?
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D) What should we do based on what we expect will happen? How do we optimize
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our performance based on potential constraints?
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