Chapter m m 01 m
m–
Solution Manual for Introduction to Business Analytics,
po po po po po po po
1st Edition
po
By Vernon Richardson and Marcia Watson
po po po po po
Verified Chapter's 1 - 12 | Complete
po po po po po po
, Chapter m m 01 m
m–
TABLE OF CONTENTS m m
Chapter 1: Specifym m them m Question:m m Usingm m Businessm m Analyticsm m to m m Addressm m Businessm m Ques
tions
Chapter 2: Obtainm m them m Data:m m Anm m Introductionm m to m m Businessm m Datam m Sources
Chapter m m 3:m m Analyzem m them m Data:m m Basicm m Statisticsm m andm m Toolsm m Requiredm m inm m Businessm m Analytics
Chapter m 4:m Analyzem them Data:m Exploratorym Businessm Analyticsm (Descriptivem Analyticsm andm Diagnostic
mAnalytics)
Chapter m 5:m Analyzem them Data:m Confirmatorym Businessm Analyticsm (Predictivem Analyticsm andm Prescr
iptivm em Analytics)
Chapter 6: Reportm m them m Results:m m Usingm m Datam m Visualization
Chapter 7: Marketingm m Analytics
Chapter 8: Accountingm m Analytics
Chapter 9: Financialm m Analytics
Chapter 10: Operationsm m Analytics
Chapter 11: Advancedm m Businessm m Analytics
Chapter 12: Usingm m them m SOARm m Analyticsm m Modelm m to m m Putm m Itm m Allm m Together:m m Threem m Capstonem m P
rojects
, Chapter m m 01 m
m–
Chapter 1 End-of-Chapter Assignment Solutions
m m m m
Multiple m m Choice m m Questions
1. (LOm 1.1) m Am coordinated,m standardizedm setm ofm activitiesm conductedm bym bothm people m andm equi
pme mntm tom accomplishm am specificm businessm taskm ism called.
a. businessm m processes
b. businessm m analysis
c. businessm m procedure
d. businessm m value
2. (LOm 1.2) m m Accordingm m tom m the m m informationm value m m chain,m m datam m combinedm m withm m contextm m is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LOm m 1.5) m Whichm phasem ofm the m SOARm analyticsm modelm addressesm them properm waym tom co
mmunmicate m resultsm tom the m decisionm maker?
a. Specifym m the m m question
b. Obtainm m the m m data
c. Analyze m m the m m data
d. Reportm m the m m results
4. (LOm 1.5) m Whichm phasem ofm the m SOARm analyticsm modelm involvesm findingm the m mostm appropriate
m datam needed m tom address m the m business m question?
a. Specifym m the m m question
b. Obtainm m the m m data
c. Analyze m m the m m data
d. Reportm m the m m results
5. (LOm m 1.5) m m Whichm m questionsm m seekm m informationm m aboutm m Tesla’sm m salesm m inm m the m m nextm m quarter?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm the m future?m Whatm ism the m probabilitym somethingm willm happen?
m Canm we m forecastm whatm will m happen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
6. (LOm 1.5) m Whichm questionsm seekm informationm onm them routingm ofm productsm fromm Queretar
o,m Mmexicom tom Chicago,m Unitedm Statesm inm the m lastm quarter?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym m somethingm willm happen?m C
anm wm e m forecastm whatm willmhappen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
, Chapter m m 01 m
m–
7. (LOm 1.5) m Whichm questionsm askm whym netm incomem ism increasingm whenm revenuesm are
m decrmeasing,m counterm tomexpectations?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m ofm m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym somethingm willm happen?m Ca
nm wm e m forecastm whatm willmhappen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
8. (LOm 1.5) m Whichm questionsm helpm managersm understandm howm tom organizem future m shipments
m bam sedm onm expected m demand?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym m somethingm willm happen?m C
anm wm e m forecastm whatm willmhappen?
d. Whatm m shouldm m we m m do,m basedm m onm m whatm m wem expectm m willm m happen?m m Howm m dom m wem
m optimizm e m ourm performance m basedm onm potential m constraints?
9. (LOm m 1.5) m Whichm termm refersm tom the m combinedm accuracy,m validity,m andm consistencym of m data
m stom redm andm used m overm time?
a. Datam m integrity
b. Datam m overload
c. Datam m value
d. Informationm value
10. (LOm m 1.3) m m Am m specialistm m whom m knowsm m howm m tom m workm m with,m m manipulate,m m andm m statisticallym m testm m data
m m ism m a
a. decisionm m maker.
b. datam m scientist.
c. datam m analyst.
d. decisionm m scientist.
11. (LOm m 1.4) m Whichm typem ofm analystsm predictsm the m amountm ofm moneym thatm am companym willm rece
ive m fmromm itsm customersm tom helpm managementm evaluate m futurem investmentsm basedm onm expected
m investme m ntm performance, m suchm asm investments m inm equipmentm orm employee m training?
a. Marketingm m analyst
b. Operationsm m analyst
c. Financialm m analyst
d. Accountingm analyst
12. (LOm 1.4) m m Whichm type m m ofm analystm m addressesm m questionsm m regardingm m tax m m andm m auditing?
a. Marketingm m analyst
b. Operationsm m analyst
c. Financialm m analyst
d. Accountingm analyst
13. (LOm m 1.5) m Supposem am companym hasm timelym productm reviewsm thatm are m available m whenm ne
eded,mbutm the m reviewsm are m biased.m These m productm reviewsm are m whichm type m of m data?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©m McGrawm Hillm LLC.m m Allm rights m reserved. m No m reproductionm or m m distributionm withoutm them prior m writtenm cons
entm of m Mcm Grawm Hillm LLC.
4
m–
Solution Manual for Introduction to Business Analytics,
po po po po po po po
1st Edition
po
By Vernon Richardson and Marcia Watson
po po po po po
Verified Chapter's 1 - 12 | Complete
po po po po po po
, Chapter m m 01 m
m–
TABLE OF CONTENTS m m
Chapter 1: Specifym m them m Question:m m Usingm m Businessm m Analyticsm m to m m Addressm m Businessm m Ques
tions
Chapter 2: Obtainm m them m Data:m m Anm m Introductionm m to m m Businessm m Datam m Sources
Chapter m m 3:m m Analyzem m them m Data:m m Basicm m Statisticsm m andm m Toolsm m Requiredm m inm m Businessm m Analytics
Chapter m 4:m Analyzem them Data:m Exploratorym Businessm Analyticsm (Descriptivem Analyticsm andm Diagnostic
mAnalytics)
Chapter m 5:m Analyzem them Data:m Confirmatorym Businessm Analyticsm (Predictivem Analyticsm andm Prescr
iptivm em Analytics)
Chapter 6: Reportm m them m Results:m m Usingm m Datam m Visualization
Chapter 7: Marketingm m Analytics
Chapter 8: Accountingm m Analytics
Chapter 9: Financialm m Analytics
Chapter 10: Operationsm m Analytics
Chapter 11: Advancedm m Businessm m Analytics
Chapter 12: Usingm m them m SOARm m Analyticsm m Modelm m to m m Putm m Itm m Allm m Together:m m Threem m Capstonem m P
rojects
, Chapter m m 01 m
m–
Chapter 1 End-of-Chapter Assignment Solutions
m m m m
Multiple m m Choice m m Questions
1. (LOm 1.1) m Am coordinated,m standardizedm setm ofm activitiesm conductedm bym bothm people m andm equi
pme mntm tom accomplishm am specificm businessm taskm ism called.
a. businessm m processes
b. businessm m analysis
c. businessm m procedure
d. businessm m value
2. (LOm 1.2) m m Accordingm m tom m the m m informationm value m m chain,m m datam m combinedm m withm m contextm m is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LOm m 1.5) m Whichm phasem ofm the m SOARm analyticsm modelm addressesm them properm waym tom co
mmunmicate m resultsm tom the m decisionm maker?
a. Specifym m the m m question
b. Obtainm m the m m data
c. Analyze m m the m m data
d. Reportm m the m m results
4. (LOm 1.5) m Whichm phasem ofm the m SOARm analyticsm modelm involvesm findingm the m mostm appropriate
m datam needed m tom address m the m business m question?
a. Specifym m the m m question
b. Obtainm m the m m data
c. Analyze m m the m m data
d. Reportm m the m m results
5. (LOm m 1.5) m m Whichm m questionsm m seekm m informationm m aboutm m Tesla’sm m salesm m inm m the m m nextm m quarter?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm the m future?m Whatm ism the m probabilitym somethingm willm happen?
m Canm we m forecastm whatm will m happen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
6. (LOm 1.5) m Whichm questionsm seekm informationm onm them routingm ofm productsm fromm Queretar
o,m Mmexicom tom Chicago,m Unitedm Statesm inm the m lastm quarter?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym m somethingm willm happen?m C
anm wm e m forecastm whatm willmhappen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
, Chapter m m 01 m
m–
7. (LOm 1.5) m Whichm questionsm askm whym netm incomem ism increasingm whenm revenuesm are
m decrmeasing,m counterm tomexpectations?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m ofm m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym somethingm willm happen?m Ca
nm wm e m forecastm whatm willmhappen?
d. Whatm shouldm wem do,m basedm onm whatm we m expectm willm happen?m Howm dom we m optimize
m ourm performance m based m onm potentialm constraints?
8. (LOm 1.5) m Whichm questionsm helpm managersm understandm howm tom organizem future m shipments
m bam sedm onm expected m demand?
a. Whatm m happened?m m Whatm m ism m happening?
b. Whym m didm m itm m happen?m m Whatm m are m m the m m causesm m of m m pastm m results?
c. Willm itm happenm inm them future?m m Whatm ism them probabilitym m somethingm willm happen?m C
anm wm e m forecastm whatm willmhappen?
d. Whatm m shouldm m we m m do,m basedm m onm m whatm m wem expectm m willm m happen?m m Howm m dom m wem
m optimizm e m ourm performance m basedm onm potential m constraints?
9. (LOm m 1.5) m Whichm termm refersm tom the m combinedm accuracy,m validity,m andm consistencym of m data
m stom redm andm used m overm time?
a. Datam m integrity
b. Datam m overload
c. Datam m value
d. Informationm value
10. (LOm m 1.3) m m Am m specialistm m whom m knowsm m howm m tom m workm m with,m m manipulate,m m andm m statisticallym m testm m data
m m ism m a
a. decisionm m maker.
b. datam m scientist.
c. datam m analyst.
d. decisionm m scientist.
11. (LOm m 1.4) m Whichm typem ofm analystsm predictsm the m amountm ofm moneym thatm am companym willm rece
ive m fmromm itsm customersm tom helpm managementm evaluate m futurem investmentsm basedm onm expected
m investme m ntm performance, m suchm asm investments m inm equipmentm orm employee m training?
a. Marketingm m analyst
b. Operationsm m analyst
c. Financialm m analyst
d. Accountingm analyst
12. (LOm 1.4) m m Whichm type m m ofm analystm m addressesm m questionsm m regardingm m tax m m andm m auditing?
a. Marketingm m analyst
b. Operationsm m analyst
c. Financialm m analyst
d. Accountingm analyst
13. (LOm m 1.5) m Supposem am companym hasm timelym productm reviewsm thatm are m available m whenm ne
eded,mbutm the m reviewsm are m biased.m These m productm reviewsm are m whichm type m of m data?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©m McGrawm Hillm LLC.m m Allm rights m reserved. m No m reproductionm or m m distributionm withoutm them prior m writtenm cons
entm of m Mcm Grawm Hillm LLC.
4
