MSIS 3223 - Exam 1 (Chapters 1-4) – Q’s and A’s
Descriptive analytics helps detect hidden patterns in large quantities of data to group data
unto sets to predict behavior. - -False.
-A manager at Academy wishes to know the company's revenue and profit in its previous
quarter. Predictive analytics is what the manager should use for this task. - -False.
-Prescriptive analytics can help a company address the best way of shipping goods from
their factories to minimize costs. - -True.
-Analyzing the problem is the first phase in decision making. - -False.
-A deterministic model is one in which all model input information is wither known or
assumed to be known with certainty. - -True.
-The demand for professionals with analytics expertise has skyrocketed. - -True.
-Modern business analytics can be viewed as an integration of Business Intelligence,
Information Systems, statistics, and modeling and optimization. - -True.
-Statistics has a long rich history, yet only rather recently has it been recognized as an
important element of business, driven to a large extent by the massive growth of data in
today's world. - -True.
-Decision models typically have three types of input: Data, Uncontrollable Inputs, and
Decision Options. - -True.
-A body weight scale is used to weigh patients in a clinic, but it reads weights one pound
below the true value. Which of the following is true about the data collected by this scale? -
-Data are valid.
-AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions are
true and FALSE if not. - -True.
-The Pareto principle is often called the "80--20 rule." - -True.
-The filter tool extracts records meeting the specified criteria, deleting any records that
don't match the criteria. - -False.
-Three useful logical functions in business analytics applications are IF, AND, and OR
followed by conditions in parentheses. - -True.
-Form controls are buttons, boxes, and other mechanisms for inputting or changing data
on spreadsheets easily and used to design user-friendly spreadsheets. - -True.
Descriptive analytics helps detect hidden patterns in large quantities of data to group data
unto sets to predict behavior. - -False.
-A manager at Academy wishes to know the company's revenue and profit in its previous
quarter. Predictive analytics is what the manager should use for this task. - -False.
-Prescriptive analytics can help a company address the best way of shipping goods from
their factories to minimize costs. - -True.
-Analyzing the problem is the first phase in decision making. - -False.
-A deterministic model is one in which all model input information is wither known or
assumed to be known with certainty. - -True.
-The demand for professionals with analytics expertise has skyrocketed. - -True.
-Modern business analytics can be viewed as an integration of Business Intelligence,
Information Systems, statistics, and modeling and optimization. - -True.
-Statistics has a long rich history, yet only rather recently has it been recognized as an
important element of business, driven to a large extent by the massive growth of data in
today's world. - -True.
-Decision models typically have three types of input: Data, Uncontrollable Inputs, and
Decision Options. - -True.
-A body weight scale is used to weigh patients in a clinic, but it reads weights one pound
below the true value. Which of the following is true about the data collected by this scale? -
-Data are valid.
-AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions are
true and FALSE if not. - -True.
-The Pareto principle is often called the "80--20 rule." - -True.
-The filter tool extracts records meeting the specified criteria, deleting any records that
don't match the criteria. - -False.
-Three useful logical functions in business analytics applications are IF, AND, and OR
followed by conditions in parentheses. - -True.
-Form controls are buttons, boxes, and other mechanisms for inputting or changing data
on spreadsheets easily and used to design user-friendly spreadsheets. - -True.
