Complete Test Bank Business Analytics 3rd Edition Evans Questions & Answers with rationales ||Complete Guide

CompleteTestBankBusinessAnalytics3rd Edition
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Evans Questions & Answers with rationales
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, BusinessAnalytics3rd EditionEvansTestBank ds d
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Test Bank - Table of Contents
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Chapter Introduction to Business Analytics l l l 1
1:
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Chapter 1: Appendix A1 Basic Excel Skills
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Chapter Database Analytics l 24
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Chapter 3: Data Visualization
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Chapter Descriptive Statistics l 50
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Chapter Probability Distributions and Data Modeling
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Chapter Sampling and Estimation l l 108
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Chapter Statistical Inference l 127
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Chapter Trendlines and Regression Analysis l l l 145
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Chapter Forecasting Techniques l 163
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Chapter Introduction to Data Mining l l l 184
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Chapter Spreadsheet Modeling and Analysis l l l 198
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Chapter Simulation and Risk Analysis l l l 223
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Chapter Linear Optimization
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Chapter Integer and Nonlinear Optimization Models
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Chapter Optimization Analytics l 295
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Chapter 16: Decision Analysis
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,Chapter 1: l Introduction to Business Analytics l l l




1) Descriptive analytics: l


A) can predict risk and find relationships in data not readily apparent with
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traditional analyses.
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B) helps companies classify their customers into segments to develop specific
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marketing campaigns.
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C) helps detect hidden patterns in large quantities of data to group data
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into sets to predict behavior.
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D) can use mathematical techniques with optimization to make decisions that take into
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account the uncertainty in the data.
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Answer: B l


Diff: 1
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Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics l l l l


LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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2) A manager at Gampco Inc. wishes to know the company's revenue and
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profit in its previous quarter. Which of the following business
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analytics will help the manager?
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A) prescriptive analytics l


B) normative analytics l


C) descriptive analytics l


D) predictive analytics l


Answer: C
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Diff: 1 l


Blooms: Apply
lAACSB:
Analytic Skills l


Topic: Descriptive, Predictive, and Prescriptive Analytics l l l l


LO1: Explain the difference between descriptive, predictive, and prescriptive analytics. l l l l l l l l




3) Predictive analytics: l


A) summarizes data into meaningful charts and reports that can be standardized l l l l l l l l l l


or customized.
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B) identifies the best alternatives to minimize or maximize an objective.
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C) uses data to determine a course of action to be executed in a given situation.
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D) detects patterns in historical data and extrapolates them forward in
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time. Answer: D
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Diff: 2 l


Blooms: Remember
Topic: Descriptive, Predictive, and Prescriptive Analytics l l l l


LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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