Descriptive analytics helps detect hidden patterns in large quantities of data to group data unto sets to predict behavior. - ANSWERFalse.
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 ta...
Descriptive analytics helps detect hidden patterns in large quantities of data to group data unto sets
to predict behavior. - ANSWERFalse.
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. - ANSWERFalse.
Prescriptive analytics can help a company address the best way of shipping goods from their factories
to minimize costs. - ANSWERTrue.
Analyzing the problem is the first phase in decision making. - ANSWERFalse.
A deterministic model is one in which all model input information is wither known or assumed to be
known with certainty. - ANSWERTrue.
The demand for professionals with analytics expertise has skyrocketed. - ANSWERTrue.
Modern business analytics can be viewed as an integration of Business Intelligence, Information
Systems, statistics, and modeling and optimization. - ANSWERTrue.
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. -
ANSWERTrue.
Decision models typically have three types of input: Data, Uncontrollable Inputs, and Decision
Options. - ANSWERTrue.
Form controls are buttons, boxes, and other mechanisms for inputting or changing data on
spreadsheets easily and used to design user-friendly spreadsheets. - ANSWERTrue.
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