Test Bank for Business Analytics, 3rd Edition by Evans (All Chapters included)

, Business Analytics 3rd Edition Evans Test Bank
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Test Bank - Table of Contents
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Chapter 1: Introduction to Business Analytics
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Chapter 1: Appendix A1 Basic Excel Skills
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Chapter 2: Database Analytics
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Chapter 3: Data Visualization
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Chapter 4: Descriptive Statistics
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Chapter 5: Probability Distributions and Data Modeling
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Chapter 6: Sampling and Estimation
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Chapter 7: Statistical Inference
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Chapter 8: Trendlines and Regression Analysis
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Chapter 9: Forecasting Techniques
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Chapter 10: Introduction to Data Mining
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Chapter 11: Spreadsheet Modeling and Analysis
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Chapter 12: Simulation and Risk Analysis
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Chapter 13: Linear Optimization
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Chapter 14: Integer and Nonlinear Optimization Models
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Chapter 15: Optimization Analytics
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Chapter 16: Decision Analysis
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,Chapter 1: Introduction to Business Analytics
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1) Descriptive analytics: tb



A) can predict risk and find relationships in data not readily apparent with traditional analyses.
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B) helps companies classify their customers into segments to develop specific marketing
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campaigns.
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C) helps detect hidden patterns in large quantities of data to group data into sets to predict
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behavior.
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D) can use mathematical techniques with optimization to make decisions that take into account
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the uncertainty in the data.
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Answer: B tb



Diff: 1
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Blooms: Remember t b



Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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2) A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous
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quarter. Which of the following business analytics will help the manager?
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A) prescriptive analytics tb



B) normative analytics tb



C) descriptive analytics tb



D) predictive analytics tb



Answer: C
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Diff: 1 tb



Blooms: Apply t b



AACSB: Analytic
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Skills
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Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
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3) Predictive analytics: tb



A) summarizes data into meaningful charts and reports that can be standardized or customized.
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B) identifies the best alternatives to minimize or maximize an objective.
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C) uses data to determine a course of action to be executed in a given situation.
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D) detects patterns in historical data and extrapolates them forward in time.
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Answer: D
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Diff: 2 tb



Blooms: Remember t b



Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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1

, Chapter 1: tb Introduction to Business tb tb Business Analytics, 3e tb tb



Analytics 11

4) A trader who wants to predict short-term movements in stock prices is likely to use
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analytics.
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A) predictive
B) descriptive
C) normative
D) prescriptive
Answer: A
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Diff: 1
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Blooms: Apply t b



AACSB: Analytic
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Skills
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Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Explain the difference between descriptive, predictive, and prescriptive analytics.
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5) Which of the following questions will prescriptive analytics help a company address?
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A) How many and what types of complaints did they resolve?
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B) What is the best way of shipping goods from their factories to minimize costs?
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C) What do they expect to pay for fuel over the next several months?
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D) What will happen if demand falls by 10% or if supplier prices go up 5%?
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Answer: B
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Diff: 2 tb



Blooms: Understand tb



AACSB: Analytic
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Skills
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Topic: Descriptive, Predictive, and Prescriptive Analytics
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LO1: Illustrate examples of descriptive, predictive, and prescriptive analytics.
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6) The demand for coffee beans over a period of three months has been represented in the form
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of an L-shaped curve. Which form of model was used here?
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A) mathematical model tb



B) visual model tb



C) kinesthetic (tactile) model tb tb



D) verbal model tb



Answer: B
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Diff: 1
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Blooms: Apply t b



AACSB: Analytic
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Skills
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Topic: Models in Business Analytics
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LO1: Explain the concept of a model and various ways a model can be characterized.
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7) Decision variables: tb



A) cannot be directly controlled by the decision maker.tb tb tb tb tb tb tb



B) are assumed to be constant.
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C) are always uncertain.
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D) can be selected at the discretion of the decision maker.
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