Solution Manual for Introduction to Business Analytics, 1st Edition By Vernon Richardson and Marcia Watson, Verified Chapters 1 - 12, Complete Newest Version

Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions


Solution Manual for Introduction to Business Analytics,
m m m m m m m




1st Edition
m




By Vernon Richardson and Marcia Watson
m m m m m




Verified Chapter's 1 - 12 | Complete
m m m m m m

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions




TABLE OF CONTENTS m m m




Chapterm1:mSpecifymthemQuestion:mUsingmBusinessmAnalyticsmtomAddressmBusinessmQuestionsmm

Chapterm2:mObtainmthemData:mAnmIntroductionmtomBusinessmDatamSourcesmm

Chapterm3:mAnalyzemthemData:mBasicmStatisticsmandmToolsmRequiredminmBusinessmAnalyticsmm

Chapterm4:mAnalyzemthemData:mExploratorymBusinessmAnalyticsm(DescriptivemAnalyticsmandmDiagnosticmAnalytics)
mm




Chapterm5:mAnalyzemthemData:mConfirmatorymBusinessmAnalyticsm(PredictivemAnalyticsmandmPrescriptivemAnalytic
s)mm

Chapterm6:mReportmthemResults:mUsingmDatamVisualizationmm

Chapterm7:mMarketingmAnalyticsmm

Chapterm8:mAccountingmAnalyticsmm

Chapterm9:mFinancialmAnalyticsmm

Chapterm10:mOperationsmAnalyticsmm

Chapterm11:mAdvancedmBusinessmAnalyticsmm

Chapterm12:mUsingmthemSOARmAnalyticsmModelmtomPutmItmAllmTogether:mThreemCapstonemProjectsmm

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions



Chapter 1 End-of-Chapter Assignment Solutions
m m m m




MultiplemChoicemQuestions
1. (LOm1.1)mAmcoordinated,mstandardizedmsetmofmactivitiesmconductedmbymbothmpeoplemandmequipmentmtomaccomp
lishmamspecificmbusinessmtaskmismcalled .
a. businessmprocesses
b. businessmanalysis
c. businessmprocedure
d. businessmvalue

2. (LOm1.2)mAccordingmtomtheminformationmvaluemchain,mdatamcombinedmwithmcontextmis
a. Information.
b. Knowledge.
c. Insight.
d. Value.

3. (LOm1.5)mWhichmphasemofmthemSOARmanalyticsmmodelmaddressesmthempropermwaymtomcommunicatemresultsm
tomthemdecisionmmaker?
a. Specifymthemquestion
b. Obtainmthemdata
c. Analyzemthemdata
d. Reportmthemresults

4. (LOm1.5)mWhichmphasemofmthemSOARmanalyticsmmodelminvolvesmfindingmthemmostmappropriatemdatamneededmtoma
ddressmthembusinessmquestion?
a. Specifymthemquestion
b. Obtainmthemdata
c. Analyzemthemdata
d. Reportmthemresults

5. (LOm1.5)mWhichmquestionsmseekminformationmaboutmTesla’smsalesminmthemnextmquarter?
a. Whatmhappened?mWhatmismhappening?
b. Whymdidmitmhappen?mWhatmaremthemcausesmofmpastmresults?
c. Willmitmhappenminmthemfuture?mWhatmismthemprobabilitymsomethingmwillmhappen?mCanmwemforecastm
whatmwillmhappen?
d. Whatmshouldmwemdo,mbasedmonmwhatmwemexpectmwillmhappen?mHowmdomwemoptimizemourmperformancem
basedmonmpotentialmconstraints?


6. (LOm1.5)mWhichmquestionsmseekminformationmonmthemroutingmofmproductsmfrommQueretaro,mMexicomtomChi
cago,mUnitedmStatesminmthemlastmquarter?
a. Whatmhappened?mWhatmismhappening?
b. Whymdidmitmhappen?mWhatmaremthemcausesmofmpastmresults?
c. Willmitmhappenminmthemfuture?mWhatmismthemprobabilitymsomethingmwillmhappen?mCanmwemforecastmwh
atmwillmhappen?
d. Whatmshouldmwemdo,mbasedmonmwhatmwemexpectmwillmhappen?mHowmdomwemoptimizemourmperformancem
basedmonmpotentialmconstraints?

, Chapter 01 – Specify the Question: Using Business Analytics to Address Business Questions
7. (LOm1.5)mWhichmquestionsmaskmwhymnetmincomemismincreasingmwhenmrevenuesmaremdecreasing,mcount
ermtomexpectations?
a. Whatmhappened?mWhatmismhappening?
b. Whymdidmitmhappen?mWhatmaremthemcausesmofmpastmresults?
c. Willmitmhappenminmthemfuture?mWhatmismthemprobabilitymsomethingmwillmhappen?mCanmwemforecastmwh
atmwillmhappen?
d. Whatmshouldmwemdo,mbasedmonmwhatmwemexpectmwillmhappen?mHowmdomwemoptimizemourmperformancem
basedmonmpotentialmconstraints?

8. (LOm1.5)mWhichmquestionsmhelpmmanagersmunderstandmhowmtomorganizemfuturemshipmentsmbasedmonmexp
ectedmdemand?
a. Whatmhappened?mWhatmismhappening?
b. Whymdidmitmhappen?mWhatmaremthemcausesmofmpastmresults?
c. Willmitmhappenminmthemfuture?mWhatmismthemprobabilitymsomethingmwillmhappen?mCanmwemforecastmwh
atmwillmhappen?
d. Whatmshouldmwemdo,mbasedmonmwhatmwemexpectmwillmhappen?mHowmdomwemoptimizemourmperfor
mancembasedmonmpotentialmconstraints?

9. (LOm1.5)mWhichmtermmrefersmtomthemcombinedmaccuracy,mvalidity,mandmconsistencymofmdatamstoredmandmused
movermtime?

a. Datamintegrity
b. Datamoverload
c. Datamvalue
d. Informationmvalue

10. (LOm1.3)mAmspecialistmwhomknowsmhowmtomworkmwith,mmanipulate,mandmstatisticallymtestmdatamisma
a. decisionmmaker.
b. datamscientist.
c. datamanalyst.
d. decisionmscientist.

11. (LOm1.4)mWhichmtypemofmanalystsmpredictsmthemamountmofmmoneymthatmamcompanymwillmreceivemfrommitsmcustom
ersmtomhelpmmanagementmevaluatemfutureminvestmentsmbasedmonmexpectedminvestmentmperformance,msuchmasmi
nvestmentsminmequipmentmormemployeemtraining?
a. Marketingmanalyst
b. Operationsmanalyst
c. Financialmanalyst
d. Accountingmanalyst

12. (LOm1.4)mWhichmtypemofmanalystmaddressesmquestionsmregardingmtaxmandmauditing?
a. Marketingmanalyst
b. Operationsmanalyst
c. Financialmanalyst
d. Accountingmanalyst

13. (LOm1.5)mSupposemamcompanymhasmtimelymproductmreviewsmthatmaremavailablemwhenmneeded,mbutmthemrevie
wsmarembiased.mThesemproductmreviewsmaremwhichmtypemofmdata?
a. Reliable
b. Relevant
c. Curated
d. Consistent
©mMcGrawmHillmLLC.mAllmrightsmreserved.mNomreproductionmormdistributionmwithoutmthempriormwrittenmconsentmofmMcGrawmHillmLLC.



4