Exam (elaborations)
MSIS 3223 QUIZ 1 QUESTIONS AND ANSWERS
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MSIS 3223 QUIZ 1 QUESTIONS AND ANSWERS
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MSIS 3223 QUIZ 1 QUESTIONS AND ANSWERSDescriptive analytics helps detect hidden patterns in large quantities of data to group
data into 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
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
Form controls are buttons, boxes, and other mechanisms for inputting or changing data
on spreadsheets easily and used to design user-friendly spreadsheets. - 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 either 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 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. - Answers- True
Decision models typically have three types of input: Data, uncontrollable inputs, and
decision options. - Answers- True
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