Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
SOLUTION MANUAL
All Chapters Included
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
Introduction to Business Analytics, 1st Edition By Vernon Richardson
and Marcia Watson Verified Chapter's 1 - 12 | Complete
TABLE OF CONTENTS
Chapter 1: Specify the Question: Using Business Analytics to Address Business
Questions
Chapter 2: Obtain the Data: An Introduction to Business Data Sources
Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business
Analytics
Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics
and Diagnostic Analytics)
Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics
and Prescriptive Analytics)
Chapter 6: Report the Results: Using Data Visualization
Chapter 7: Marketing Analytics
Chapter 8: Accounting Analytics
Chapter 9: Financial Analytics
Chapter 10: Operations Analytics
Chapter 11: Advanced Business Analytics
Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone
Projects
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
ANSWERS ARE WRITTEN IN BOLD
Chapter 1 End-of-Chapter Assignment Solutions
Multiple Choice Questions
1. (LO 1.1) A coordinated, standardized set of activities conducted by both
people and equipment to accomplish a specific business task is called .
a. business processes
b. business analysis
c. business procedure
d. business value
2.(LO 1.2) According to the information value chain, data combined with
context is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3.(LO 1.5) Which phase of the SOAR analytics model addresses the proper
way to communicate results to the decision maker?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the
most appropriate data needed to address the business question?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next
quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something
will happen? Can we forecast what will happen?
d. What should we do, based on what we expect will happen? How do
we optimize our performance based on potential constraints?
6. (LO 1.5) Which questions seek information on the routing of products
from Queretaro, Mexico to Chicago, United States in the last quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will
happen? Can we forecast what will happen?
d. What should we do, based on what we expect will happen? How do
we optimize our performance based on potential constraints?
SOLUTION MANUAL
All Chapters Included
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
Introduction to Business Analytics, 1st Edition By Vernon Richardson
and Marcia Watson Verified Chapter's 1 - 12 | Complete
TABLE OF CONTENTS
Chapter 1: Specify the Question: Using Business Analytics to Address Business
Questions
Chapter 2: Obtain the Data: An Introduction to Business Data Sources
Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business
Analytics
Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics
and Diagnostic Analytics)
Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics
and Prescriptive Analytics)
Chapter 6: Report the Results: Using Data Visualization
Chapter 7: Marketing Analytics
Chapter 8: Accounting Analytics
Chapter 9: Financial Analytics
Chapter 10: Operations Analytics
Chapter 11: Advanced Business Analytics
Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone
Projects
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
ANSWERS ARE WRITTEN IN BOLD
Chapter 1 End-of-Chapter Assignment Solutions
Multiple Choice Questions
1. (LO 1.1) A coordinated, standardized set of activities conducted by both
people and equipment to accomplish a specific business task is called .
a. business processes
b. business analysis
c. business procedure
d. business value
2.(LO 1.2) According to the information value chain, data combined with
context is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3.(LO 1.5) Which phase of the SOAR analytics model addresses the proper
way to communicate results to the decision maker?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the
most appropriate data needed to address the business question?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next
quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something
will happen? Can we forecast what will happen?
d. What should we do, based on what we expect will happen? How do
we optimize our performance based on potential constraints?
6. (LO 1.5) Which questions seek information on the routing of products
from Queretaro, Mexico to Chicago, United States in the last quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will
happen? Can we forecast what will happen?
d. What should we do, based on what we expect will happen? How do
we optimize our performance based on potential constraints?
