Solution Manual for Introduction to Business Analytics, 1st Edition – Vernon Richardson & Marcia Watson – Complete Chapters 1–12 (Verified Solutions Guide)

SOLUTION MANUAL FOR
INTRODUCTION TO BUSINESS ANALYTICS,
1ST EDITION
BY VERNON RICHARDSON AND MARCIA WATSON
VERIFIED CHAPTER'S 1 - 12 | COMPLETE

,TABLE OF CONTENTS vi vi vi




Chapter 1: Specify the Question: Using Business Analytics to Address Business Questions
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Chapter 2: Obtain the Data: An Introduction to Business Data Sources
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Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business Analytics
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Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics and Diagnostic Ana
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lytics)
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Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics and Prescriptive A
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nalytics) vivi




Chapter 6: Report the Results: Using Data Visualization
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Chapter 7: Marketing Analytics
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Chapter 8: Accounting Analytics
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Chapter 9: Financial Analytics
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Chapter 10: Operations Analytics
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Chapter 11: Advanced Business Analytics
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Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone Projects
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, Chapter 1 End-of-Chapter Assignment Solutions
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Multiple Choice Questions vi vi




1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equi
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pment to accomplish aspecific business task is called
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a. business processes vi




b. business analysis vi




c.business procedure vi




d. business value vi




2. (LO 1.2) According to the information value chain, data combined with context is
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a. Information.
b. Knowledge.
c.Insight.
d. Value.

3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to comm
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unicate results to thedecision maker?
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a.Specify the question vi vi




b. Obtain the data vi vi




c.Analyze the data vi vi




d. Report the results vi vi




4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most appropriate
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i data needed to addressthe business question?
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a.Specify the question vi vi




b. Obtain the data vi vi




c.Analyze the data vi vi

, d. Report the results vi vi




5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
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a.What happened? What is happening?
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b. Why did it happen? What are the causes of past results?
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c.Will it happen in the future? What is the probability something will happen?
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Can we forecast whatwill happen?
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d. What should we do, based on what we expect will happen? How do we optimize our
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performance basedon potential constraints? vi vi vi vi




6. (LO 1.5) Which questions seek information on the routing of products from Queretar
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o, Mexico to Chicago,United States in the last quarter?
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a. What happened? What is happening? vi vi vi vi




b. Why did it happen? What are the causes of past results?
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c.Will it happen in the future? What is the probability something will happen? Can we
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vi forecast what willhappen? vi vi vi




d. What should we do, based on what we expect will happen? How do we optimize our
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performance basedon potential constraints? vi vi vi vi