MSIS 3223 - Exam 1 (Chapters 1-4) with Complete Solutions
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Module
MSIS 3223
Institution
MSIS 3223
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 t...
MSIS 3223 - Exam 1 (Chapters 1-4) with
Complete Solutions
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.
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.
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