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Test Bank For Business Analytics Data Analysis & Decision Making 8th Edition 2025 by S. Christian Albright, Wayne L. Winston Chapter 1-19 $18.48
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Test Bank For Business Analytics Data Analysis & Decision Making 8th Edition 2025 by S. Christian Albright, Wayne L. Winston Chapter 1-19

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Test Bank For
Business Analytics Data Analysis & Decision Making 8th Edition 2025 by S. Christian Albright,
Wayne L. Winston
Chapter 1-19
Chapter 01: Introduction to Business Analytics

True / False

1. Data analysis includes data descriptionk, data visualization, data inference, and the search for relationships in data.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

2. A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets
that companies currently encounter.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 Introduction
LEARNING OBJECTIVES: DADM_ALWI.25.01.01 - To understand why the methods discussed in this book apply to all
business people, not just the “quant jocks.”
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

3. Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics

,KEYWORDS: Bloom's: Understand

4. When we use simulation models to help make decisions, we do not deal with uncertainty, because we can carry out
calculations and avoid performing inferences.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand

5. We must deal with uncertainty when we make inferences from data and search for relationships in data, or when we use
decision trees to help make decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand

6. Spreadsheet models typically involve inputs, decision variables, and outputs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
LEARNING OBJECTIVES: DADM_ALWI.25.01.03 - To start learning Excel modeling skills, including several Excel
functions that will be used throughout the book.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand

7. Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then relating them appropriately, by
means of formulas, to obtain the decision variables.
a. True
b. False
ANSWER: False
POINTS: 1

,DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
LEARNING OBJECTIVES: DADM_ALWI.25.01.03 - To start learning Excel modeling skills, including several Excel
functions that will be used throughout the book.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand

8. A few ways to enhance the readability of a spreadsheet model are to use a clear, logical layout of the overall model, and
to use clear headings for different sections of the model and for all inputs, decision variables, and outputs.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Introduction to Spreadsheet Modeling
LEARNING OBJECTIVES: DADM_ALWI.25.01.03 - To start learning Excel modeling skills, including several Excel
functions that will be used throughout the book.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Understand

Multiple Choice

9. The decision-making themes covered in Business Analytics: Data Analysis and Decision Making include which of the
following?
a. Optimization techniques
b. Decision analysis with uncertainty
c. Structured sensitivity analysis
d. All of these choices
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.04 - To learn the importance of sensitivity analysis and how it can be
implemented in Excel with data tables.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

10. Which statement is not true?
a. Dealing with uncertainty includes measuring uncertainty.
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
d. Dealing with uncertainty requires a basic understanding of probability.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy

, REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

11. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
a. Data analysis
b. Dealing with uncertainty
c. Decision making
d. Data mining
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

12. Data analysis includes
a. data description.
b. data inference.
c. the search for relationships in data.
d. all of these choices.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.
NATIONAL STANDARDS: United States - BUSPROG: Analytic
United States - Descriptive Statistics
KEYWORDS: Bloom's: Remember

13. Which of the following is not one of the “intermediate” features of Excel that the authors expect you to be able to use?
a. SUMPRODUCT
b. VLOOKUP
c. IF
d. DIFFERENCEPRODUCT
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Overview of the Book
LEARNING OBJECTIVES: DADM_ALWI.25.01.02 -
To learn good spreadsheet practices so your spreadsheets can be understood by others.

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