Business Analytics Data Analysis and Decision Making, Albright - Exam Preparation Test Bank (Downloadable Doc)

1. The decision-making themes covered in Business Analytics: Data Analysis & Decision
Making include which of the following?
a. optimization techniques b. decision analysis with uncertainty

c. structured sensitivity analysis d. all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1-2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



2. Which statement is not true?
a. Dealing with uncertainty includes measuring uncertainty.

b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.

c. Dealing with uncertainty includes eliminating uncertainty by using the normal
probability distribution.
d. Dealing with uncertainty requires a basic understanding of probability.

ANSWER: c

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision
Making text?
a. data analysis b. dealing with uncertainty

c. decision making d. data mining

ANSWER: d

,POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



4. Data analysis includes:
a. data description b. data inference

c. the search for relationships in data d. all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



5. Which of the following is not one of the steps in the modeling process?
a. Select the scale for the model.

b. Collect and summarize data.

c. Verify the model.

d. Present the results.

e. Implement the model and update it through time.

ANSWER: a

POINTS: 1

DIFFICULTY: Easy | Bloom's: Comprehension

TOPICS: A-Head: 1.2 Overview of the Book

,OTHER: BUSPROG: Analytic | DISC: Decision Making



6. Which of the following would not be included under data analysis?
a. measuring uncertainty b. data description

c. data inference d. search for relationships

ANSWER: a

POINTS: 1

DIFFICULTY: Easy | Bloom's: Comprehension

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



7. The decision making process includes:
a. optimization techniques for problems with no uncertainty

b. decision analysis for problems with uncertainty

c. sensitivity analysis

d. all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



8. Which tool is an Excel® add-in for performing what-if analyses?
a. PrecisionTree

b. TopRank

, c. Solver

d. @Risk

e. StatTools

ANSWER: b

POINTS: 1

DIFFICULTY: Easy | Bloom's: Comprehension

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



9. Which of the following statements are true?
a. Three important themes run through the book: data analysis, decision making, and
uncertainty.
b. Data analysis includes data description, data inference, and the searching for
relationships in data
c. Decision making includes optimization techniques for problems with no uncertainty,
decision analysis for problems with uncertainty, and structured sensitivity analysis.
d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty
explicitly into the analysis.
e. All of these statements are true.

ANSWER: e

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge

TOPICS: A-Head: 1.2 Overview of the Book

OTHER: BUSPROG: Analytic | DISC: Decision Making



10. Data analysis includes data description, data inference, and the search for relationships in data.
a. True

b. False