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
Multiple Choice Questions
1. (LOo1.1)oAocoordinated,ostandardizedosetoofoactivitiesoconductedobyobothopeopleoandoequipmentotooaccom
plishoaospecificobusinessotaskoisocalled .
a. businessoprocesses
b. businessoanalysis
c. businessoprocedure
d. businessovalue
2. (LOo1.2)oAccordingotootheoinformationovalueochain,odataocombinedowithocontextois
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LOo1.5)oWhichophaseoofotheoSOARoanalyticsomodeloaddressesotheoproperowayotoocommunicateoresults
otootheodecisionomaker?
a. Specifyotheoquestion
b. Obtainotheodata
c. Analyzeotheodata
d. Reportotheoresults
4. (LOo1.5)oWhichophaseoofotheoSOARoanalyticsomodeloinvolvesofindingotheomostoappropriateodataoneededotooa
ddressotheobusinessoquestion?
a. Specifyotheoquestion
b. Obtainotheodata
c. Analyzeotheodata
d. Reportotheoresults
5. (LOo1.5)oWhichoquestionsoseekoinformationoaboutoTesla’sosalesoinotheonextoquarter?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecast
owhatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
6. (LOo1.5)oWhichoquestionsoseekoinformationoonotheoroutingoofoproductsofromoQueretaro,oMexicootooCh
icago,oUnitedoStatesoinotheolastoquarter?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LOo1.5)oWhichoquestionsoaskowhyonetoincomeoisoincreasingowhenorevenuesoareodecreasing,ocoun
terotooexpectations?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
8. (LOo1.5)oWhichoquestionsohelpomanagersounderstandohowotooorganizeofutureoshipmentsobasedoonoexp
ectedodemand?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperfor
manceobasedoonopotentialoconstraints?
9. (LOo1.5)oWhichotermorefersotootheocombinedoaccuracy,ovalidity,oandoconsistencyoofodataostoredoandouse
dooverotime?
a. Dataointegrity
b. Dataooverload
c. Dataovalue
d. Informationovalue
10. (LOo1.3)oAospecialistowhooknowsohowotooworkowith,omanipulate,oandostatisticallyotestodataoisoa
a. decisionomaker.
b. dataoscientist.
c. dataoanalyst.
d. decisionoscientist.
11. (LOo1.4)oWhichotypeoofoanalystsopredictsotheoamountoofomoneyothatoaocompanyowilloreceiveofromoitsocusto
mersotoohelpomanagementoevaluateofutureoinvestmentsobasedoonoexpectedoinvestmentoperformance,osuchoa
soinvestmentsoinoequipmentooroemployeeotraining?
a. Marketingoanalyst
b. Operationsoanalyst
c. Financialoanalyst
d. Accountingoanalyst
12. (LOo1.4)oWhichotypeoofoanalystoaddressesoquestionsoregardingotaxoandoauditing?
a. Marketingoanalyst
b. Operationsoanalyst
c. Financialoanalyst
d. Accountingoanalyst
13. (LOo1.5)oSupposeoaocompanyohasotimelyoproductoreviewsothatoareoavailableowhenoneeded,obutotheorevie
wsoareobiased.oTheseoproductoreviewsoareowhichotypeoofodata?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©oMcGrawoHilloLLC.oAllorightsoreserved.oNooreproductionoorodistributionowithoutotheopriorowrittenoconsentoofoMcGrawoHilloLLC.
4
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
Multiple Choice Questions
1. (LOo1.1)oAocoordinated,ostandardizedosetoofoactivitiesoconductedobyobothopeopleoandoequipmentotooaccom
plishoaospecificobusinessotaskoisocalled .
a. businessoprocesses
b. businessoanalysis
c. businessoprocedure
d. businessovalue
2. (LOo1.2)oAccordingotootheoinformationovalueochain,odataocombinedowithocontextois
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LOo1.5)oWhichophaseoofotheoSOARoanalyticsomodeloaddressesotheoproperowayotoocommunicateoresults
otootheodecisionomaker?
a. Specifyotheoquestion
b. Obtainotheodata
c. Analyzeotheodata
d. Reportotheoresults
4. (LOo1.5)oWhichophaseoofotheoSOARoanalyticsomodeloinvolvesofindingotheomostoappropriateodataoneededotooa
ddressotheobusinessoquestion?
a. Specifyotheoquestion
b. Obtainotheodata
c. Analyzeotheodata
d. Reportotheoresults
5. (LOo1.5)oWhichoquestionsoseekoinformationoaboutoTesla’sosalesoinotheonextoquarter?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecast
owhatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
6. (LOo1.5)oWhichoquestionsoseekoinformationoonotheoroutingoofoproductsofromoQueretaro,oMexicootooCh
icago,oUnitedoStatesoinotheolastoquarter?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LOo1.5)oWhichoquestionsoaskowhyonetoincomeoisoincreasingowhenorevenuesoareodecreasing,ocoun
terotooexpectations?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperformance
obasedoonopotentialoconstraints?
8. (LOo1.5)oWhichoquestionsohelpomanagersounderstandohowotooorganizeofutureoshipmentsobasedoonoexp
ectedodemand?
a. Whatohappened?oWhatoisohappening?
b. Whyodidoitohappen?oWhatoareotheocausesoofopastoresults?
c. Willoitohappenoinotheofuture?oWhatoisotheoprobabilityosomethingowillohappen?oCanoweoforecastow
hatowillohappen?
d. Whatoshouldoweodo,obasedoonowhatoweoexpectowillohappen?oHowodooweooptimizeoouroperfor
manceobasedoonopotentialoconstraints?
9. (LOo1.5)oWhichotermorefersotootheocombinedoaccuracy,ovalidity,oandoconsistencyoofodataostoredoandouse
dooverotime?
a. Dataointegrity
b. Dataooverload
c. Dataovalue
d. Informationovalue
10. (LOo1.3)oAospecialistowhooknowsohowotooworkowith,omanipulate,oandostatisticallyotestodataoisoa
a. decisionomaker.
b. dataoscientist.
c. dataoanalyst.
d. decisionoscientist.
11. (LOo1.4)oWhichotypeoofoanalystsopredictsotheoamountoofomoneyothatoaocompanyowilloreceiveofromoitsocusto
mersotoohelpomanagementoevaluateofutureoinvestmentsobasedoonoexpectedoinvestmentoperformance,osuchoa
soinvestmentsoinoequipmentooroemployeeotraining?
a. Marketingoanalyst
b. Operationsoanalyst
c. Financialoanalyst
d. Accountingoanalyst
12. (LOo1.4)oWhichotypeoofoanalystoaddressesoquestionsoregardingotaxoandoauditing?
a. Marketingoanalyst
b. Operationsoanalyst
c. Financialoanalyst
d. Accountingoanalyst
13. (LOo1.5)oSupposeoaocompanyohasotimelyoproductoreviewsothatoareoavailableowhenoneeded,obutotheorevie
wsoareobiased.oTheseoproductoreviewsoareowhichotypeoofodata?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©oMcGrawoHilloLLC.oAllorightsoreserved.oNooreproductionoorodistributionowithoutotheopriorowrittenoconsentoofoMcGrawoHilloLLC.
4
