Test Bank Business Analytics Data Analysis and Decision Making 6th complete exam
questions and answers Chapter 1-20
1. The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include which of the
following?
a. optimization techniques b. decision analysis with uncertainty
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c. structured sensitivity analysis d. all of these choices
ANSWER: d
POINTS: 1
ED
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1-2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
2. Which statement is not true?
a. Dealing with uncertainty includes measuring uncertainty.
C
b. Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
c. Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution.
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d. Dealing with uncertainty requires a basic understanding of probability.
ANSWER: c
POINTS: 1
N
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
N
3. What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
a. data analysis b. dealing with uncertainty
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c. decision making d. data mining
ANSWER: d
POINTS: 1
IS
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
SE
4. Data analysis includes:
a. data description b. data inference
c. the search for relationships in data d. all of these choices
ANSWER: d
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POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
R
OTHER: BUSPROG: Analytic | DISC: Decision Making
5. Which of the following is not one of the steps in the modeling process?
a. Select the scale for the model.
b. Collect and summarize data.
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, c. Verify the model.
d. Present the results.
e. Implement the model and update it through time.
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
M
OTHER: BUSPROG: Analytic | DISC: Decision Making
6. Which of the following would not be included under data analysis?
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a. measuring uncertainty b. data description
c. data inference d. search for relationships
ANSWER: a
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
C
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
O
7. The decision making process includes:
a. optimization techniques for problems with no uncertainty
b. decision analysis for problems with uncertainty
N
c. sensitivity analysis
d. all of these choices
ANSWER: d
N
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
O
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
®
IS
8. Which tool is an Excel add-in for performing what-if analyses?
a. PrecisionTree
b. TopRank
c. Solver
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d. @Risk
e. StatTools
ANSWER: b
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
U
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
R
9. Which of the following statements are true?
a. Three important themes run through the book: data analysis, decision making, and uncertainty.
b. Data analysis includes data description, data inference, and the searching for relationships in data
c. Decision making includes optimization techniques for problems with no uncertainty, decision analysis for
problems with uncertainty, and structured sensitivity analysis.
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, d. Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the analysis.
e. All of these statements are true.
ANSWER: e
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
M
10. Data analysis includes data description, data inference, and the search for relationships in data.
a. True
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b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
C
OTHER: BUSPROG: Analytic | DISC: Decision Making
11. Decision-making includes optimization techniques for problems with certainty, decision analysis for problems with
certainty, and structured sensitivity analysis.
O
a. True
b. False
ANSWER: False
N
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
N
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
O
12.
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.
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a. True
b. False
ANSWER: False
POINTS: 1
SE
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
13. Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis,
U
decision-making, and dealing with uncertainty.
a. True
b. False
R
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Knowledge
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
Copyright Cengage Learning. Powered by Cognero. Page 3
, ®
14. Spreadsheet simulations cannot be performed entirely with the built-in or add-in tools in Excel , so spreadsheet
simulations are still one of the most difficult quantitative models to implement in the business world.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
M
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Data Methods
ED
15. 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
C
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Data Methods
O
16. When we use simulation models to help make decisions, we do not deal with uncertainty at all, since we often must
make inferences from the simulated data.
N
a. True
b. False
ANSWER: False
N
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
O
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
IS
17. 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
SE
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
TOPICS: A-Head: 1.2 Overview of the Book
OTHER: BUSPROG: Analytic | DISC: Decision Making
U
®
18. @Risk is an Excel add-in that can be used to run replications of a simulation, keep track of outputs, create useful
charts, and perform sensitivity analyses.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy | Bloom's: Comprehension
Copyright Cengage Learning. Powered by Cognero. Page 4
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