Test Bank - Business Analytics 2nd Edition by James Evans, All Chapters

TEST BANK

Business Analytics


by James Evans
2nd Edition
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, Table of Contents

Chapter 1. ..................................................................................................... 1

Chapter 2…................................................................................................... 19

Chapter 3…................................................................................................... 37

Chapter 4… .................................................................................................... 65

Chapter 5… .................................................................................................... 99
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Chapter 6… .................................................................................................... 119

Chapter 7… .................................................................................................... 141
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Chapter 8. ...................................................................................................... 163
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Chapter 9….................................................................................................... 185

Chapter 10. ......................................................................................................211
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Chapter 11….................................................................................................. 229

Chapter 12….................................................................................................. 259

Chapter 13….................................................................................................. 279
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Chapter 14….................................................................................................. 297

Chapter 15….................................................................................................. 323

Chapter A. .......................................................................................................365
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Chapter B. .......................................................................................................395

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Business Analytics (Evans)
Chapter 1 I n t r o d u c t i o n to Business Analytics

1) Descriptive analytics:
A) can predict risk and find relationships in data not readily apparent with traditional analyses.
B) helps companies classify their customers into segments to develop specific marketing
campaigns.
C) helps detect hidden patterns in large quantities of data to group data into sets to predict
behavior.
D) can use mathematical techniques with optimization to make decisions that take into account
the uncertainty in the data.
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Answer: B
Diff: 1
Blooms: Remember
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Topic: Scope of Business Analytics
LO1: Explain and provide examples of descriptive, predictive, and prescriptive analytics.
LO2: Compare and contrast tools for presenting and organizing data
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2) A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous
quarter. Which of the following business analytics will help the manager?
A) prescriptive analytics
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B) normative analytics
C) descriptive analytics
D) predictive analytics
Answer: C
Diff: 1
Blooms: Apply
AACSB: Analytic Skills
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Topic: Scope of Business Analytics
LO1: Explain and provide examples of descriptive, predictive, and prescriptive analytics.
LO2: Describe the major tools and criteria for decision making.

3) Predictive analytics:
A) summarizes data into meaningful charts and reports that can be standardized or customized.
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B) identifies the best alternatives to minimize or maximize an objective.
C) uses data to determine a course of action to be executed in a given situation.
D) detects patterns in historical data and extrapolates them forward in time.
Answer: D
Diff: 2
Blooms: Remember
Topic: Scope of Business Analytics
LO1: Explain and provide examples of descriptive, predictive, and prescriptive analytics.
LO2: Compare and contrast tools for presenting and organizing data

, 2 Chapter 1: Business Analytics


4) A trader who wants to predict short-term movements in stock prices is likely to use
analytics.
A) predictive
B) descriptive
C) normative
D) prescriptive
Answer: A
Diff: 1
Blooms: Apply
AACSB: Analytic Skills
Topic: Scope of Business Analytics
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LO1: Explain and provide examples of descriptive, predictive, and prescriptive analytics.
LO2: Describe the major tools and criteria for decision making.
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5) Which of the following questions will prescriptive analytics help a company address?
A) How many and what types of complaints did they resolve?
B) What is the best way of shipping goods from their factories to minimize costs?
C) What do they expect to pay for fuel over the next several months?
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D) What will happen if demand falls by 10% or if supplier prices go up 5%?
Answer: B
Diff: 2
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Blooms: Understand
AACSB: Analytic Skills
Topic: Scope of Business Analytics
LO1: Explain and provide examples of descriptive, predictive, and prescriptive analytics.
LO2: Describe the major tools and criteria for decision making.

6) What is a database?
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A) a structured collection of related files and data
B) simply a collection of data
C) a data file holding a single file
D) flat files used to store data
Answer: A
Diff: 1
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Blooms: Remember
Topic: Data for Business Analytics
LO1: Explain the difference between a data set and a database.
LO2: Explain how data are acquired and distinguish among different types of data and levels of
measurement




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