Business Analytics: Data Analysis Decision Making,

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Business Analytics: Data Analysis & Decision Making,

7th Edition. S. Christian Albright, Wayne L. Winston Chapters 1 - 19, Complete 1 / 4

Chapter 1. Introduction to Business Analytics

• The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include

which of the following?

• optimization techniques b. decision analysis with uncertainty
• structured sensitivity analysis d. all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1-2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Which statement is not true?
• Dealing with uncertainty includes measuring uncertainty.
• Dealing with uncertainty includes modeling uncertainty explicitly into the analysis.
• Dealing with uncertainty includes eliminating uncertainty by using the normal probability

distribution.

• Dealing with uncertainty requires a basic understanding of probability.

ANSWER: c

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• What is not one of the important themes of your Business Analytics: Data Analysis & Decision Making text?
• data analysis b. dealing with uncertainty
• decision making d. data mining

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

4. Data analysis includes:

• data description b. data inference
• the search for relationships in data d. all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Which of the following is not one of the steps in the modeling process?
• Select the scale for the model.
• Collect and summarize data. 2 / 4

el

• Verify the model.
• Present the results.
• Implement the model and update it through time.

ANSWER: a

POINTS: 1

DIFFICULTY: Easy | Bloom's: Comprehension TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Which of the following would not be included under data analysis?
• measuring uncertainty b. data description
• data inference d. search for relationships

ANSWER: a

POINTS: 1

DIFFICULTY: Easy | Bloom's: Comprehension TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

7. The decision making process includes:

• optimization techniques for problems with no uncertainty
• decision analysis for problems with uncertainty
• sensitivity analysis
• all of these choices

ANSWER: d

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Which tool is an Exc

®

• PrecisionTree
• TopRank
• Solver
• @Risk
• StatTools

ANSWER: b

POINTS: 1

add-in for performing what-if analyses?DIFFICULTY: Easy | Bloom's: Comprehension TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Which of the following statements are true?
• Three important themes run through the book: data analysis, decision making, and uncertainty.
• Data analysis includes data description, data inference, and the searching for relationships in data
• Decision making includes optimization techniques for problems with no uncertainty,

decision analysis for problems with uncertainty, and structured sensitivity analysis. 3 / 4

• Dealing with uncertainty includes measuring uncertainty and modeling uncertainty explicitly into the

analysis.

• All of these statements are true.

ANSWER: e

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Data analysis includes data description, data inference, and the search for relationships in data.
• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Decision-making includes optimization techniques for problems with certainty, decision analysis

for problems with certainty, and structured sensitivity analysis.

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

12.A relatively new aspect of business analytics is big data, which typically implies the analysis of the very large data sets that companies currently encounter.

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

• Three important themes run through the Business Analytics: Data Analysis & Decision Making text:

data analysis, decision-making, and dealing with uncertainty.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Knowledge TOPICS: A-Head: 1.2 Overview of the Book

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