Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
Solution Manual for Introduction to Business Analytics,
1st Edition
By Vernon Richardson and Marcia Watson
Verified Chapter's 1 - 12 | Complete
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
TABLE OF CONTENTS
Chapter 1: Specify the Question: Using Business Analytics to Address Business Questions
Chapter 2: Obtain the Data: An Introduction to Business Data Sources
Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business Analytics
Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics and Diagnostic Analytics)
Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics and Prescriptive Analytics)
Chapter 6: Report the Results: Using Data Visualization
Chapter 7: Marketing Analytics
Chapter 8: Accounting Analytics
Chapter 9: Financial Analytics
Chapter 10: Operations Analytics
Chapter 11: Advanced Business Analytics
Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone Projects
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
Chapter 1 End-of-Chapter Assignment Solutions
D D D D
Multiple Choice Questions
D D
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equipment to
D D D D D D D D D D D D D D
accomplish aspecific business task is called
D D D . D D D D
a. business processes D
b. business analysis D
c. business procedure D
d. business value D
2. (LO 1.2) According to the information value chain, data combined with context is
D D D D D D D D D D D D
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to communicate results to
D D D D D D D D D D D D D D D D
thedecision maker?
D D D
a. Specify the question D D
b. Obtain the data D D
c. Analyze the data D D
d. Report the results D D
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most appropriate data needed to
D D D D D D D D D D D D D D D D
addressthe business question?
D D D D
a. Specify the question D D
b. Obtain the data D D
c. Analyze the data D D
d. Report the results D D
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
D D D D D D D D D D D D
a. What happened? What is happening?
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b. Why did it happen? What are the causes of past results?
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c. Will it happen in the future? What is the probability something will happen? Can we forecast
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whatwill happen?
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d. What should we do, based on what we expect will happen? How do we optimize our performance
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basedon potential constraints?
D D D D
6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, Mexico to
D D D D D D D D D D D D D D
Chicago,United States in the last quarter?
D D D D D D D
a. What happened? What is happening?
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b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our performance
D D D D D D D D D D D D D D D D
basedon potential constraints?
D D D D
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decreasing,
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counter toexpectations?
D D D
a. What happened? What is happening? D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our performance
D D D D D D D D D D D D D D D D
basedon potential constraints?
D D D D
8. (LO 1.5) Which questions help managers understand how to organize future shipments based on
D D D D D D D D D D D D D
expecteddemand?
D D
a. What happened? What is happening? D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our
D D D D D D D D D D D D D D D
performancebased on potential constraints?
D D D D D
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data stored and used
D D D D D D D D D D D D D D D D
overtime?
D D
a. Data integrity D
b. Data overload D
c. Data value D
d. Information value D
10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically test data is a
D D D D D D D D D D D D D D D D
a. decision maker. D
b. data scientist. D
c. data analyst. D
d. decision scientist. D
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will receive from its
D D D D D D D D D D D D D D D D D
customers tohelp management evaluate future investments based on expected investment performance,
D D D D D D D D D D D D
such as investments in equipment or employee training?
D D D D D D D D
a. Marketing analyst D
b. Operations analyst D
c. Financial analyst D
d. Accounting analyst D
12. (LO 1.4) Which type of analyst addresses questions regarding tax and auditing?
D D D D D D D D D D D
a. Marketing analyst D
b. Operations analyst D
c. Financial analyst D
d. Accounting analyst D
13. (LO 1.5) Suppose a company has timely product reviews that are available when needed, but the reviews
D D D D D D D D D D D D D D D D
arebiased. These product reviews are which type of data?
D D D D D D D D D D
a. Reliable
b. Relevant
c. Curated
d. Consistent
© DMcGraw DHill DLLC. DAll Drights Dreserved. DNo Dreproduction Dor Ddistribution Dwithout Dthe Dprior Dwritten Dconsent Dof DMcGraw DHill DLLC.
4
Solution Manual for Introduction to Business Analytics,
1st Edition
By Vernon Richardson and Marcia Watson
Verified Chapter's 1 - 12 | Complete
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
TABLE OF CONTENTS
Chapter 1: Specify the Question: Using Business Analytics to Address Business Questions
Chapter 2: Obtain the Data: An Introduction to Business Data Sources
Chapter 3: Analyze the Data: Basic Statistics and Tools Required in Business Analytics
Chapter 4: Analyze the Data: Exploratory Business Analytics (Descriptive Analytics and Diagnostic Analytics)
Chapter 5: Analyze the Data: Confirmatory Business Analytics (Predictive Analytics and Prescriptive Analytics)
Chapter 6: Report the Results: Using Data Visualization
Chapter 7: Marketing Analytics
Chapter 8: Accounting Analytics
Chapter 9: Financial Analytics
Chapter 10: Operations Analytics
Chapter 11: Advanced Business Analytics
Chapter 12: Using the SOAR Analytics Model to Put It All Together: Three Capstone Projects
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
Chapter 1 End-of-Chapter Assignment Solutions
D D D D
Multiple Choice Questions
D D
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equipment to
D D D D D D D D D D D D D D
accomplish aspecific business task is called
D D D . D D D D
a. business processes D
b. business analysis D
c. business procedure D
d. business value D
2. (LO 1.2) According to the information value chain, data combined with context is
D D D D D D D D D D D D
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to communicate results to
D D D D D D D D D D D D D D D D
thedecision maker?
D D D
a. Specify the question D D
b. Obtain the data D D
c. Analyze the data D D
d. Report the results D D
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most appropriate data needed to
D D D D D D D D D D D D D D D D
addressthe business question?
D D D D
a. Specify the question D D
b. Obtain the data D D
c. Analyze the data D D
d. Report the results D D
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?
D D D D D D D D D D D D
a. What happened? What is happening?
D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast
D D D D D D D D D D D D D D D
whatwill happen?
D D D
d. What should we do, based on what we expect will happen? How do we optimize our performance
D D D D D D D D D D D D D D D D
basedon potential constraints?
D D D D
6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, Mexico to
D D D D D D D D D D D D D D
Chicago,United States in the last quarter?
D D D D D D D
a. What happened? What is happening?
D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our performance
D D D D D D D D D D D D D D D D
basedon potential constraints?
D D D D
, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decreasing,
D D D D D D D D D D D D D
counter toexpectations?
D D D
a. What happened? What is happening? D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our performance
D D D D D D D D D D D D D D D D
basedon potential constraints?
D D D D
8. (LO 1.5) Which questions help managers understand how to organize future shipments based on
D D D D D D D D D D D D D
expecteddemand?
D D
a. What happened? What is happening? D D D D
b. Why did it happen? What are the causes of past results?
D D D D D D D D D D
c. Will it happen in the future? What is the probability something will happen? Can we forecast what
D D D D D D D D D D D D D D D D
willhappen?
D D
d. What should we do, based on what we expect will happen? How do we optimize our
D D D D D D D D D D D D D D D
performancebased on potential constraints?
D D D D D
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data stored and used
D D D D D D D D D D D D D D D D
overtime?
D D
a. Data integrity D
b. Data overload D
c. Data value D
d. Information value D
10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically test data is a
D D D D D D D D D D D D D D D D
a. decision maker. D
b. data scientist. D
c. data analyst. D
d. decision scientist. D
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will receive from its
D D D D D D D D D D D D D D D D D
customers tohelp management evaluate future investments based on expected investment performance,
D D D D D D D D D D D D
such as investments in equipment or employee training?
D D D D D D D D
a. Marketing analyst D
b. Operations analyst D
c. Financial analyst D
d. Accounting analyst D
12. (LO 1.4) Which type of analyst addresses questions regarding tax and auditing?
D D D D D D D D D D D
a. Marketing analyst D
b. Operations analyst D
c. Financial analyst D
d. Accounting analyst D
13. (LO 1.5) Suppose a company has timely product reviews that are available when needed, but the reviews
D D D D D D D D D D D D D D D D
arebiased. These product reviews are which type of data?
D D D D D D D D D D
a. Reliable
b. Relevant
c. Curated
d. Consistent
© DMcGraw DHill DLLC. DAll Drights Dreserved. DNo Dreproduction Dor Ddistribution Dwithout Dthe Dprior Dwritten Dconsent Dof DMcGraw DHill DLLC.
4
