Test Bank – Business Analytics (James R. Evans, 3rd Edition) |
2025 Revised & Verified Complete Chapters 1-16 Solutions
Page | 1
, Table of Contents
Chapter 1: Introduction to Business Analytics
Chapter 1: Appendix A1 Basic Excel Skills
Chapter 2: Database Analytics
Chapter 3: Data Visualization
Chapter 4: Descriptive Statistics
Chapter 5: Probability Distributions and Data Modeling
Chapter 6: Sampling and Estimation
Chapter 7: Statistical Inference
Chapter 8: Trendlines and Regression Analysis
Chapter 9: Forecasting Techniques
Chapter 10: Introduction to Data Mining
Chapter 11: Spreadsheet Modeling and Analysis
Chapter 12: Simulation and Risk Analysis
Chapter 13: Linear Optimization
Chapter 14: Integer and Nonlinear Optimization Models
Chapter 15: Optimization Analytics
Chapter 16: Decision Analysis
Page | 2
, Chapter 1: Introduction to Business Analytics
1) Descriptive analytics:
A) can predict risk and find relationships in data not readily apparent with traditional analyses.
B) helps companies classify their customers into segments to develop specific marketing campaigns.
C) helps detect hidden patterns in large quantities of data to group data into sets to predict behavior.
D) can use mathematical techniques with optimization to make decisions that take into account
the uncertainty in the data.
Correct Answer: B Diff: 1
Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
2) A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous quarter.
Which of the following business analytics will help the manager?
A) prescriptive analytics
B) normative analytics
C) descriptive analytics
D) predictive analytics Correct Answer: C
Diff: 1
Blooms: Apply AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
3) Predictive analytics:
A) summarizes data into meaningful charts and reports that can be standardized or customized.
B) identifies the best alternatives to minimize or maximize an objective.
C) uses data to determine a course of action to be executed in a given situation.
Page | 3
, D) detects patterns in historical data and extrapolates them forward in time. Correct Answer: D
Diff: 2
Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
4) A trader who wants to predict short-term movements in stock prices is likely to use analytics.
A) predictive
B) descriptive
C) normative
D) prescriptive Correct Answer: A Diff: 1
Blooms: Apply AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
5) Which of the following questions will prescriptive analytics help a company address?
A) How many and what types of complaints did they resolve?
B) What is the best way of shipping goods from their factories to minimize costs?
C) What do they expect to pay for fuel over the next several months?
D) What will happen if demand falls by 10% or if supplier prices go up 5%? Correct Answer: B
Diff: 2
Blooms: Understand AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
Page | 4
2025 Revised & Verified Complete Chapters 1-16 Solutions
Page | 1
, Table of Contents
Chapter 1: Introduction to Business Analytics
Chapter 1: Appendix A1 Basic Excel Skills
Chapter 2: Database Analytics
Chapter 3: Data Visualization
Chapter 4: Descriptive Statistics
Chapter 5: Probability Distributions and Data Modeling
Chapter 6: Sampling and Estimation
Chapter 7: Statistical Inference
Chapter 8: Trendlines and Regression Analysis
Chapter 9: Forecasting Techniques
Chapter 10: Introduction to Data Mining
Chapter 11: Spreadsheet Modeling and Analysis
Chapter 12: Simulation and Risk Analysis
Chapter 13: Linear Optimization
Chapter 14: Integer and Nonlinear Optimization Models
Chapter 15: Optimization Analytics
Chapter 16: Decision Analysis
Page | 2
, Chapter 1: Introduction to Business Analytics
1) Descriptive analytics:
A) can predict risk and find relationships in data not readily apparent with traditional analyses.
B) helps companies classify their customers into segments to develop specific marketing campaigns.
C) helps detect hidden patterns in large quantities of data to group data into sets to predict behavior.
D) can use mathematical techniques with optimization to make decisions that take into account
the uncertainty in the data.
Correct Answer: B Diff: 1
Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
2) A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous quarter.
Which of the following business analytics will help the manager?
A) prescriptive analytics
B) normative analytics
C) descriptive analytics
D) predictive analytics Correct Answer: C
Diff: 1
Blooms: Apply AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
3) Predictive analytics:
A) summarizes data into meaningful charts and reports that can be standardized or customized.
B) identifies the best alternatives to minimize or maximize an objective.
C) uses data to determine a course of action to be executed in a given situation.
Page | 3
, D) detects patterns in historical data and extrapolates them forward in time. Correct Answer: D
Diff: 2
Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
4) A trader who wants to predict short-term movements in stock prices is likely to use analytics.
A) predictive
B) descriptive
C) normative
D) prescriptive Correct Answer: A Diff: 1
Blooms: Apply AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
5) Which of the following questions will prescriptive analytics help a company address?
A) How many and what types of complaints did they resolve?
B) What is the best way of shipping goods from their factories to minimize costs?
C) What do they expect to pay for fuel over the next several months?
D) What will happen if demand falls by 10% or if supplier prices go up 5%? Correct Answer: B
Diff: 2
Blooms: Understand AACSB: Analytic Skills
Topic: Descriptive, Predictive, and Prescriptive Analytics
LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
Page | 4
