Business Analytics exam questions
with multiple choice answers graded
A+
____ helps in constructing a mathematical model to predict future sales, based on past data. -
ANS✅✅Predictive Analytics
The scientific process of transforming data into insight for making better decisions is called -
ANS✅✅Business Analytics
Firms guided by data-driven decision making tend to have - ANS✅✅Higher market value
The use of analytics in health care is becoming exceedingly important in order to control costs as
well as - ANS✅✅Provide more effective treatments
Simulation optimization helps - ANS✅✅to find good decisions in highly complex and highly
uncertain settings
Walmart handles over one million purchase transactions per hour. Although the data represents
opportunities, it - ANS✅✅also presents analytical challenges from a processing point of view
The decisions that affect how the firm is run day-to-day are called - ANS✅✅operational decisions
____ encompasses reports, data dashboards, and descriptive statistics to describe past data -
ANS✅✅Descriptive Analytics
Requesting information from a database on number, quantity, and date of shipment is a -
ANS✅✅data query
A children's apparel manufacturer could use descriptive analytics to - ANS✅✅present supply chain
to managers visually
, The decisions concerning an organization's goals and future plans are called - ANS✅✅strategic
decisions
A better understanding of consumer behavior through analytics leads to - ANS✅✅more effective
pricing strategies
Uncertainty due to data inconsistency & incompleteness, ambiguities, latency, deception, model
approximations are - ANS✅✅veracity
Which technique is used in predictive analytics? - ANS✅✅linear regression
Data at Rest: Terabytes to exabytes of existing data to process is - ANS✅✅Volume
Supply network design models w/data about plant & distribution centers that minimize cost & meet
service requirements - ANS✅✅Optimization Models
Professional sports teams use analytics to - ANS✅✅decide how much to offer players in contract
negotiations
Data in Motion: Streaming data, milliseconds to seconds to respond is - ANS✅✅velocity
The tools of business analytics are useful for all of the following except - ANS✅✅enabling us to
eliminate all risk in decision making
A retail store owner offers a discount on product A and predicts that customers would also purchase
products B and C. - ANS✅✅Data Mining
Corporate level managers use ___ to sum sales by region, inventory, and other metrics all in a single
screen - ANS✅✅Data Dashboards
The IRS uses ___ to identify patterns that distinguish questionable annual personal income tax
filings. - ANS✅✅Data Mining
with multiple choice answers graded
A+
____ helps in constructing a mathematical model to predict future sales, based on past data. -
ANS✅✅Predictive Analytics
The scientific process of transforming data into insight for making better decisions is called -
ANS✅✅Business Analytics
Firms guided by data-driven decision making tend to have - ANS✅✅Higher market value
The use of analytics in health care is becoming exceedingly important in order to control costs as
well as - ANS✅✅Provide more effective treatments
Simulation optimization helps - ANS✅✅to find good decisions in highly complex and highly
uncertain settings
Walmart handles over one million purchase transactions per hour. Although the data represents
opportunities, it - ANS✅✅also presents analytical challenges from a processing point of view
The decisions that affect how the firm is run day-to-day are called - ANS✅✅operational decisions
____ encompasses reports, data dashboards, and descriptive statistics to describe past data -
ANS✅✅Descriptive Analytics
Requesting information from a database on number, quantity, and date of shipment is a -
ANS✅✅data query
A children's apparel manufacturer could use descriptive analytics to - ANS✅✅present supply chain
to managers visually
, The decisions concerning an organization's goals and future plans are called - ANS✅✅strategic
decisions
A better understanding of consumer behavior through analytics leads to - ANS✅✅more effective
pricing strategies
Uncertainty due to data inconsistency & incompleteness, ambiguities, latency, deception, model
approximations are - ANS✅✅veracity
Which technique is used in predictive analytics? - ANS✅✅linear regression
Data at Rest: Terabytes to exabytes of existing data to process is - ANS✅✅Volume
Supply network design models w/data about plant & distribution centers that minimize cost & meet
service requirements - ANS✅✅Optimization Models
Professional sports teams use analytics to - ANS✅✅decide how much to offer players in contract
negotiations
Data in Motion: Streaming data, milliseconds to seconds to respond is - ANS✅✅velocity
The tools of business analytics are useful for all of the following except - ANS✅✅enabling us to
eliminate all risk in decision making
A retail store owner offers a discount on product A and predicts that customers would also purchase
products B and C. - ANS✅✅Data Mining
Corporate level managers use ___ to sum sales by region, inventory, and other metrics all in a single
screen - ANS✅✅Data Dashboards
The IRS uses ___ to identify patterns that distinguish questionable annual personal income tax
filings. - ANS✅✅Data Mining
