Solution Manual for Introduction to Business Analytics, 1st Edition by Vernon Richardson & Marcia Watson | Complete Answers & Explanations (Updated 2025/2026)

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


Solution Manual for Introduction to Business Analytics,
1st Edition
By Vernon Richardson and Marcia Watson
Verified Chapter's 1 - 12 | Complete

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




TABLE OF CONTENTS
Chapter 1: Specify the Question: Using Business Analytics to Address Business Questions

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

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

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

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

Chapter 6: Report the Results: Using Data Visualization

Chapter 7: Marketing Analytics

Chapter 8: Accounting Analytics

Chapter 9: Financial Analytics

Chapter 10: Operations Analytics

Chapter 11: Advanced Business Analytics

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

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



Chapter 1 End-of-Chapter Assignment Solutions
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Multiple Choice Questions
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1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equipment to
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accomplish aspecific business task is called
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a. business processes D


b. business analysis D


c. business procedure D


d. business value D




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 communicate results to
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thedecision maker?
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a. Specify the question D D


b. Obtain the data D D


c. Analyze the data D D


d. Report the results D D




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


b. Obtain the data D D


c. Analyze the data D D


d. Report the results D D




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? Can we forecast
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whatwill happen?
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d. What should we do, based on what we expect will happen? How do we optimize our performance
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basedon potential constraints?
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6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, Mexico to
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Chicago,United States in the last 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? Can we forecast what
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willhappen?
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d. What should we do, based on what we expect will happen? How do we optimize our performance
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basedon potential constraints?
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, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decreasing,
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counter toexpectations?
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a. What happened? What is happening? D D D D


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 forecast what
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willhappen?
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d. What should we do, based on what we expect will happen? How do we optimize our performance
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basedon potential constraints?
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8. (LO 1.5) Which questions help managers understand how to organize future shipments based on
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expecteddemand?
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a. What happened? What is happening? D D D D


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 forecast what
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willhappen?
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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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performancebased on potential constraints?
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9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data stored and used
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overtime?
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a. Data integrity D


b. Data overload D


c. Data value D


d. Information value D




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


b. data scientist. D


c. data analyst. D


d. decision scientist. D




11. (LO 1.4) Which type of analysts predicts the amount of money that a company will receive from its
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customers tohelp management evaluate future investments based on expected investment performance,
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such as investments in equipment or employee training?
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a. Marketing analyst D


b. Operations analyst D


c. Financial analyst D


d. Accounting analyst D




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


b. Operations analyst D


c. Financial analyst D


d. Accounting analyst D




13. (LO 1.5) Suppose a company has timely product reviews that are available when needed, but the reviews
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arebiased. These product reviews are which type of data?
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a. Reliable
b. Relevant
c. Curated
d. Consistent
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