Test Bank for Business Analytics, Data Analysis and Decision Making 7th Edition Albright

TEST BANK




TEST BANK

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Chapter 1. Introduction to Business Analytics

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
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making

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
ANSWER: d
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
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




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5. Which of the following is not one of the steps in the modeling process?

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Business Analytics: Data Analysis & Decision Making,

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
b. decision analysis for problems with uncertainty
c. 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

8. Which tool is an Exc
® el add-in for performing what-if analyses?

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




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