False - ANSWER-Descriptive analytics helps detect hidden patterns in large quantities of data to group data into sets to predict behavior (T/F).
False - ANSWER-A manager at Academy wishes to know the company's revenue and profit in its previous quarter. Predictive analytics is what the manager s...
False - ANSWER-Descriptive analytics helps detect hidden patterns in large quantities
of data to group data into sets to predict behavior (T/F).
False - ANSWER-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 (T/F).
True - ANSWER-Prescriptive analytics can help a company address the best way of
shipping goods from their factories to minimize costs (T/F).
False - ANSWER-Analyzing the problem is the first phase in decision making (T/F).
True - ANSWER-Product mix is determined by top managers (T/F).
True - ANSWER-A deterministic model is one in which all model input information is
either known or assumed to be known with certainty (T/F).
True - ANSWER-The demand for professionals with analytics expertise has skyrocketed
(T/F).
True - ANSWER-Modern business analytics can be viewed as an integration of
Business Intelligence, Information Systems, statistics, and modeling and optimization
(T/F).
True - ANSWER-Statistics has a long and 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 (T/F).
True - ANSWER-Decision models typically have three types of input: Data,
uncontrollable inputs, and decision options (T/F).
True - ANSWER-AND(condition 1, condition 2...) is a logical function that returns TRUE
if all conditions are true and FALSE if not (T/F).
True - ANSWER-The Pareto principle is often called the "80--20 rule" (T/F).
False - ANSWER-The filter tool extracts records meeting the specified criteria, deleting
any records that don't match the criteria (T/F).
True - ANSWER-Three useful logical functions in business analytics applications are IF,
AND, and OR followed by conditions in parentheses (T/F).
, True - ANSWER-Form controls are buttons, boxes, and other mechanisms for inputting
or changing data on spreadsheets easily and used to design user-friendly spreadsheets
(T/F).
True - ANSWER-PivotTables may be used to facilitate data visualization and statistical
analysis of data sets (T/F).
False - ANSWER-Excel has a tool called 'dicers' for drilling down data in a PivotTable to
display as subject of that data (T/F).
True - ANSWER-A database is a collection of related files (tables) containing records on
people, places, or things (T/F).
False - ANSWER-Empirical data is data that comes from an organization's daily
operations (T/F).
True - ANSWER-A data set is simply a collection of data (T/F).
True - ANSWER-Dashboards may include tabular as well as visual data to help a
manager to quickly locate key information (T/F).
True - ANSWER-Excel distinguishes between vertical and horizontal bar charts, calling
the former column charts and the latter bar charts (T/F).
True - ANSWER-Line charts provide a useful means for displaying data over time (T/F).
True - ANSWER-A bubble chart is a type of scatter chart that provides a way to plot
three variables in two dimensions (T/F).
True - ANSWER-Color scales shade scales based on their numerical value using a
color palette. This is an option in the Conditional Formatting menu (T/F).
True - ANSWER-Data visualization is the process of displaying data in a meaningful
fashion to provide insights that will support better decisions (T/F).
False - ANSWER-An area chart combines the features of bubble charts with those of
line charts (T/F).
True - ANSWER-Radar charts show multiple metrics on a spider web (T/F).
True - ANSWER-Data bars display colored bars that are scaled to the magnitude of the
data values (similar to a bar chart) but placed directly within the cells of range (T/F).
False - ANSWER-Icon sets provide similar information as color scales, but use text
instead of color (T/F).
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