EBTM 350 - CHAPTER 1 QUIZ AND ANSWERS WITH
COMPLETE SOLUTIONS VERIFIED GRADED A+
Which of the following is not a challenge faced by organizations that want to
develop analytics capabilities?
A. profitability and customer satisfaction
B. competing business priorities
C. a lack of understanding of how to use analytics
D. difficulty in getting good data and sharing information
A. profitability and customer satisfaction
What does business analytics use to help managers make better decisions?
A. statistical analysis and quantitative methods
B. mathematical or computer-based models
C. data and information technology
D. all of the above
D. all of the above
True or False:
A deterministic model is one in which all model input information is either known
or assumed to be known with certainty.
, True
Which of the following statements is correct about prescriptive analytics?
A. Prescriptive analytics uses data to determine a course of action to be executed
in a given situation.
B. Prescriptive analytics detects patterns in historical data and extrapolates them
forward in time.
C. Prescriptive analytics identifies patterns and relationships existing in large
data sets.
D. Prescriptive analytics summarizes data into meaningful charts and reports that
can be standardized or customized.
A. Prescriptive analytics uses data to determine a course of action to be executed in a
given situation.
Which of the following statements is correct about descriptive analytics?
A. Descriptive analytics helps companies classify their customers into segments
to develop specific marketing campaigns.
B. Descriptive analytics can predict risk and find relationships in data not readily
apparent with traditional analyses.
C. Descriptive analytics helps detect hidden patterns in large quantities of data to
group data into sets to predict behavior.
D. Descriptive analytics can use mathematical techniques with optimization to
make decisions that take into account the uncertainty in the data.
COMPLETE SOLUTIONS VERIFIED GRADED A+
Which of the following is not a challenge faced by organizations that want to
develop analytics capabilities?
A. profitability and customer satisfaction
B. competing business priorities
C. a lack of understanding of how to use analytics
D. difficulty in getting good data and sharing information
A. profitability and customer satisfaction
What does business analytics use to help managers make better decisions?
A. statistical analysis and quantitative methods
B. mathematical or computer-based models
C. data and information technology
D. all of the above
D. all of the above
True or False:
A deterministic model is one in which all model input information is either known
or assumed to be known with certainty.
, True
Which of the following statements is correct about prescriptive analytics?
A. Prescriptive analytics uses data to determine a course of action to be executed
in a given situation.
B. Prescriptive analytics detects patterns in historical data and extrapolates them
forward in time.
C. Prescriptive analytics identifies patterns and relationships existing in large
data sets.
D. Prescriptive analytics summarizes data into meaningful charts and reports that
can be standardized or customized.
A. Prescriptive analytics uses data to determine a course of action to be executed in a
given situation.
Which of the following statements is correct about descriptive analytics?
A. Descriptive analytics helps companies classify their customers into segments
to develop specific marketing campaigns.
B. Descriptive analytics can predict risk and find relationships in data not readily
apparent with traditional analyses.
C. Descriptive analytics helps detect hidden patterns in large quantities of data to
group data into sets to predict behavior.
D. Descriptive analytics can use mathematical techniques with optimization to
make decisions that take into account the uncertainty in the data.
