Chapter 01 – Specify
g g g g g g g g the g g Question: g g Using g g Business Analytics
g g g g to
Address Business
© g g McGraw g g Hill g g LLC. g gAll g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the
prior written consent of
1
, Chapter 01 – Specify
g g g g g g g g the g g Question: g g Using g g Business Analytics g g g g to
Address Business
Chapter 1 End-of-Chapter Assignment Solutions
gg gg gg gg
Multiple Choice Questions
g g g g
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and
g g g g g g g g g g g g g g g g g g g g g g g g
equipment to accomplish aspecific business task is called .
g g g g gg g g g g g g g g g g
a. business processes g g
b. business analysis g g
c. business procedure g g
d. business value g g
2. (LO 1.2) According to
gg g g g g g g the g g information value chain, data combined with context is
g g g g g g g g g g g g g g
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way
g g g g g g g g g g g g g g g g g g g g g g g g
to communicate results to thedecision maker?
g g g g gg g g g g g g
a. Specify the question g g g g
b. Obtain the data g g g g
c. Analyze the data g g g g
d. Report the results g g g g
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most
g g g g g g g g g g g g g g g g g g g g g g g g
appropriate data needed to address the business question?
g g g g g g gg g g ww g g g g
a. Specify the question g g g g
b. Obtain the data g g g g
c. Analyze the data g g g g
d. Report the results g g g g
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
g g g g g g g g g g g g g g g g g g g g g g g g
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will
g g g g g g g g g g g g g g g g g g g g g g
happen? Can we forecast what will happen?
g g g g g g gg g g ww g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
6. (LO 1.5) Which questions seek information on the routing of products from
g g g g g g g g g g g g g g g g g g g g g g
Queretaro, Mexico to Chicago, United States in the last quarter?
g g g g g g gg ww g g g g g g g g g g
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
© g g McGraw g g Hill g g LLC. g g All g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the
prior written consent of
2
, Chapter 01 – Specify the Question: Using
g g g g g g g g g g g g g g Business Analytics g g g g to
Address
7. (LO 1.5) Business
Which questions ask why net
g g g g income is increasing when revenues
g g g g g g g g g g g g g g g g g g
g g are decreasing, counter to expectations?
g g gg g g ww
a. What happened? What is happening?
g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
8. (LO 1.5) Which questions help managers understand how to organize future
g g g g g g g g g g g g g g g g g g g g
shipments based on expecteddemand?
g g g g g g gg
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performancebased on potential constraints?
g g g g g g gg g g g g g g
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of
g g g g g g g g g g g g g g g g g g g g g g g g
data stored and used overtime?
g g g g g g gg g g
a. Data integrity g g
b. Data overload g g
c. Data value g g
d. Information value gg
10. (LO 1.3) A specialist who knows
g g g g g g g g g g g g how to g g g g work with, manipulate,g g g g g g and g g statistically g g test g g data
is a
g g g g
a. decision maker. g g
b. data scientist. g g
c. data analyst. g g
d. decision scientist. g g
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will
g g g g g g g g g g g g g g g g g g g g g g g g g g g g
receive from its customers tohelp management evaluate future investments based on
g g g g g g gg g g g g g g g g g g g g g g
expected investment performance, such as investments in equipment or employee training?
g g g g g g gg g g g g g g g g g g g g g g
a. Marketing analyst g g
b. Operations analyst g g
c. Financial analyst g g
d. Accounting analyst g g
12. (LO 1.4) gg g g Which type of analyst g g g g g g g g addresses g g questions g g regarding tax and auditing? g g g g g g
a. Marketing analyst g g
b. Operations analyst g g
c. Financial analyst g g
d. Accounting analyst g g
13. (LO 1.5) Suppose a company has timely product reviews that are available when
g g g g g g g g g g g g g g g g g g g g g g g g
needed, but the reviews arebiased. These product reviews are which type of
g g g g g g gg g g g g g g g g g g g g g g g g
data?
g g
a. Reliable
b. Relevant
c. Curated
d. Consistent
© g g McGraw g g Hill g g LLC. g g All g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the g g prior g g written
3
, Chapter 01 – Specify the Question: Using
g g g g g g g g g g g g g g Business Analytics
g g g g to
consent
Address Business
g g of McGraw Hill
g gLLC.
g g g g g g
4
g g g g g g g g the g g Question: g g Using g g Business Analytics
g g g g to
Address Business
© g g McGraw g g Hill g g LLC. g gAll g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the
prior written consent of
1
, Chapter 01 – Specify
g g g g g g g g the g g Question: g g Using g g Business Analytics g g g g to
Address Business
Chapter 1 End-of-Chapter Assignment Solutions
gg gg gg gg
Multiple Choice Questions
g g g g
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and
g g g g g g g g g g g g g g g g g g g g g g g g
equipment to accomplish aspecific business task is called .
g g g g gg g g g g g g g g g g
a. business processes g g
b. business analysis g g
c. business procedure g g
d. business value g g
2. (LO 1.2) According to
gg g g g g g g the g g information value chain, data combined with context is
g g g g g g g g g g g g g g
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way
g g g g g g g g g g g g g g g g g g g g g g g g
to communicate results to thedecision maker?
g g g g gg g g g g g g
a. Specify the question g g g g
b. Obtain the data g g g g
c. Analyze the data g g g g
d. Report the results g g g g
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most
g g g g g g g g g g g g g g g g g g g g g g g g
appropriate data needed to address the business question?
g g g g g g gg g g ww g g g g
a. Specify the question g g g g
b. Obtain the data g g g g
c. Analyze the data g g g g
d. Report the results g g g g
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
g g g g g g g g g g g g g g g g g g g g g g g g
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will
g g g g g g g g g g g g g g g g g g g g g g
happen? Can we forecast what will happen?
g g g g g g gg g g ww g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
6. (LO 1.5) Which questions seek information on the routing of products from
g g g g g g g g g g g g g g g g g g g g g g
Queretaro, Mexico to Chicago, United States in the last quarter?
g g g g g g gg ww g g g g g g g g g g
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
© g g McGraw g g Hill g g LLC. g g All g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the
prior written consent of
2
, Chapter 01 – Specify the Question: Using
g g g g g g g g g g g g g g Business Analytics g g g g to
Address
7. (LO 1.5) Business
Which questions ask why net
g g g g income is increasing when revenues
g g g g g g g g g g g g g g g g g g
g g are decreasing, counter to expectations?
g g gg g g ww
a. What happened? What is happening?
g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performance basedon potential constraints?
g g g g g g gg g g g g g g
8. (LO 1.5) Which questions help managers understand how to organize future
g g g g g g g g g g g g g g g g g g g g
shipments based on expecteddemand?
g g g g g g gg
a. What happened? What is happening? g g g g g g g g
b. Why did it happen? What are the causes of past results?
g g g g g g g g g g g g g g g g g g g g
c. Will it happen in the future? What is the probability something will happen?
g g g g g g g g g g g g g g g g g g g g g g g g
Can we forecast what willhappen?
g g g g g g gg g g
d. What should we do, based on what we expect will happen? How do
g g g g g g g g g g g g g g g g g g g g g g g g
we optimize our performancebased on potential constraints?
g g g g g g gg g g g g g g
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of
g g g g g g g g g g g g g g g g g g g g g g g g
data stored and used overtime?
g g g g g g gg g g
a. Data integrity g g
b. Data overload g g
c. Data value g g
d. Information value gg
10. (LO 1.3) A specialist who knows
g g g g g g g g g g g g how to g g g g work with, manipulate,g g g g g g and g g statistically g g test g g data
is a
g g g g
a. decision maker. g g
b. data scientist. g g
c. data analyst. g g
d. decision scientist. g g
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will
g g g g g g g g g g g g g g g g g g g g g g g g g g g g
receive from its customers tohelp management evaluate future investments based on
g g g g g g gg g g g g g g g g g g g g g g
expected investment performance, such as investments in equipment or employee training?
g g g g g g gg g g g g g g g g g g g g g g
a. Marketing analyst g g
b. Operations analyst g g
c. Financial analyst g g
d. Accounting analyst g g
12. (LO 1.4) gg g g Which type of analyst g g g g g g g g addresses g g questions g g regarding tax and auditing? g g g g g g
a. Marketing analyst g g
b. Operations analyst g g
c. Financial analyst g g
d. Accounting analyst g g
13. (LO 1.5) Suppose a company has timely product reviews that are available when
g g g g g g g g g g g g g g g g g g g g g g g g
needed, but the reviews arebiased. These product reviews are which type of
g g g g g g gg g g g g g g g g g g g g g g g g
data?
g g
a. Reliable
b. Relevant
c. Curated
d. Consistent
© g g McGraw g g Hill g g LLC. g g All g g rights g g reserved. g g No g g reproduction g g or g g distribution g g without g g the g g prior g g written
3
, Chapter 01 – Specify the Question: Using
g g g g g g g g g g g g g g Business Analytics
g g g g to
consent
Address Business
g g of McGraw Hill
g gLLC.
g g g g g g
4
