TEST BANK For Business Analytics: Data Analysis & Decision Making, 7th Edition by S. Christian Albright, Wayne L. Winston, Verified Chapters 1 - 19, Complete Newest Version

TEST BANK ss ss




Business Analytics: Data Analysis & Decision Making,
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7th Edition. S. Christian Albright, Wayne L. Winston
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ss Verified Chapters 1 - 19, Complete
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Business Analytics: Data Analysis & Decision Making,
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,Chapter 1. Introduction to Business Analytics
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1. The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include which of
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the
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a. optimization techniques ss b. decision analysis with uncertainty
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c. structured sensitivity analysis
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ANSWER: d
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Knowledge
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TOPICS: A-Head: 1-2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making
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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.
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c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
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d. Dealing with uncertainty requires a basic understanding of probability.
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ANSWER: c
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Knowledge
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TOPICS: A-Head: 1.2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making
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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
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c. decision making
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ANSWER: d
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Knowledge
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TOPICS: A-Head: 1.2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making
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4. Data analysis includes:
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a. data description ss b. data inference
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c. the search for relationships in data
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ANSWER: d
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Knowledge
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TOPICS: A-Head: 1.2 Overview of the Book
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Business Analytics: Data Analysis & Decision Making,
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,OTHER: BUSPROG: Analytic | DISC: Decision Making
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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.
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b. Collect and summarize data.
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Business Analytics: Data Analysis & Decision Making,
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, c. Verify the model. ss ss



d. Present the results. ss ss



e. Implement the model and update it through time. ss ss ss ss ss ss ss



ANSWER: a
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Comprehension
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TOPICS: A-Head: 1.2 Overview of the Book ss ss ss ss ss



OTHER: BUSPROG: Analytic | DISC: Decision Making ss ss ss ss ss




6. Which of the following would not be included under data analysis?
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a. measuring uncertainty b. data description
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c. data inference
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ANSWER: a
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Comprehension
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TOPICS: A-Head: 1.2 Overview of the Book ss ss ss ss ss



OTHER: BUSPROG: Analytic | DISC: Decision Making ss ss ss ss ss




7. The decision making process includes:
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a. optimization techniques for problems with no uncertainty
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b. decision analysis for problems with uncertainty
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c. sensitivity analysis ss



d. all of these choices
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ANSWER: d
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Knowledge ss ss ss



TOPICS: A-Head: 1.2 Overview of the Book ss ss ss ss ss



OTHER: BUSPROG: Analytic | DISC: Decision Making ss ss ss ss ss




8. Which tool is an Excel add-in for performing what-if analyses?
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®
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a. PrecisionTree
b. TopRank
c. Solver
d. @Risk
e. StatTools
ANSWER: b
POINTS: 1
DIFFICULTY: s s Easy | Bloom's: Comprehension
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TOPICS: A-Head: 1.2 Overview of the Book ss ss ss ss ss



OTHER: BUSPROG: Analytic | DISC: Decision Making ss ss ss ss ss




Business Analytics: Data Analysis & Decision Making,
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