MSIS 3223 Exam 1 Study guide Oklahoma State WITH 100%
SURE ANSWERS
Terms in this set (122)
Descriptive analytics helps detect hidden B.
patterns in large quantities of data to group
data into sets to predict behavior.
A. True
B. False
A manager at Academy wishes to know the B.
company's revenue and
profit in its previous quarter. Predictive
analytics is what the manager
should use for this task
A. True
B. False
Prescriptive analytics can help a company A.
address the best way of
shipping goods from their factories to
minimize costs
A. True
B . False
Analyzing the problem is the first phase in B.
decision making.
A. True
B. False
Product Mix is determined by top mangers. A.
A. True
B. False
A deterministic model is one in which all A.
model input information is
either known or assumed to be known with
certainty
A. True
B. False
1/8
, The demand for professionals with A.
analytics expertise has skyrocketed
A. True
B. False
Modern business analytics can be viewed A.
as an integration of Business
Intelligence, Information Systems, statistics,
and modeling and
optimization\
A. True
B. False
Statistics has a long and rich history, yet A.
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
A. True
B. False
Decision models typically have three types
of input:
Data, uncontrollable inputs, and decision
options
A. True
B. False
AND(condition 1, condition 2...) is a logical A.
function that returns TRUE if all conditions
are true and FALSE if not.
A. True
B. False
The Pareto principle is often called the "80- A.
-20 rule
A. True
B. False
The filter tool extracts records meeting the B.
specified criteria, deleting
any records that don't match the criteria
A. True
B. False
Three useful logical functions in business A.
analytics applications are IF,
AND, and OR followed by conditions in
parentheses
A. true
B. False
Form controls are buttons, boxes, and A.
other mechanisms for inputting
or changing data on spreadsheets easily
and used to design user-
friendly spreadsheets
A. True
B. False
2/8
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