BUSINESS ANALYSIS - EXAM 1 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

BUSINESS ANALYSIS - EXAM 1 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS


Question:
Business Analysis
Answer:
a research discipline of identifying business needs and determining solutions
to business problems
Question:
Business Modeling
Answer:
a business model helps managers to explore complex choices using a set of
assumptions to represent alternative future operative environments
Question:
Types of Business Models:
Answer:
1. Physical Models
2. Symbolic Models ~ math formulas ~ language
Question:
Problem Solving Process
Answer:
1. identify what is the problem
2. develop model/acquire data
3. do the results look right? / what is the model telling you?
4. make decision / implement model
Question:
A model is...
Answer:
- an analogy - compares - explains & predicts - recipe
~ a representation of something, but seldom a perfect representation
Question:
Why use models?
Answer:
- make inferences about the real situation by studying and analyzing the
model
- save money
- save time
- aid decision making
Question:
What does this arrow do in excel?
Answer:
to move 1 or more values to a different cell

, Question:
What does this arrow do in excel?
Answer:
bottom right of cell to continue a value or pattern




Question:
What does this arrow do in excel?
Answer:
to block off a bunch of values that you then can: copy, delete, move