Test Bank for Business Analytics: Data Analysis & Decision Making 6th Edition by S. Albright |ISBN: 9781305947542| Guide A+

TEST BANK
Business Analytics: Data Analysis & Decision Making

S. Albright

6th Edition
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,Table of Contents
1. Introduction to Business Analytics
Part 1: Exploring Data
2. Describing the Distribution of a Single Variable
3. Finding Relationships among Variables
Part 2: Probability and Decision Making under Uncertainty
4. Probability and Probability Distributions
5. Normal, Binomial, Poisson, and Exponential Distributions
6. Decision Making under Uncertainty
Part 3: Statistical Inference
7. Sampling and Sampling Distributions
8. Confidence Interval Estimation
9. Hypothesis Testing
Part 4: Regression Analysis and Time Series Forecasting
10. Regression Analysis: Estimating Relationships
11. Regression Analysis: Statistical Inference
12. Time Series Analysis and Forecasting
Part 5: Optimization and Simulation Modeling
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13. Introduction to Optimization Modeling
14. Optimization Models
15. Introduction to Simulation Modeling
16. Simulation Models
Part 6: Advanced Data Analysis
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17. Data Mining
Part 7: Bonus Online Material
18. Importing Data into Excel
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19. Analysis of Variance and Experimental Design
20. Statistical Process Control
Appendix A. Statistical Reporting
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,Ch1
1. The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include which of the
following?
a. optimization techniques b. decision analysis with uncertainty
c. structured sensitivity analysis d. all of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1-2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

2. Which statement is not true?
a. Dealing with uncertainty includes measuring uncertainty.
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
d. Dealing with uncertainty requires a basic understanding of probability.
ANSWER: c
POINTS: 1
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DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
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3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
a. data analysis b. dealing with uncertainty
c. decision making d. data mining
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ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
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TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

4. Data analysis includes:
a. data description b. data inference
c. the search for relationships in data d.
all of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

5. Which of the following is not one of the steps in the modeling process?
a. Select the scale for the model.
b. Collect and summarize data.
c. Verify the model.
d. Present the results.
e. Implement the model and update it through time.

, ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

6. Which of the following would not be included under data analysis?
a. measuring uncertainty b. data description
c. data inference d. search for relationships
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

7. The decision making process includes:
a. optimization techniques for problems with no uncertainty
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b. decision analysis for problems with uncertainty
c. sensitivity analysis
d. all of these choices
ANSWER: d
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POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
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OTHER: BUSPROG: Analytic | DISC: Decision Making

8. Which tool is an Excel® add-in for performing what-if analyses?
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a. PrecisionTree
b. TopRank
c. Solver
d. @Risk
e. StatTools
ANSWER: b
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

9. Which of the following statements are true?
a. Three important themes run through the book: data analysis, decision making, and uncertainty.
b. Data analysis includes data description, data inference, and the searching for relationships in data
c. Decision making includes optimization techniques for problems with no uncertainty, decision analysis for
problems with uncertainty, and structured sensitivity analysis.
d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the analysis.