Test Bank - Introduction to Business Analytics, 1st Edition by Richardson and Watson, All 12 Chapters Covered, Verified Latest Edition

Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions


Solution6Manual6for6Introduction6to6Business6Analytics
,6
1st6Edition
By6Vernon6Richardson6and6Marcia6Watson
Verified6Chapter's616-6126|6Complete

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions




TABLE6OF6CONTENTS6
Chapter61:6Specify6the6Question:6Using6Business6Analytics6to6Address6Business6Questions66

Chapter62:6Obtain6the6Data:6An6Introduction6to6Business6Data6Sources66

Chapter63:6Analyze6the6Data:6Basic6Statistics6and6Tools6Required6in6Business6Analytics66

Chapter64:6Analyze6the6Data:6Exploratory6Business6Analytics6(Descriptive6Analytics6and6Diagnostic6Anal
ytics)66

Chapter65:6Analyze6the6Data:6Confirmatory6Business6Analytics6(Predictive6Analytics6and6Prescriptive6A
nalytics)66

Chapter66:6Report6the6Results:6Using6Data6Visualization66

Chapter67:6Marketing6Analytics66

Chapter68:6Accounting6Analytics66

Chapter69:6Financial6Analytics66

Chapter610:6Operations6Analytics66

Chapter611:6Advanced6Business6Analytics66

Chapter612:6Using6the6SOAR6Analytics6Model6to6Put6It6All6Together:6Three6Capstone6Projects66

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions



Chapter616End-of-Chapter6Assignment6Solutions
Multiple6Choice6Questions
1. (LO61.1)6A6coordinated,6standardized6set6of6activities6conducted6by6both6people6and6equipment6to6ac
complish6a6specific6business6task6is6called .
a. business6processes
b. business6analysis
c. business6procedure
d. business6value

2. (LO61.2)6According6to6the6information6value6chain,6data6combined6with6context6is
a. Information.
b. Knowledge.
c. Insight.
d. Value.

3. (LO61.5)6Which6phase6of6the6SOAR6analytics6model6addresses6the6proper6way6to6communicate6re
sults6to6the6decision6maker?
a. Specify6the6question
b. Obtain6the6data
c. Analyze6the6data
d. Report6the6results

4. (LO61.5)6Which6phase6of6the6SOAR6analytics6model6involves6finding6the6most6appropriate6data6needed
6to6address6the6business6question?
a. Specify6the6question
b. Obtain6the6data
c. Analyze6the6data
d. Report6the6results

5. (LO61.5)6Which6questions6seek6information6about6Tesla’s6sales6in6the6next6quarter?
a. What6happened?6What6is6happening?
b. Why6did6it6happen?6What6are6the6causes6of6past6results?
c. Will6it6happen6in6the6future?6What6is6the6probability6something6will6happen?6Can6we6for
ecast6what6will6happen?
d. What6should6we6do,6based6on6what6we6expect6will6happen?6How6do6we6optimize6our6perform
ance6based6on6potential6constraints?


6. (LO61.5)6Which6questions6seek6information6on6the6routing6of6products6from6Queretaro,6Mexico6t
o6Chicago,6United6States6in6the6last6quarter?
a. What6happened?6What6is6happening?
b. Why6did6it6happen?6What6are6the6causes6of6past6results?
c. Will6it6happen6in6the6future?6What6is6the6probability6something6will6happen?6Can6we6forecas
t6what6will6happen?
d. What6should6we6do,6based6on6what6we6expect6will6happen?6How6do6we6optimize6our6perform
ance6based6on6potential6constraints?

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LO61.5)6Which6questions6ask6why6net6income6is6increasing6when6revenues6are6decreasing,6
counter6to6expectations?
a. What6happened?6What6is6happening?
b. Why6did6it6happen?6What6are6the6causes6of6past6results?
c. Will6it6happen6in6the6future?6What6is6the6probability6something6will6happen?6Can6we6forecas
t6what6will6happen?
d. What6should6we6do,6based6on6what6we6expect6will6happen?6How6do6we6optimize6our6perform
ance6based6on6potential6constraints?

8. (LO61.5)6Which6questions6help6managers6understand6how6to6organize6future6shipments6based6on
6expected6demand?
a. What6happened?6What6is6happening?
b. Why6did6it6happen?6What6are6the6causes6of6past6results?
c. Will6it6happen6in6the6future?6What6is6the6probability6something6will6happen?6Can6we6forecas
t6what6will6happen?
d. What6should6we6do,6based6on6what6we6expect6will6happen?6How6do6we6optimize6our6p
erformance6based6on6potential6constraints?

9. (LO61.5)6Which6term6refers6to6the6combined6accuracy,6validity,6and6consistency6of6data6stored6and
6used6over6time?
a. Data6integrity
b. Data6overload
c. Data6value
d. Information6value

10. (LO61.3)6A6specialist6who6knows6how6to6work6with,6manipulate,6and6statistically6test6data6is6a
a. decision6maker.
b. data6scientist.
c. data6analyst.
d. decision6scientist.

11. (LO61.4)6Which6type6of6analysts6predicts6the6amount6of6money6that6a6company6will6receive6from6its6c
ustomers6to6help6management6evaluate6future6investments6based6on6expected6investment6performance,
6such6as6investments6in6equipment6or6employee6training?
a. Marketing6analyst
b. Operations6analyst
c. Financial6analyst
d. Accounting6analyst

12. (LO61.4)6Which6type6of6analyst6addresses6questions6regarding6tax6and6auditing?
a. Marketing6analyst
b. Operations6analyst
c. Financial6analyst
d. Accounting6analyst

13. (LO61.5)6Suppose6a6company6has6timely6product6reviews6that6are6available6when6needed,6but6the6
reviews6are6biased.6These6product6reviews6are6which6type6of6data?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©6McGraw6Hill6LLC.6All6rights6reserved.6No6reproduction6or6distribution6without6the6prior6written6consent6of6McGraw6Hill6LLC.



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