Business Analytics (3rd Edition) by James R. Evans – Test Bank – Chapters 1–16 Complete Practice Questions with Answers

TESTBANK FOR
BUSINESS ANALYTICS 3RD EDITION
By James R. Evans

, Table of Contents ps ps




Chapter 1: Introduction to Business Analytics
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Chapter 1: Appendix A1 Basic Excel Skills
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Chapter 2: Database Analytics
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Chapter 3: Data Visualization
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Chapter 4: Descriptive Statistics
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Chapter 5: Probability Distributions and Data Modeling
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Chapter 6: Sampling and Estimation
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Chapter 7: Statistical Inference
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Chapter 8: Trendlines and Regression Analysis
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Chapter 9: Forecasting Techniques
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Chapter 10 Introduction to Data Mining
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Chapter 11 Spreadsheet Modeling and Analysis
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Chapter 12 Simulation and Risk Analysis
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Chapter 13 Linear Optimization
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Chapter 14 Integer and Nonlinear Optimization Models
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Chapter 15 Optimization Analytics
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Chapter 16 Decision Analysis
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,Chapter 1: Introduction to Business Analytics ps p s ps ps ps




1) Descriptive analytics: ps




A) can predict risk and find relationships in data not readily apparent with traditional analys
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es.
B) helps companies classify their customers into segments to develop specifi
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c marketing campaigns.
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C) helps detect hidden patterns in large quantities of data to group data
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into sets to predict behavior.
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D) can use mathematical techniques with optimization to make decisions that take
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into account the uncertainty in the data.
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ANSWER: B ps ps




Diff: 1 ps




Blooms: Remember p s




Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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2) A manager at Gampco Inc. wishes to know the company's revenue
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and profit in its previous quarter. Which of the following business ana
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lytics will help the manager?
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A) prescriptive analytics ps




B) normative analytics ps




C) descriptive analytics ps




D) predictive analytics ps




ANSWER: C ps p




Diff: 1
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Blooms: p s Apply AACSB: ps




Analytic Skills ps




Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
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3) Predictive analytics: ps




A) summarizes data into meaningful charts and reports that can be standardized or customi
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, zed.
B) identifies the best alternatives to minimize or maximize an objective.
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C) uses data to determine a course of action to be executed in a given situation.
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D) detects patterns in historical data and extrapolates them f
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orward in time. ANSWER: D
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Diff: 2
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Blooms: Remember p s




Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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1