EBTM 350 - CHAPTER 1 QUIZ QUESTIONS WITH
VERIFIED ANSWERS
Which of the following is not a challenge faced by organizations that want to develop
analytics capabilities?
A. profitability and customer satisfaction
B. competing business priorities
C. a lack of understanding of how to use analytics
D. difficulty in getting good data and sharing information - Answers - A. profitability and
customer satisfaction
What does business analytics use to help managers make better decisions?
A. statistical analysis and quantitative methods
B. mathematical or computer-based models
C. data and information technology
D. all of the above - Answers - D. all of the above
True or False:
A deterministic model is one in which all model input information is either known or
assumed to be known with certainty. - Answers - True
Which of the following statements is correct about prescriptive analytics?
A. Prescriptive analytics uses data to determine a course of action to be executed in a
given situation.
B. Prescriptive analytics detects patterns in historical data and extrapolates them
forward in time.
C. Prescriptive analytics identifies patterns and relationships existing in large data sets.
D. Prescriptive analytics summarizes data into meaningful charts and reports that can
be standardized or customized. - Answers - A. Prescriptive analytics uses data to
determine a course of action to be executed in a given situation.
Which of the following statements is correct about descriptive analytics?
A. Descriptive analytics helps companies classify their customers into segments to
develop specific marketing campaigns.
B. Descriptive analytics can predict risk and find relationships in data not readily
apparent with traditional analyses.
C. Descriptive analytics helps detect hidden patterns in large quantities of data to group
data into sets to predict behavior.
VERIFIED ANSWERS
Which of the following is not a challenge faced by organizations that want to develop
analytics capabilities?
A. profitability and customer satisfaction
B. competing business priorities
C. a lack of understanding of how to use analytics
D. difficulty in getting good data and sharing information - Answers - A. profitability and
customer satisfaction
What does business analytics use to help managers make better decisions?
A. statistical analysis and quantitative methods
B. mathematical or computer-based models
C. data and information technology
D. all of the above - Answers - D. all of the above
True or False:
A deterministic model is one in which all model input information is either known or
assumed to be known with certainty. - Answers - True
Which of the following statements is correct about prescriptive analytics?
A. Prescriptive analytics uses data to determine a course of action to be executed in a
given situation.
B. Prescriptive analytics detects patterns in historical data and extrapolates them
forward in time.
C. Prescriptive analytics identifies patterns and relationships existing in large data sets.
D. Prescriptive analytics summarizes data into meaningful charts and reports that can
be standardized or customized. - Answers - A. Prescriptive analytics uses data to
determine a course of action to be executed in a given situation.
Which of the following statements is correct about descriptive analytics?
A. Descriptive analytics helps companies classify their customers into segments to
develop specific marketing campaigns.
B. Descriptive analytics can predict risk and find relationships in data not readily
apparent with traditional analyses.
C. Descriptive analytics helps detect hidden patterns in large quantities of data to group
data into sets to predict behavior.
