Exam (elaborations)
MSIS 3223 - EXAM 1 (CHAPTERS 1-4) QUESTIONS AND ANSWERS
- Course
- Institution
MSIS 3223 - EXAM 1 (CHAPTERS 1-4) QUESTIONS AND ANSWERS
[Show more]
Content preview
MSIS 3223 - EXAM 1 (CHAPTERS 1-4) QUESTIONSAND ANSWERS
Descriptive analytics helps detect hidden patterns in large quantities of data to group
data unto sets to predict behavior. - Answers- 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. - Answers-
False.
Prescriptive analytics can help a company address the best way of shipping goods from
their factories to minimize costs. - Answers- True.
Analyzing the problem is the first phase in decision making. - Answers- False.
A deterministic model is one in which all model input information is wither known or
assumed to be known with certainty. - Answers- True.
The demand for professionals with analytics expertise has skyrocketed. - Answers-
True.
Modern business analytics can be viewed as an integration of Business Intelligence,
Information Systems, statistics, and modeling and optimization. - Answers- 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. - Answers- True.
Decision models typically have three types of input: Data, Uncontrollable Inputs, and
Decision Options. - Answers- True.
A body weight scale is used to weigh patients in a clinic, but it reads weights one pound
below the true value. Which of the following is true about the data collected by this
scale? - Answers- Data are valid.
AND(condition 1, condition 2...) is a logical function that returns TRUE if all conditions
are true and FALSE if not. - Answers- True.
The Pareto principle is often called the "80--20 rule." - Answers- True.
The filter tool extracts records meeting the specified criteria, deleting any records that
don't match the criteria. - Answers- False.
Three useful logical functions in business analytics applications are IF, AND, and OR
followed by conditions in parentheses. - Answers- True.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Greaterheights. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now