Business Analytics: Data Analysis résumés

1. The set of all values of the changing cells that satisfy all constraints, not including the nonnegativity constraints, is called the feasible region. a. True b. False 2. Linear programming is a subset of a larger class of models called: a. mathematical programming models b. mathematical optimality models c. linear regression models d. linear simplex model 3. In using Excel to solve linear programming problems, the target cell represents the: a. value of the objective function b. constraints...

1. Which of the following is not one of the assumptions of regression? a. There is a population regression line b. The response variable is normally distributed c. The standard deviation of the response variable increases as the explanatory variables increase d. The errors are probabilistically independent 2. The error term represents the vertical distance from any point to the a. estimated regression line b. population regression line c. value of the Y’s d. mean value of the X’s 3. Which ...

1. Which methodology is used to group products that customers purchase together? a. Market basket analysis b. Prediction c. Classification analysis d. Forecasting 2. Mya is investigating the factors that impact soda consumption. She examines a host of variables that help explain the amount consumed. Which type of data mining methodology is she most likely to use? a. Market basket analysis b. Prediction c. Classification analysis d. Forecasting 3. A facts table has: a. few rows and many columns...

1. The three parameters required to specify a triangular distribution are the minimum, mean and maximum. a. True b. False 2. The binomial distribution is a discrete distribution that is applied to situations where n independent and identical “trials” occur, with each trial resulting in a “success” or “failure,” and we want to generate the random number of successes in the n trials. a. True b. False 3. The binomial distribution can be well approximated by the normal distribution whe...

1. Forecasting models can be divided into three groups. They are: a. time series, optimization, and simulation methods b. judgmental, extrapolation, and econometric methods c. judgmental, random, and linear methods d. linear, non-linear, and extrapolation methods 2. Extrapolation methods attempt to: a. use non-quantitative methods to predict future values b. search for patterns in the data and then use those to predict future values c. find variables that are correlated with the data being pred...

1. Many organizations must determine how to schedule employees to provide adequate service. If we assume that an organization faces the same situation each week, this is referred to as a. static scheduling problem b. dynamic scheduling problem c. transportation scheduling problem d. All of these options A meat market manager for a large grocery store is preparing a processing plan to stock the shelves with sausage, ground meat, and jerky, which he can prepare from beef, pork and venison. Sausag...

1. Which of the following is typically not an application of simulation models? a. Operations models b. Financial models c. Marketing models d. Value of Information models e. None of these options 2. Bidding for contracts is an example of which of the following types of simulation model application? a. Operations models b. Financial models c. Marketing models d. Games of chance e. None of these options 3. Cash balance models are an example of which of the following types of simulation applicat...

1. The null hypothesis usually represents the: a. theory the researcher would like to prove. b. preconceived ideas of the researcher c. perceptions of the sample population d. status quo 2. In statistical analysis, the burden of proof lies traditionally with the: a. alternative hypothesis b. null hypothesis c. analyst d. facts presented to the statistical analyst 3. The hypothesis that an analyst is trying to prove is called the: a. elective hypothesis b. alternative hypothesis c. optional hyp...

A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related to the customer purchase amounts. Probability Calculations P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133, P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711 Percentiles Calculations 1st Percentile = $9.06, 5th Percentile = $15.20, 95th P...