EBTM 350 CH1 QUESTIONS WITH VERIFIED
ANSWERS
Discuss how one might use business analytics in their personal life.
Select all that apply.
A. A golf player might use statistics to help to diagnose problems and improve their
game.
B. An automobile owner can predict when the next maintenance will be due by
recording things such as the miles driven and gas mileage. This would help them
budget accordingly.
C. A store might keep track of inventory and use it to decide what items are in demand.
D. A reporter could analyze social media posts to see what types of people are more
likely to share unverified news stories. - Answers - All of the above (A,B,C, and D)
A supermarket has been experiencing long lines during peak periods of the day. The
problem is noticeably worse on certain days of the week, and the peak periods
sometimes differ according to the day of the week. There are usually enough workers
on the job to open all cash registers. The problem the supermarket manager faces is
knowing when to call some of the workers who are stocking shelves up to the front to
work the checkout counters. Use this information to answer the given questions.
How might business analytics help the supermarket manager? Select all that apply.
A. The manager can use analytics to schedule the minimum necessary or predicted
number of workers for cash registers in order to ensure that none of the cash registers
are idle.
B. A model might be developed to find the number of checkout counters to open to
ensure a reasonable wait time or maximize customer throughput.
C. A model can be developed t - Answers - B, C, D, and E all relate to the problem
A does not relate to the problem as minimizing workers and idling registers are not
related to calling workers to work registers.
A supermarket has been experiencing long lines during peak periods of the day. The
problem is noticeably worse on certain days of the week, and the peak periods
sometimes differ according to the day of the week. There are usually enough workers
on the job to open all cash registers. The problem the supermarket manager faces is
knowing when to call some of the workers who are stocking shelves up to the front to
work the checkout counters. Use this information to answer the given questions.
What data would be needed when developing the model to facilitate good decisions?
Select all that apply.
, A.Number of customers served per hour
B. Day of the week
C. Time of day
D. Customer height - Answers - A, B, and C all relate to the problem.
D does not relate to the problem.
The chief financial officer for a small manufacturing firm would like to estimate the net
profit that the firm could expect over the next three years. Which analytics tools would
most likely be used for this scenario?
A. Descriptive
B. Prescriptive
C. Predictive - Answers - C. Predictive (estimate future profit)
A human resource manager needs to understand whether the company's current
employee mix has the skills and capabilities needed to achieve the goals laid out by a
new strategic plan. Which analytics tools would most likely be used for this scenario?
A. Prescriptive
B. Descriptive
C. Predictive - Answers - B. Descriptive (use current/historical data to ifnd
relationships/trends)
A financial advisor would like to develop the best mix of stocks, bonds, and other
investments for a client to achieve a comfortable level of risk. Which analytics tools
would most likely be used for this scenario?
A. Descriptive
B. Prescriptive
C. Predictive - Answers - Prescriptive (best option)
A large service firm wishes to determine how to invest the cash received from its
financial product to achieve the best return. Which analytics tools would most likely be
used for this scenario?
A. Descriptive
B. Predictive
C. Prescriptive - Answers - Prescriptive (best return)
A logistics company wants to better understand the relative profitability of its numerous
customers over the past three years. Which analytics tools would most likely be used for
this scenario?
A. Predictive
B. Prescriptive
C. Descriptive - Answers - C. Descriptive (past three years=historical data)
A disaster relief agency needs to allocate its budget for the next year among various
relief efforts and programs. Which analytics tools would most likely be used for this
scenario?
ANSWERS
Discuss how one might use business analytics in their personal life.
Select all that apply.
A. A golf player might use statistics to help to diagnose problems and improve their
game.
B. An automobile owner can predict when the next maintenance will be due by
recording things such as the miles driven and gas mileage. This would help them
budget accordingly.
C. A store might keep track of inventory and use it to decide what items are in demand.
D. A reporter could analyze social media posts to see what types of people are more
likely to share unverified news stories. - Answers - All of the above (A,B,C, and D)
A supermarket has been experiencing long lines during peak periods of the day. The
problem is noticeably worse on certain days of the week, and the peak periods
sometimes differ according to the day of the week. There are usually enough workers
on the job to open all cash registers. The problem the supermarket manager faces is
knowing when to call some of the workers who are stocking shelves up to the front to
work the checkout counters. Use this information to answer the given questions.
How might business analytics help the supermarket manager? Select all that apply.
A. The manager can use analytics to schedule the minimum necessary or predicted
number of workers for cash registers in order to ensure that none of the cash registers
are idle.
B. A model might be developed to find the number of checkout counters to open to
ensure a reasonable wait time or maximize customer throughput.
C. A model can be developed t - Answers - B, C, D, and E all relate to the problem
A does not relate to the problem as minimizing workers and idling registers are not
related to calling workers to work registers.
A supermarket has been experiencing long lines during peak periods of the day. The
problem is noticeably worse on certain days of the week, and the peak periods
sometimes differ according to the day of the week. There are usually enough workers
on the job to open all cash registers. The problem the supermarket manager faces is
knowing when to call some of the workers who are stocking shelves up to the front to
work the checkout counters. Use this information to answer the given questions.
What data would be needed when developing the model to facilitate good decisions?
Select all that apply.
, A.Number of customers served per hour
B. Day of the week
C. Time of day
D. Customer height - Answers - A, B, and C all relate to the problem.
D does not relate to the problem.
The chief financial officer for a small manufacturing firm would like to estimate the net
profit that the firm could expect over the next three years. Which analytics tools would
most likely be used for this scenario?
A. Descriptive
B. Prescriptive
C. Predictive - Answers - C. Predictive (estimate future profit)
A human resource manager needs to understand whether the company's current
employee mix has the skills and capabilities needed to achieve the goals laid out by a
new strategic plan. Which analytics tools would most likely be used for this scenario?
A. Prescriptive
B. Descriptive
C. Predictive - Answers - B. Descriptive (use current/historical data to ifnd
relationships/trends)
A financial advisor would like to develop the best mix of stocks, bonds, and other
investments for a client to achieve a comfortable level of risk. Which analytics tools
would most likely be used for this scenario?
A. Descriptive
B. Prescriptive
C. Predictive - Answers - Prescriptive (best option)
A large service firm wishes to determine how to invest the cash received from its
financial product to achieve the best return. Which analytics tools would most likely be
used for this scenario?
A. Descriptive
B. Predictive
C. Prescriptive - Answers - Prescriptive (best return)
A logistics company wants to better understand the relative profitability of its numerous
customers over the past three years. Which analytics tools would most likely be used for
this scenario?
A. Predictive
B. Prescriptive
C. Descriptive - Answers - C. Descriptive (past three years=historical data)
A disaster relief agency needs to allocate its budget for the next year among various
relief efforts and programs. Which analytics tools would most likely be used for this
scenario?
