Created by QuickNotesPro
Solution Manual for Introduction to Business Analytics, 1st
Edition By Vernon Richardson and Marcia Watson | All
Chapter\'s (1-12)|Latest Version A+
Chapter 01 –
Chapter 1 End-of-Chapter Assignment Solutions
Multiple Choice Questions
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and
equipme nt to accomplish a specific business task is called.
a. business processes
b. business analysis
c. business procedure
d. business value
2. (LO 1.2) According to the information value chain, data combined with context is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to
commun icate results to the decision maker?
a. Specify the question
b. Obtain the data
1
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c. Analyze the data
d. Report the results
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most
appropriate data needed to address the business question?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next
quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can we
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, M
exico to Chicago, United States in the last quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
2
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c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
Chapter 01 –
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decr
easing, counter to expectations?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
8. (LO 1.5) Which questions help managers understand how to organize future shipments ba
sed on expected demand?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
3
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d. What should we do, based on what we expect will happen? How do we optimiz e
our performance based on potential constraints?
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data
sto red and used over time?
a. Data integrity
b. Data overload
c. Data value
d. Information value
10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically
test data is a
a. decision maker.
b. data scientist.
c. data analyst.
d. decision scientist.
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will
receive f rom its customers to help management evaluate future investments based on expected
investme nt performance, such as investments in equipment or employee training?
a. Marketing analyst
b. Operations analyst
c. Financial analyst
d. Accounting analyst
12. (LO 1.4) Which type of analyst addresses questions regarding tax and auditing?
a. Marketing analyst
4
Solution Manual for Introduction to Business Analytics, 1st
Edition By Vernon Richardson and Marcia Watson | All
Chapter\'s (1-12)|Latest Version A+
Chapter 01 –
Chapter 1 End-of-Chapter Assignment Solutions
Multiple Choice Questions
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and
equipme nt to accomplish a specific business task is called.
a. business processes
b. business analysis
c. business procedure
d. business value
2. (LO 1.2) According to the information value chain, data combined with context is
a. Information.
b. Knowledge.
c. Insight.
d. Value.
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to
commun icate results to the decision maker?
a. Specify the question
b. Obtain the data
1
,Created by QuickNotesPro
c. Analyze the data
d. Report the results
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most
appropriate data needed to address the business question?
a. Specify the question
b. Obtain the data
c. Analyze the data
d. Report the results
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next
quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can we
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, M
exico to Chicago, United States in the last quarter?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
2
,Created by QuickNotesPro
c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
Chapter 01 –
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decr
easing, counter to expectations?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
d. What should we do, based on what we expect will happen? How do we optimize our
performance based on potential constraints?
8. (LO 1.5) Which questions help managers understand how to organize future shipments ba
sed on expected demand?
a. What happened? What is happening?
b. Why did it happen? What are the causes of past results?
c. Will it happen in the future? What is the probability something will happen? Can w e
forecast what will happen?
3
, Created by QuickNotesPro
d. What should we do, based on what we expect will happen? How do we optimiz e
our performance based on potential constraints?
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data
sto red and used over time?
a. Data integrity
b. Data overload
c. Data value
d. Information value
10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically
test data is a
a. decision maker.
b. data scientist.
c. data analyst.
d. decision scientist.
11. (LO 1.4) Which type of analysts predicts the amount of money that a company will
receive f rom its customers to help management evaluate future investments based on expected
investme nt performance, such as investments in equipment or employee training?
a. Marketing analyst
b. Operations analyst
c. Financial analyst
d. Accounting analyst
12. (LO 1.4) Which type of analyst addresses questions regarding tax and auditing?
a. Marketing analyst
4
