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Business Analytics: Data Analysis notes
S. Christian Albright, Wayne L. Winston - ISBN: 9781337225274
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View all 22 revision notes of Business Analytics: Data Analysis , written by S. Christian Albright, Wayne L. Winston. All Business Analytics: Data Analysis notes, summaries, flashcards and study guides are written by fellow students or tutors. Get yourself a Business Analytics: Data Analysis summary or other study material that matches your study style perfectly, and studying will be a breeze.
Best selling Business Analytics: Data Analysis notes
1. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an
organization faces the same situation each week, this is referred to as
a. static scheduling problem
b. dynamic scheduling problem
c. transportation scheduling problem
d. All of these options

A meat market manager for a large grocery store is preparing a processing plan to stock the shelves with
sausage, ground meat, and jerky, which he can prepare from beef, pork and venison. Sausag...
- Exam (elaborations)
- • 64 pages •
1. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an
organization faces the same situation each week, this is referred to as
a. static scheduling problem
b. dynamic scheduling problem
c. transportation scheduling problem
d. All of these options

A meat market manager for a large grocery store is preparing a processing plan to stock the shelves with
sausage, ground meat, and jerky, which he can prepare from beef, pork and venison. Sausag...
1. Text files are also known as:
a. Excel spreadsheets
b. Excel workbooks
c. ASCII files
d. Notepad files

2. Anna is getting ready to insert a blank column, paste information from a previous spreadsheet into the first four rows
of this column, and bold the heading. And she needs to do this for all 150 product lines in her area. How is this task
best handled?
a. Using the insert, copy, paste commands in Excel.
b. Writing a macro to handle this repetitive task.
c. Writing instructions that incorp...
- Exam (elaborations)
- • 4 pages •
1. Text files are also known as:
a. Excel spreadsheets
b. Excel workbooks
c. ASCII files
d. Notepad files

2. Anna is getting ready to insert a blank column, paste information from a previous spreadsheet into the first four rows
of this column, and bold the heading. And she needs to do this for all 150 product lines in her area. How is this task
best handled?
a. Using the insert, copy, paste commands in Excel.
b. Writing a macro to handle this repetitive task.
c. Writing instructions that incorp...
1. Which of the following is not one of Deming’s 14 Points?
a. Use Lowest-Tender Contracts.
b. Have Constancy of Purpose.
c. Institute Leadership of People.
d. Break Down Barriers.

2. Michael has incorporated a vigorous cross-training program within his department. This is an example of which of
Deming’s 14 points?
a. Improve Every Process.
b. Institute Training.
c. Drive Out Fear.
d. Encourage Education.

3. Jada has decided to implement weekly meetings between departments to discuss issue...
- Exam (elaborations)
- • 4 pages •
1. Which of the following is not one of Deming’s 14 Points?
a. Use Lowest-Tender Contracts.
b. Have Constancy of Purpose.
c. Institute Leadership of People.
d. Break Down Barriers.

2. Michael has incorporated a vigorous cross-training program within his department. This is an example of which of
Deming’s 14 points?
a. Improve Every Process.
b. Institute Training.
c. Drive Out Fear.
d. Encourage Education.

3. Jada has decided to implement weekly meetings between departments to discuss issue...
1. A sample of a population taken at one particular point in time is categorized as:
a. categorical b. discrete
c. cross-sectional d. time-series
 c
2. Excel stores dates as
a. numbers b. variables
c. records d. text
 a
3. Researchers may gain insight into the characteristics of a population by examining a
a. mathematical model describing the population
b. sample of the population
c. description of the population
d. replica
 b
4. In order for the characteristics of a sample to be generalized to ...
- Exam (elaborations)
- • 25 pages •
1. A sample of a population taken at one particular point in time is categorized as:
a. categorical b. discrete
c. cross-sectional d. time-series
 c
2. Excel stores dates as
a. numbers b. variables
c. records d. text
 a
3. Researchers may gain insight into the characteristics of a population by examining a
a. mathematical model describing the population
b. sample of the population
c. description of the population
d. replica
 b
4. In order for the characteristics of a sample to be generalized to ...
A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a
mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related
to the customer purchase amounts.
Probability Calculations
P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133,
P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711
Percentiles Calculations
1st Percentile = $9.06, 5th Percentile = $15.20,
95th P...
- Exam (elaborations)
- • 16 pages •
A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a
mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related
to the customer purchase amounts.
Probability Calculations
P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133,
P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711
Percentiles Calculations
1st Percentile = $9.06, 5th Percentile = $15.20,
95th P...
1. The decision-making concepts covered in Data Analysis & Decision Making book include which of the
following?
a. Optimization techniques b. Decision analysis with uncertainty
c. Structured sensitivity analysis d. All of these options

2. Which of the following statements is not true?
a. Dealing with uncertainty includes measuring uncertainty.
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
c. Dealing with uncertainty includes eliminating uncertainty by u...
- Exam (elaborations)
- • 6 pages •
1. The decision-making concepts covered in Data Analysis & Decision Making book include which of the
following?
a. Optimization techniques b. Decision analysis with uncertainty
c. Structured sensitivity analysis d. All of these options

2. Which of the following statements is not true?
a. Dealing with uncertainty includes measuring uncertainty.
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
c. Dealing with uncertainty includes eliminating uncertainty by u...
Description: 
 
Test Bank for Business Analytics Data Analysis and Decision Making, Albright, 6e prepares you efficiently for your upcoming exams. It contains practice test questions tailored for your textbook. Business Analytics Data Analysis and Decision Making, Albright, 6e Test bank allow you to access quizzes and multiple choice questions written specifically for your course. 
 
The test bank will most likely cover the entire textbook. Thus, you will get exams for each chapter in the book....
- Exam (elaborations)
- • 872 pages •
Description: 
 
Test Bank for Business Analytics Data Analysis and Decision Making, Albright, 6e prepares you efficiently for your upcoming exams. It contains practice test questions tailored for your textbook. Business Analytics Data Analysis and Decision Making, Albright, 6e Test bank allow you to access quizzes and multiple choice questions written specifically for your course. 
 
The test bank will most likely cover the entire textbook. Thus, you will get exams for each chapter in the book....
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- Exam (elaborations)
- • 872 pages •
Are you ready to take your academic performance to the next level? Look no further than our extensive collection of test banks for [Business Analytics Data Analysis _ Decision Making,Albright,6e]. Our test banks are meticulously curated to provide you with a comprehensive and in-depth understanding of the subject matter. With hundreds of well-structured questions and detailed explanations, our test banks will help you excel in your studies and achieve outstanding results in your exams. Don't mi...
Business Analytics Data Analysis Decision Making 5th 
Edition Albright 
 
Business Analytics Data Analysis Decision Making 5th 
Edition Albright 
Business Analytics Data Analysis Decision Making 5th 
Edition Albright1. The decision-making concepts covered in Data Analysis & Decision Making book include which of the 
following? 
a. Optimization techniques b. Decision analysis with uncertainty 
c. Structured sensitivity analysis d. All of these options 
ANSWER: d 
2. Which of the following stateme...
- Exam (elaborations)
- • 494 pages •
Business Analytics Data Analysis Decision Making 5th 
Edition Albright 
 
Business Analytics Data Analysis Decision Making 5th 
Edition Albright 
Business Analytics Data Analysis Decision Making 5th 
Edition Albright1. The decision-making concepts covered in Data Analysis & Decision Making book include which of the 
following? 
a. Optimization techniques b. Decision analysis with uncertainty 
c. Structured sensitivity analysis d. All of these options 
ANSWER: d 
2. Which of the following stateme...
Test Bank Business Analytics Data Analysis and Decision Making 6th Edition by S. Christian Albright, Wayne L. Winston. complete Guide A+ Chapter 1-20
- Exam (elaborations)
- • 530 pages •
Test Bank Business Analytics Data Analysis and Decision Making 6th Edition by S. Christian Albright, Wayne L. Winston. complete Guide A+ Chapter 1-20
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Newest Business Analytics: Data Analysis summaries
1. An observational study:
a. analyzes data already available
b. makes it possible to rule out factors over which the researcher has no control for the observed effects
c. examines individuals that have been selected by the researchers
d. allows researchers to control for all extraneous factors

2. Priti is wondering whether time of day impacts worker productivity. She randomly chooses 25 workers from each of
the three shifts her company runs. The design of this study is
a. even
b. balanced
c. u...
- Exam (elaborations)
- • 4 pages •
1. An observational study:
a. analyzes data already available
b. makes it possible to rule out factors over which the researcher has no control for the observed effects
c. examines individuals that have been selected by the researchers
d. allows researchers to control for all extraneous factors

2. Priti is wondering whether time of day impacts worker productivity. She randomly chooses 25 workers from each of
the three shifts her company runs. The design of this study is
a. even
b. balanced
c. u...
1. The set of all values of the changing cells that satisfy all constraints, not including the nonnegativity constraints, is
called the feasible region.
a. True
b. False

2. Linear programming is a subset of a larger class of models called:
a. mathematical programming models
b. mathematical optimality models
c. linear regression models
d. linear simplex model

3. In using Excel to solve linear programming problems, the target cell represents the:
a. value of the objective function
b. constraints...
- Exam (elaborations)
- • 32 pages •
1. The set of all values of the changing cells that satisfy all constraints, not including the nonnegativity constraints, is
called the feasible region.
a. True
b. False

2. Linear programming is a subset of a larger class of models called:
a. mathematical programming models
b. mathematical optimality models
c. linear regression models
d. linear simplex model

3. In using Excel to solve linear programming problems, the target cell represents the:
a. value of the objective function
b. constraints...
1. Which of the following is not one of the assumptions of regression?
a. There is a population regression line
b. The response variable is normally distributed
c. The standard deviation of the response variable increases as the explanatory variables increase
d. The errors are probabilistically independent

2. The error term represents the vertical distance from any point to the
a. estimated regression line
b. population regression line
c. value of the Y’s
d. mean value of the X’s

3. Which ...
- Exam (elaborations)
- • 33 pages •
1. Which of the following is not one of the assumptions of regression?
a. There is a population regression line
b. The response variable is normally distributed
c. The standard deviation of the response variable increases as the explanatory variables increase
d. The errors are probabilistically independent

2. The error term represents the vertical distance from any point to the
a. estimated regression line
b. population regression line
c. value of the Y’s
d. mean value of the X’s

3. Which ...
1. Which methodology is used to group products that customers purchase together?
a. Market basket analysis
b. Prediction
c. Classification analysis
d. Forecasting

2. Mya is investigating the factors that impact soda consumption. She examines a host of variables that help explain the
amount consumed. Which type of data mining methodology is she most likely to use?
a. Market basket analysis
b. Prediction
c. Classification analysis
d. Forecasting

3. A facts table has:
a. few rows and many columns...
- Exam (elaborations)
- • 5 pages •
1. Which methodology is used to group products that customers purchase together?
a. Market basket analysis
b. Prediction
c. Classification analysis
d. Forecasting

2. Mya is investigating the factors that impact soda consumption. She examines a host of variables that help explain the
amount consumed. Which type of data mining methodology is she most likely to use?
a. Market basket analysis
b. Prediction
c. Classification analysis
d. Forecasting

3. A facts table has:
a. few rows and many columns...
1. The three parameters required to specify a triangular distribution are the minimum, mean and maximum.
a. True
b. False

2. The binomial distribution is a discrete distribution that is applied to situations where n independent and
identical “trials” occur, with each trial resulting in a “success” or “failure,” and we want to generate the
random number of successes in the n trials.
a. True
b. False

3. The binomial distribution can be well approximated by the normal distribution whe...
- Exam (elaborations)
- • 31 pages •
1. The three parameters required to specify a triangular distribution are the minimum, mean and maximum.
a. True
b. False

2. The binomial distribution is a discrete distribution that is applied to situations where n independent and
identical “trials” occur, with each trial resulting in a “success” or “failure,” and we want to generate the
random number of successes in the n trials.
a. True
b. False

3. The binomial distribution can be well approximated by the normal distribution whe...
1. Forecasting models can be divided into three groups. They are:
a. time series, optimization, and simulation methods
b. judgmental, extrapolation, and econometric methods
c. judgmental, random, and linear methods
d. linear, non-linear, and extrapolation methods

2. Extrapolation methods attempt to:
a. use non-quantitative methods to predict future values
b. search for patterns in the data and then use those to predict future values
c. find variables that are correlated with the data being pred...
- Exam (elaborations)
- • 35 pages •
1. Forecasting models can be divided into three groups. They are:
a. time series, optimization, and simulation methods
b. judgmental, extrapolation, and econometric methods
c. judgmental, random, and linear methods
d. linear, non-linear, and extrapolation methods

2. Extrapolation methods attempt to:
a. use non-quantitative methods to predict future values
b. search for patterns in the data and then use those to predict future values
c. find variables that are correlated with the data being pred...
1. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an
organization faces the same situation each week, this is referred to as
a. static scheduling problem
b. dynamic scheduling problem
c. transportation scheduling problem
d. All of these options

A meat market manager for a large grocery store is preparing a processing plan to stock the shelves with
sausage, ground meat, and jerky, which he can prepare from beef, pork and venison. Sausag...
- Exam (elaborations)
- • 64 pages •
1. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an
organization faces the same situation each week, this is referred to as
a. static scheduling problem
b. dynamic scheduling problem
c. transportation scheduling problem
d. All of these options

A meat market manager for a large grocery store is preparing a processing plan to stock the shelves with
sausage, ground meat, and jerky, which he can prepare from beef, pork and venison. Sausag...
1. Which of the following is typically not an application of simulation models?
a. Operations models
b. Financial models
c. Marketing models
d. Value of Information models
e. None of these options

2. Bidding for contracts is an example of which of the following types of simulation model application?
a. Operations models
b. Financial models
c. Marketing models
d. Games of chance
e. None of these options

3. Cash balance models are an example of which of the following types of simulation applicat...
- Exam (elaborations)
- • 32 pages •
1. Which of the following is typically not an application of simulation models?
a. Operations models
b. Financial models
c. Marketing models
d. Value of Information models
e. None of these options

2. Bidding for contracts is an example of which of the following types of simulation model application?
a. Operations models
b. Financial models
c. Marketing models
d. Games of chance
e. None of these options

3. Cash balance models are an example of which of the following types of simulation applicat...
1. The null hypothesis usually represents the:
a. theory the researcher would like to prove. b. preconceived ideas of the researcher
c. perceptions of the sample population d. status quo

2. In statistical analysis, the burden of proof lies traditionally with the:
a. alternative hypothesis b. null hypothesis
c. analyst d. facts presented to the statistical analyst

3. The hypothesis that an analyst is trying to prove is called the:
a. elective hypothesis b. alternative hypothesis
c. optional hyp...
- Exam (elaborations)
- • 34 pages •
1. The null hypothesis usually represents the:
a. theory the researcher would like to prove. b. preconceived ideas of the researcher
c. perceptions of the sample population d. status quo

2. In statistical analysis, the burden of proof lies traditionally with the:
a. alternative hypothesis b. null hypothesis
c. analyst d. facts presented to the statistical analyst

3. The hypothesis that an analyst is trying to prove is called the:
a. elective hypothesis b. alternative hypothesis
c. optional hyp...
A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a
mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related
to the customer purchase amounts.
Probability Calculations
P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133,
P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711
Percentiles Calculations
1st Percentile = $9.06, 5th Percentile = $15.20,
95th P...
- Exam (elaborations)
- • 16 pages •
A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a
mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related
to the customer purchase amounts.
Probability Calculations
P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133,
P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711
Percentiles Calculations
1st Percentile = $9.06, 5th Percentile = $15.20,
95th P...
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