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MSIS 3223 - Exam 1 (Chapters 1-4) Study Guide Exam And Actual Answers.

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Descriptive analytics helps detect hidden patterns in large quantities of data to group data unto sets to predict behavior. - Answer False. A manager at Academy wishes to know the company's revenue and profit in its previous quarter. Predictive analytics is what the manager should use for thi...

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MSIS 3223 - Exam 1 (Chapters 1-4)
Study Guide Exam And Actual Answers.
Descriptive analytics helps detect hidden patterns in large quantities of data to group data unto sets to
predict behavior. - Answer False.

A manager at Academy wishes to know the company's revenue and profit in its previous quarter.
Predictive analytics is what the manager should use for this task. - Answer False.

Prescriptive analytics can help a company address the best way of shipping goods from their factories to
minimize costs. - Answer True.

Analyzing the problem is the first phase in decision making. - Answer False.

A deterministic model is one in which all model input information is wither known or assumed to be
known with certainty. - Answer True.

The demand for professionals with analytics expertise has skyrocketed. - Answer True.

Modern business analytics can be viewed as an integration of Business Intelligence, Information Systems,
statistics, and modeling and optimization. - Answer True.

Statistics has a long rich history, yet only rather recently has it been recognized as an important element
of business, driven to a large extent by the massive growth of data in today's world. - Answer True.

Decision models typically have three types of input: Data, Uncontrollable Inputs, and Decision Options. -
Answer True.

A body weight scale is used to weigh patients in a clinic, but it reads weights one pound below the true
value. Which of the following is true about the data collected by this scale? - Answer Data are valid.

, AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions are true and FALSE
if not. - Answer True.

The Pareto principle is often called the "80--20 rule." - Answer True.

The filter tool extracts records meeting the specified criteria, deleting any records that don't match the
criteria. - Answer False.

Three useful logical functions in business analytics applications are IF, AND, and OR followed by
conditions in parentheses. - Answer True.

Form controls are buttons, boxes, and other mechanisms for inputting or changing data on spreadsheets
easily and used to design user-friendly spreadsheets. - Answer True.

PivotTables may be used to facilitate data visualization and statistical analysis of data sets. - Answer
True.

Excel has a tool called 'dicers' for drilling down data in a PivotTable to display as subset of that data. -
Answer False.

A database is a collection of related files (tables) containing records on people, places, or things. -
Answer True.

A data set is simply a collection of data. - Answer True.

Which of the following is not a lookup function in Excel? - Answer COUNTIF

T/F: Dashboards may include tabular as well as visual data to help a manager to quickly locate key
information. - Answer True.

T/F: Excel distinguishes between vertical and horizontal bar charts, calling the former column charts and
the latter bar charts. - Answer True.

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