Introduction to Business Analytics, 2nd Edition by Vernon Richardson & Marcia Watson – Latest 2025/2026 100% Verified Correct Revised Edition Complete Solution Manual (Chapters 1–12)

Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
hf hf hf hf hf hf hf hf hf hf hf hf




Solution Manual for Introduction to Business Analytics,
hf hf hf hf hf hf hf




2nd Edition
hf




By Vernon Richardson and Marcia Watson
hf hf hf hf hf




Verified Chapter's 1 - 12 | Complete
hf hf hf hf hf hf

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
hf hf hf hf hf hf hf hf hf hf hf hf




TABLE OF CONTENTS hf hf hf




Chapter 1: Specify the Question: Using Business Analytics to Address Business Questions
hf hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 2: Obtain the Data: An Introduction to Business Data Sources
hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business Analytics
hf hf hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics and Diagnostic Analytics)
hf hf hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics and Prescriptive Analytics)
hf hf hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 6: Report the Results: Using Data Visualization
hf hf hf hf hf hf hf hf hf




Chapter 7: Marketing Analytics
hf hf hf hf hf




Chapter 8: Accounting Analytics
hf hf hf hf hf




Chapter 9: Financial Analytics
hf hf hf hf hf




Chapter 10: Operations Analytics
hf hf hf hf hf




Chapter 11: Advanced Business Analytics
hf hf hf hf hf hf




Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone Projects
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
hf hf hf hf hf hf hf hf hf hf hf hf




Chapter 1 End-of-Chapter Assignment Solutions hf hf hf hf




Multiple Choice Questions hf hf




1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equipment to accomplish a
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




specific business task is called
fh hf . hf hf hf




a. business processes hf




b. business analysis hf




c. business procedure hf




d. business value hf




2. (LO 1.2) According to the information value chain, data combined with context is
hf hf hf hf hf hf hf hf hf hf hf hf




a. Information.
b. Knowledge.
c. Insight.
d. Value.

3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to communicate results to the
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




decision maker?
fh hf




a. Specify the question hf hf




b. Obtain the data hf hf




c. Analyze the data hf hf




d. Report the results hf hf




4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most appropriate data needed to address
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




the business question?
fh hf hf




a. Specify the question hf hf




b. Obtain the data hf hf




c. Analyze the data hf hf




d. Report the results hf hf




5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
hf hf hf hf hf hf hf hf hf hf hf hf




a. What happened? What is happening? hf hf hf hf




b. Why did it happen? What are the causes of past results? hf hf hf hf hf hf hf hf hf hf




c. Will it happen in the future? What is the probability something will happen? Can we forecast what
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




will happen? h
f hf




d. What should we do, based on what we expect will happen? How do we optimize our performance based
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




on potential constraints? fh hf hf




6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, Mexico to Chicago,
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




United States in the last quarter?
fh hf hf hf hf hf




a. What happened? What is happening? hf hf hf hf




b. Why did it happen? What are the causes of past results? hf hf hf hf hf hf hf hf hf hf




c. Will it happen in the future? What is the probability something will happen? Can we forecast what will
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




happen? fh




d. What should we do, based on what we expect will happen? How do we optimize our performance based
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




on potential constraints? fh hf hf

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
hf hf hf hf hf hf hf hf hf hf hf hf




7. (LO 1.5) Which questions ask why net income is increasing when revenues are decreasing, counter to
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




expectations?
fh




a. What happened? What is happening? hf hf hf hf




b. Why did it happen? What are the causes of past results? hf hf hf hf hf hf hf hf hf hf




c. Will it happen in the future? What is the probability something will happen? Can we forecast what will
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




happen? fh




d. What should we do, based on what we expect will happen? How do we optimize our performance based
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




on potential constraints?
fh hf hf




8. (LO 1.5) Which questions help managers understand how to organize future shipments based on expected
hf hf hf hf hf hf hf hf hf hf hf hf hf hf




demand?
fh




a. What happened? What is happening? hf hf hf hf




b. Why did it happen? What are the causes of past results? hf hf hf hf hf hf hf hf hf hf




c. Will it happen in the future? What is the probability something will happen? Can we forecast what will
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




happen? fh




d. What should we do, based on what we expect will happen? How do we optimize our performance
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




based on potential constraints?
h
f hf hf hf




9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data stored and used over
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




time?
fh




a. Data integrity hf




b. Data overload hf




c. Data value hf




d. Information value hf




10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically test data is a
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




a. decision maker. hf




b. data scientist. hf




c. data analyst. hf




d. decision scientist. hf




11. (LO 1.4) Which type of analysts predicts the amount of money that a company will receive from its customers to
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




help management evaluate future investments based on expected investment performance, such as investments
fh hf hf hf hf hf hf hf hf hf hf hf hf




in equipment or employee training?
hf hf hf hf hf




a. Marketing analyst hf




b. Operations analyst hf




c. Financial analyst hf




d. Accounting analyst hf




12. (LO 1.4) Which type of analyst addresses questions regarding tax and auditing?
hf hf hf hf hf hf hf hf hf hf hf




a. Marketing analyst hf




b. Operations analyst hf




c. Financial analyst hf




d. Accounting analyst hf




13. (LO 1.5) Suppose a company has timely product reviews that are available when needed, but the reviews are
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




biased. These product reviews are which type of data?
fh hf hf hf hf hf hf hf hf




a. Reliable
b. Relevant
c. Curated
d. Consistent
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf hf




4