Business Analytics exam questions
and answers graded A+
Which one of the following is used in predictive analytics? - ANS✅✅linear regression
. The Pearson product correlation coefficient will always take values - ANS✅✅between -1 and +1.
Which of the following applies to a median? - ANS✅✅it is the value in the middle when the data
are arranged in ascending order (smallest to largest value).
Which of the following is true (when performing sensitivity analysis on the break-even point model)?
- ANS✅✅a decrease in selling price per unit will increase the break-even point, all other things
held constant
it is a value that occurs most frequently in a data set - ANS✅✅MODE
it is the simplest measure of variability in data - ANS✅✅RANGE
it is a measure of location that is calculated by finding the nth root of the product of n values. -
ANS✅✅GEO-MEAN
. What method is used to solve linear programming models with Excel's Solver? - ANS✅✅Simplex
When using Excel's Goal Seek feature to find the break- even point the by Changing Cell box should
display? - ANS✅✅address of a cell with production/sales volume (setting cell to 0 by changing # of
units to what you would sell)
In a linear trend forecast predictor variable (independent variable) is ... - ANS✅✅time period T
You are deciding on the length of the moving average when developing a forecast of sales. MAD for
a 3 period-moving average is calculated at 46.75 while MAD (Mean Absolute Deviation aka ERROR)
for a 4 period moving average is 39.55. What would you recommend? *want error to be SMALL* -
ANS✅✅Forecast sales using a 4-period moving average
and answers graded A+
Which one of the following is used in predictive analytics? - ANS✅✅linear regression
. The Pearson product correlation coefficient will always take values - ANS✅✅between -1 and +1.
Which of the following applies to a median? - ANS✅✅it is the value in the middle when the data
are arranged in ascending order (smallest to largest value).
Which of the following is true (when performing sensitivity analysis on the break-even point model)?
- ANS✅✅a decrease in selling price per unit will increase the break-even point, all other things
held constant
it is a value that occurs most frequently in a data set - ANS✅✅MODE
it is the simplest measure of variability in data - ANS✅✅RANGE
it is a measure of location that is calculated by finding the nth root of the product of n values. -
ANS✅✅GEO-MEAN
. What method is used to solve linear programming models with Excel's Solver? - ANS✅✅Simplex
When using Excel's Goal Seek feature to find the break- even point the by Changing Cell box should
display? - ANS✅✅address of a cell with production/sales volume (setting cell to 0 by changing # of
units to what you would sell)
In a linear trend forecast predictor variable (independent variable) is ... - ANS✅✅time period T
You are deciding on the length of the moving average when developing a forecast of sales. MAD for
a 3 period-moving average is calculated at 46.75 while MAD (Mean Absolute Deviation aka ERROR)
for a 4 period moving average is 39.55. What would you recommend? *want error to be SMALL* -
ANS✅✅Forecast sales using a 4-period moving average
