CHAPTER 7 LINEAR REGRESSION FOCUS
BUSINESS ANALYTICS TEST BANK | 40+ VERIFIED
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and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
for their respective careers.________________________________________1. Business Exams1.1. Overview of Business EducationBusiness education prepares students
1. The decisions concerning an organization’s goals and future plans are called a financial decision.
b. tactical decisions.
c. strategic decisions.
d. operational decisions.
Corr Ans: C
2. Tactical decisions define:
a. the day-to-day activities of the organization.
b. the goals and plans of the organization.
c. the domain of operations managers, who are close to the customer.
d. the steps taken to achieve the goals and objectives.
Corr Ans: D
3. Picks and Axes Inc. is an Internet-based retail seller of hiking boots and mountaineering gear. The
company decides to open retail stores across the major areas of the city to help complement its
Internet-based strategy. This activity would be categorized as a(n)
a. tactical decision.
b. operational decision.
c. strategic decision.
d. financial decision.
Corr Ans: C
4. is the most critical step in a decision making process.
a. Choosing an alternative
b. Identifying and defining the problem
c. Evaluating the alternatives
d. Determining the set of alternatives
Corr Ans: B
5. Firms guided by data-driven decision making have
a. higher market value.
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, b. lower productivity.
c. higher risk.
d. lower profit.
Corr Ans: A
and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
6. A manager wishes to know his company revenue and profit in its previous quarter. Which of the
following business analytics will help the manager?
a. Predictive analytics
b. Descriptive analytics
c. Prescriptive analytics
d. Decision analysis Corr
Ans: B for their respective
careers.________________________________________1. Business Exams1.1.
Overview of Business EducationBusiness education prepares students
7. Information on the number of shipments, how much was included in each shipment, the date each
shipment was sent, and so on extracted from the manufacturing plant’s database refers to . a.
spreadsheet models
b. data dashboards
c. data mining
d. data query
Corr Ans: D
8. Corporate-level managers use to summarize sales by region, current inventory levels, and
other company-wide metrics all in a single screen.
a. simulation
b. cross tabulation
c. data dashboards
d. tables
Corr Ans: C
9. The use of helps in constructing a mathematical model to estimate the future sales, based on
past data.
a. Predictive analytics
b. Decision analysis
c. Prescriptive analytics
d. Descriptive analytics
Corr Ans: A
10. Which of the following techniques belongs to predictive analytics?
a. Decision analysis
b. Linear regression
c. Data visualization
d. Optimization models
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, Corr Ans: B
11. 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 some quantity of interest
c. uses data to determine the best course of action to be executed in a given situation
d. detects patterns in historical data and extrapolates them forward in time
Corr Ans: D
and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
12. Which of the following analytical techniques helps us in arriving at the best decision? a. Predictive
analytics
b. Data mining
c. Prescriptive analytics
d. Descriptive analytics
Corr Ans: C
13. Supply network design models provide the cost-minimizing plant and distribution center locations
subject to meeting the customer service requirements. These models are referred as
a. Optimization models.
b. Forecasting models.
c. Data mining models.
d. Network models.
Corr Ans: A
:
14. Walmart handles over one million purchase transactions per hour. Although the data represents
opportunities,
a. it also presents analytical challenges from a processing point of view.
b. it can be processed, or analyzed in a reasonable amount of time.
c. it has itself led to a decrease in the use of analytics.
d. it seldom has valuable applications of analytics.
Corr Ans: A
15. Which of the following examples best describes big data?
a. Facebook processes one thousand picture uploads per day.
b. Five hundred cell-phone owners around the world generate vast amounts of data by calling,
texting, tweeting and browsing the web on a daily basis.
c. The amount of data created every 48 hours is equivalent to the entire amount of data created
from the dawn of civilization until the year 2003.
d. Walmart handles hundreds purchase transactions per hour
Corr Ans: C
16. In a financial sector, we use to construct financial instruments such as derivatives.
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, a. descriptive and prescriptive models
b. predictive models
c. descriptive models
d. prescriptive models
Corr Ans: B
17. In order to manage an organization’s human resource activities such as employee hiring, tracking and
influencing employee retention, the HR personnel use .
a. descriptive and predictive analytics
b. prescriptive analytics
c. predictive and prescriptive analytics
d. predictive analytics Corr
Ans: A for their respective
careers.________________________________________1. Business Exams1.1. Overview of
Business and MathematicsIn recent years, there has been a growing movement towards
reforming traditional exam formats in favor of more holistic assessment methods. This is
particularly true in business and law, where practical skills like teamwork, negotiation, and
communication are becoming increasingly important.7.1. Business Exams: Emphasis on
Real-World ApplicationFuture business exams may shift towards more experiential learning
formats, such as simulations, interactive case studies, or project-based assessments. These
methods can better replicate the conditions of the modern business environment, where
decision-making often requires collaboration, creativity, and adaptability. Digital tools and
platforms that offer real-time feedback and interactive elements may become more common
in business exams.7.2. Law Exams: Integrating Technology and Legal PracticeFor law
exams, the use of technology is increasingly being integrated into the assessment process.
Online exams, digital research tools, and case management software couldEducationBusiness
education prepares students
18. A better understanding of consumer behavior through analytics leads to a(n):
a. decrease in demand.
b. assured increase in sales.
c. more effective pricing strategies.
d. poor customer satisfaction.
Corr Ans: C
19. A children’s apparel manufacturer used descriptive analytics:
a. to present supply chain to managers visually.
b. to achieve efficiency in delivery of goods.
c. to schedule staff and vehicle for delivery.
d. to plan capacity utilization by incorporating the inherent uncertainty in commodities pricing.
Corr Ans: A
20. The U.S. Internal Revenue Service uses to identify patterns that differentiate questionable
annual personal income tax filings.
a. utility theory
b. prescriptive analytics
c. data mining
d. decision analysis
Corr Ans: C
21. Web sites and social media sites use descriptive and advanced analytics to data collected in online
Medboost stuvia
BUSINESS ANALYTICS TEST BANK | 40+ VERIFIED
MCQS +
and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
for their respective careers.________________________________________1. Business Exams1.1. Overview of Business EducationBusiness education prepares students
1. The decisions concerning an organization’s goals and future plans are called a financial decision.
b. tactical decisions.
c. strategic decisions.
d. operational decisions.
Corr Ans: C
2. Tactical decisions define:
a. the day-to-day activities of the organization.
b. the goals and plans of the organization.
c. the domain of operations managers, who are close to the customer.
d. the steps taken to achieve the goals and objectives.
Corr Ans: D
3. Picks and Axes Inc. is an Internet-based retail seller of hiking boots and mountaineering gear. The
company decides to open retail stores across the major areas of the city to help complement its
Internet-based strategy. This activity would be categorized as a(n)
a. tactical decision.
b. operational decision.
c. strategic decision.
d. financial decision.
Corr Ans: C
4. is the most critical step in a decision making process.
a. Choosing an alternative
b. Identifying and defining the problem
c. Evaluating the alternatives
d. Determining the set of alternatives
Corr Ans: B
5. Firms guided by data-driven decision making have
a. higher market value.
Medboost stuvia
, b. lower productivity.
c. higher risk.
d. lower profit.
Corr Ans: A
and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
6. A manager wishes to know his company revenue and profit in its previous quarter. Which of the
following business analytics will help the manager?
a. Predictive analytics
b. Descriptive analytics
c. Prescriptive analytics
d. Decision analysis Corr
Ans: B for their respective
careers.________________________________________1. Business Exams1.1.
Overview of Business EducationBusiness education prepares students
7. Information on the number of shipments, how much was included in each shipment, the date each
shipment was sent, and so on extracted from the manufacturing plant’s database refers to . a.
spreadsheet models
b. data dashboards
c. data mining
d. data query
Corr Ans: D
8. Corporate-level managers use to summarize sales by region, current inventory levels, and
other company-wide metrics all in a single screen.
a. simulation
b. cross tabulation
c. data dashboards
d. tables
Corr Ans: C
9. The use of helps in constructing a mathematical model to estimate the future sales, based on
past data.
a. Predictive analytics
b. Decision analysis
c. Prescriptive analytics
d. Descriptive analytics
Corr Ans: A
10. Which of the following techniques belongs to predictive analytics?
a. Decision analysis
b. Linear regression
c. Data visualization
d. Optimization models
Medboost stuvia
, Corr Ans: B
11. 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 some quantity of interest
c. uses data to determine the best course of action to be executed in a given situation
d. detects patterns in historical data and extrapolates them forward in time
Corr Ans: D
and MathematicsIn recent years, there has been a growing movement towards reforming traditional exam formats in favor of more holistic assessment methods. This is particularly true in business and law, where
practical skills like teamwork, negotiation, and communication are becoming increasingly important.7.1. Business Exams: Emphasis on Real-World ApplicationFuture business exams may shift towards more
experiential learning formats, such as simulations, interactive case studies, or project-based assessments. These methods can better replicate the conditions of the modern business environment, where decision-making
often requires collaboration, creativity, and adaptability. Digital tools and platforms that offer real-time feedback and interactive elements may become more common in business exams.7.2. Law Exams: Integrating
Technology and Legal PracticeFor law exams, the use of technology is increasingly being integrated into the assessment process. Online exams, digital research tools, and case management software could
12. Which of the following analytical techniques helps us in arriving at the best decision? a. Predictive
analytics
b. Data mining
c. Prescriptive analytics
d. Descriptive analytics
Corr Ans: C
13. Supply network design models provide the cost-minimizing plant and distribution center locations
subject to meeting the customer service requirements. These models are referred as
a. Optimization models.
b. Forecasting models.
c. Data mining models.
d. Network models.
Corr Ans: A
:
14. Walmart handles over one million purchase transactions per hour. Although the data represents
opportunities,
a. it also presents analytical challenges from a processing point of view.
b. it can be processed, or analyzed in a reasonable amount of time.
c. it has itself led to a decrease in the use of analytics.
d. it seldom has valuable applications of analytics.
Corr Ans: A
15. Which of the following examples best describes big data?
a. Facebook processes one thousand picture uploads per day.
b. Five hundred cell-phone owners around the world generate vast amounts of data by calling,
texting, tweeting and browsing the web on a daily basis.
c. The amount of data created every 48 hours is equivalent to the entire amount of data created
from the dawn of civilization until the year 2003.
d. Walmart handles hundreds purchase transactions per hour
Corr Ans: C
16. In a financial sector, we use to construct financial instruments such as derivatives.
Medboost stuvia
, a. descriptive and prescriptive models
b. predictive models
c. descriptive models
d. prescriptive models
Corr Ans: B
17. In order to manage an organization’s human resource activities such as employee hiring, tracking and
influencing employee retention, the HR personnel use .
a. descriptive and predictive analytics
b. prescriptive analytics
c. predictive and prescriptive analytics
d. predictive analytics Corr
Ans: A for their respective
careers.________________________________________1. Business Exams1.1. Overview of
Business and MathematicsIn recent years, there has been a growing movement towards
reforming traditional exam formats in favor of more holistic assessment methods. This is
particularly true in business and law, where practical skills like teamwork, negotiation, and
communication are becoming increasingly important.7.1. Business Exams: Emphasis on
Real-World ApplicationFuture business exams may shift towards more experiential learning
formats, such as simulations, interactive case studies, or project-based assessments. These
methods can better replicate the conditions of the modern business environment, where
decision-making often requires collaboration, creativity, and adaptability. Digital tools and
platforms that offer real-time feedback and interactive elements may become more common
in business exams.7.2. Law Exams: Integrating Technology and Legal PracticeFor law
exams, the use of technology is increasingly being integrated into the assessment process.
Online exams, digital research tools, and case management software couldEducationBusiness
education prepares students
18. A better understanding of consumer behavior through analytics leads to a(n):
a. decrease in demand.
b. assured increase in sales.
c. more effective pricing strategies.
d. poor customer satisfaction.
Corr Ans: C
19. A children’s apparel manufacturer used descriptive analytics:
a. to present supply chain to managers visually.
b. to achieve efficiency in delivery of goods.
c. to schedule staff and vehicle for delivery.
d. to plan capacity utilization by incorporating the inherent uncertainty in commodities pricing.
Corr Ans: A
20. The U.S. Internal Revenue Service uses to identify patterns that differentiate questionable
annual personal income tax filings.
a. utility theory
b. prescriptive analytics
c. data mining
d. decision analysis
Corr Ans: C
21. Web sites and social media sites use descriptive and advanced analytics to data collected in online
Medboost stuvia
