SCMA 350 Ch. 1 Questions and Answers Latest Update 2025
Data analysis includes data description, visualization, inference, and search for relationships -
Answers True
Decision making includes optimization techniques for problems with certainty, decision analysis
for problems with certainty, and structured sensitivity analysis - Answers False
A relatively new aspect of business analytics is big data, which typically implies the analysis of
the very large data sets that companies currently encounter - Answers True
Three important themes run through the Business Analytics: Data Analysis and Decision making
text: data analysis, decision-making, and dealing with uncertainty - Answers True
Decision tree and simulations cannot be implemented with the built-in or add-in tools in Excel -
Answers False
Although it is relatively easy to collect data, it can be more challenging to understand what the
data mean - Answers True
When we use simulation models to help make decisions, we do not deal with uncertainty,
because we can carry calculations and avoid performing inferences - Answers False
We must deal with uncertainty when we make inferences from data and search for relationships
in data, or when we use decision tree to help make decisions - Answers True
Risk is an Excel add-in that can be used to conduct a simulation - Answers True
The Authors of the text use spreadsheet modeling, particularly Excel spreadsheets, where the
essential elements are entered for further analysis - Answers True
Spreadsheet models typically involve inputs, decision variables, and outputs - Answers True
Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then
relating them appropriately, by means of formulas, to obtain the decision variables - Answers
False
When creating a spreadsheet model it is important to keep sensitivity in mind, because other
people will be reading and trying to make sense out of your spreadsheet models - Answers
False
A few ways to enhance the readability of a spreadsheet model is to use a clear, logical layout of
the overall model, and to use clear headings for different sections of the model and for all
inputs, decision variables, and outputs - Answers True
Excel IF function can be used to determine if an expression is true or false - Answers false
Data analysis includes data description, visualization, inference, and search for relationships -
Answers True
Decision making includes optimization techniques for problems with certainty, decision analysis
for problems with certainty, and structured sensitivity analysis - Answers False
A relatively new aspect of business analytics is big data, which typically implies the analysis of
the very large data sets that companies currently encounter - Answers True
Three important themes run through the Business Analytics: Data Analysis and Decision making
text: data analysis, decision-making, and dealing with uncertainty - Answers True
Decision tree and simulations cannot be implemented with the built-in or add-in tools in Excel -
Answers False
Although it is relatively easy to collect data, it can be more challenging to understand what the
data mean - Answers True
When we use simulation models to help make decisions, we do not deal with uncertainty,
because we can carry calculations and avoid performing inferences - Answers False
We must deal with uncertainty when we make inferences from data and search for relationships
in data, or when we use decision tree to help make decisions - Answers True
Risk is an Excel add-in that can be used to conduct a simulation - Answers True
The Authors of the text use spreadsheet modeling, particularly Excel spreadsheets, where the
essential elements are entered for further analysis - Answers True
Spreadsheet models typically involve inputs, decision variables, and outputs - Answers True
Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then
relating them appropriately, by means of formulas, to obtain the decision variables - Answers
False
When creating a spreadsheet model it is important to keep sensitivity in mind, because other
people will be reading and trying to make sense out of your spreadsheet models - Answers
False
A few ways to enhance the readability of a spreadsheet model is to use a clear, logical layout of
the overall model, and to use clear headings for different sections of the model and for all
inputs, decision variables, and outputs - Answers True
Excel IF function can be used to determine if an expression is true or false - Answers false
