Business Analytics Exam questions and answers graded A+

Business Analytics Exam questions
and answers graded A+
Which of the following is the definition of decision making you learned from this class?



A) It is to maximize profit.

B) It is to choose among alternative courses of action to improve organization performance.

C) It is to provide leadership for an organization.

D) It is to minimize costs.

E) It is to make successful business plans. - ANS✅✅B) It is to choose among alternative courses of
action to improve organization performance.



What is the sequence of the decision making process? - ANS✅✅1. Define a decision making
situation

2. Determine the criteria used to evaluate alternative solutions

3. Identify alternative solutions

4. Evaluate each alternative using the chosen criteria

5. Choose one alternative



What are 4 characteristics of a business analytics approach to decision making? - ANS✅✅1. fact-
based

2. data-driven

3. scientific

4. computer-assisted



What type of analytics asks "What should happen?" - ANS✅✅Prescriptive Analytics



What type of analytics asks "What could happen?" - ANS✅✅Predictive Analytics



What type of analytics asks "What has happened?" - ANS✅✅Descriptive Analytics



Descriptive analytics techniques include the following EXCEPT:

,A) What-If analysis

B) Data-mining

C) Simulations

D) Data queries

E) Reports - ANS✅✅C) Simulations



What does SQL stand for? - ANS✅✅Structured Query Language



Which 3 of the following are characteristics of big data?



A) Validity

B) Valence

C) Volume

D) Variety

E) Vitality

F) Veracity - ANS✅✅C) Volume

D) Variety

F) Veracity



Which 1 of the following is a predictive analytics software tool?



A) IBM SPSS Modeler

B) Oracle

C) Regression tree

D) Simulation

E) Time-Series forecasting - ANS✅✅A) IBM SPSS Modeler



Which 1 of the following is a prescriptive analytics technique?



A) Cluster analysis

, B) Decison rules

C) Linear regression

D) What-If analysis

E) Simulation - ANS✅✅B) Decison rules



We discussed many business analytics applications in various business domain in this class. Which 2
of the following is explicitly cited as an illustrative example?



A) Artificial intelligence

B) Accounting

C) Health care

D) Statistics

E) Sports - ANS✅✅C) Health care

E) Sports



Business Analytics tools are essentially _____. - ANS✅✅software



Which 3 of the following Business Analytics functionalities will be covered in this class?



A) Data analysis

B) Data warehousing

C) Data reporting

D) Data pre-processing

E) Data management

F) Data outsourcing - ANS✅✅A) Data analysis

C) Data reporting

D) Data pre-processing



Which 3 of the following is TRUE about JMP?



A) It is developed at SAS.