Business Analytics: Data Analysis and Decision Making, 6th Edition Test Bank | Albright & Winston | Complete Business Analytics Exam Prep

Business Analytics: Data Analysis and
Decision Making, 6th Edition
Complete Test Bank | Business Analytics
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,Test Bank Business Analytics Data Analysis and Decision Making 6th complete exam
questions and answers Chapter 1-20



1. The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include which of the
following?
a. optimization techniques b. decision analysis with uncertainty
c. structured sensitivity analysis d. all of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1-2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making

2. Which statement is not true?
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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 using the normal probability distribution.
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d. Dealing with uncertainty requires a basic understanding of probability.
ANSWER: c
POINTS: 1
SE s
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
a. data analysis b. dealing with uncertainty
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c. decision making d. data mining
ANSWER: d
POINTS: 1
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DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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4. Data analysis includes:
a. data description b. data inference
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c. the search for relationships in data d. all of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

5. Which of the following is not one of the steps in the modeling process?
a. Select the scale for the model.
b. Collect and summarize data.
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, c. Verify the model.
d. Present the results.
e. Implement the model and update it through time.
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

6. Which of the following would not be included under data analysis?
a. measuring uncertainty b. data description
c. data inference d. search for relationships
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ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
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TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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7. The decision making process includes:
a. optimization techniques for problems with no uncertainty
b. decision analysis for problems with uncertainty
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c. sensitivity analysis
d. all of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
D ch
OTHER: BUSPROG: Analytic | DISC: Decision Making

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8. Which tool is an Excel add-in for performing what-if analyses?
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a. PrecisionTree
b. TopRank
c. Solver
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d. @Risk
e. StatTools
ANSWER: b
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POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

9. Which of the following statements are true?
a. Three important themes run through the book: data analysis, decision making, and uncertainty.
b. Data analysis includes data description, data inference, and the searching for relationships in data
c. Decision making includes optimization techniques for problems with no uncertainty, decision analysis for
problems with uncertainty, and structured sensitivity analysis.
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, d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the analysis.
e. All of these statements are true.
ANSWER: e
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

10. Data analysis includes data description, data inference, and the search for relationships in data.
a. True
b. False
ANSWER: True
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POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making

11. Decision-making includes optimization techniques for problems with certainty, decision analysis for problems with
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certainty, and structured sensitivity analysis.
a. True
b. False
ANSWER: False
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POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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12.
A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
that companies currently encounter.
a. True
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b. False
ANSWER: False
POINTS: 1
C la
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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13. Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis,
decision-making, and dealing with uncertainty.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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