COB FINAL EXAM QUESTIONS AND
ANSWERS
__________ is what the customer is willing to pay. - Correct Answers -Value
Imagine that you own a manufacturing shop. You've discovered that recently there has
been an overproduction of a key ingredient in your main business process so you plan
to "shop around" for the best price. Based on the model presented in the question
above, this situation is known as _________________. - Correct Answers -bargaining
power of customers
One of your classmates found that there has been an "explosion" in the 3 Vs of financial
data. What kind of data is being described? - Correct Answers -Big Data
Time and place where a retail transaction is completed - Correct Answers -Point of Sale
Contain a chip that can store a considerable amount of information - Correct Answers -
Smart Card
Some e-commerce is conducted, but primary business is carried out in the physical
world - Correct Answers -Clicks-and-Mortar
Servicing customers, collaborating with business partners and performing electronic
transactions within an organization - Correct Answers -E-Business
Process of buying, selling, transferring or exchanging products, services or information
via computer networks, including the Internet - Correct Answers -E-Commerce
Sellers are organizations and buyers are individuals - Correct Answers -B2C
Two individuals or an individual and a business can transfer funds without using a credit
card. - Correct Answers -Person-to-Person Payment
Organizations are both sellers and buyers - Correct Answers -B2B
Individual sells products or services to other individuals. Etsy.com is an example. -
Correct Answers -C2C
, Customers can purchase products from Target by walking into a physical store and by
ordering from their online store. Which type of business presence do they have? -
Correct Answers -Clicks and Mortar
Wal-Mart is typically associated with which of the following competitive strategies? -
Correct Answers -Cost Leader
What does Wal-Mart advertise as its competitive advantage? - Correct Answers -Lower
prices than competitors
When Carey was in Richmond and used her cellphone to search for a Starbucks store,
the results showed Richmond-based locations. When she was in Fairfax, the results
showed Fairfax-based locations. Starbucks is using a _____________ mobile marketing
strategy. - Correct Answers -location-based
What term means, "Too big to work on common computers and software"? - Correct
Answers -Volume
What term means, "Multiple formats, often unstructured, and according to a study, "the
biggest factor that's leading companies to big data solutions.'"? - Correct Answers -
Variety
What term means, "Constant influx of data (better known as "streaming data")"? -
Correct Answers -Velocity
Data placed in a file with fixed fields or variables is called - Correct Answers -Structured
Data
Which of the following is not an example of social commerce? - Correct Answers -Best
Buy has a website, which can be used to purchase products for pick up in a store.
A Web 2.0 media website encourages contributions of ____________ media content
and promotes tagging, rating, commenting, and other interactions among users. -
Correct Answers -User- Generated
In Porter's Value Chain below, "Margin" is also known as ____________________. -
Correct Answers -Profit
Value minus cost equals __________________. - Correct Answers -Profit
An advantage of OLAP reports is their ability to let users drill down into the data. -
Correct Answers -True
________ is the application of statistical techniques to find patterns and relationships
among data for classification and prediction. - Correct Answers -Data Mining
ANSWERS
__________ is what the customer is willing to pay. - Correct Answers -Value
Imagine that you own a manufacturing shop. You've discovered that recently there has
been an overproduction of a key ingredient in your main business process so you plan
to "shop around" for the best price. Based on the model presented in the question
above, this situation is known as _________________. - Correct Answers -bargaining
power of customers
One of your classmates found that there has been an "explosion" in the 3 Vs of financial
data. What kind of data is being described? - Correct Answers -Big Data
Time and place where a retail transaction is completed - Correct Answers -Point of Sale
Contain a chip that can store a considerable amount of information - Correct Answers -
Smart Card
Some e-commerce is conducted, but primary business is carried out in the physical
world - Correct Answers -Clicks-and-Mortar
Servicing customers, collaborating with business partners and performing electronic
transactions within an organization - Correct Answers -E-Business
Process of buying, selling, transferring or exchanging products, services or information
via computer networks, including the Internet - Correct Answers -E-Commerce
Sellers are organizations and buyers are individuals - Correct Answers -B2C
Two individuals or an individual and a business can transfer funds without using a credit
card. - Correct Answers -Person-to-Person Payment
Organizations are both sellers and buyers - Correct Answers -B2B
Individual sells products or services to other individuals. Etsy.com is an example. -
Correct Answers -C2C
, Customers can purchase products from Target by walking into a physical store and by
ordering from their online store. Which type of business presence do they have? -
Correct Answers -Clicks and Mortar
Wal-Mart is typically associated with which of the following competitive strategies? -
Correct Answers -Cost Leader
What does Wal-Mart advertise as its competitive advantage? - Correct Answers -Lower
prices than competitors
When Carey was in Richmond and used her cellphone to search for a Starbucks store,
the results showed Richmond-based locations. When she was in Fairfax, the results
showed Fairfax-based locations. Starbucks is using a _____________ mobile marketing
strategy. - Correct Answers -location-based
What term means, "Too big to work on common computers and software"? - Correct
Answers -Volume
What term means, "Multiple formats, often unstructured, and according to a study, "the
biggest factor that's leading companies to big data solutions.'"? - Correct Answers -
Variety
What term means, "Constant influx of data (better known as "streaming data")"? -
Correct Answers -Velocity
Data placed in a file with fixed fields or variables is called - Correct Answers -Structured
Data
Which of the following is not an example of social commerce? - Correct Answers -Best
Buy has a website, which can be used to purchase products for pick up in a store.
A Web 2.0 media website encourages contributions of ____________ media content
and promotes tagging, rating, commenting, and other interactions among users. -
Correct Answers -User- Generated
In Porter's Value Chain below, "Margin" is also known as ____________________. -
Correct Answers -Profit
Value minus cost equals __________________. - Correct Answers -Profit
An advantage of OLAP reports is their ability to let users drill down into the data. -
Correct Answers -True
________ is the application of statistical techniques to find patterns and relationships
among data for classification and prediction. - Correct Answers -Data Mining
