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Data Analysis and Decision Making 4e Christian Albright Wayne Winston Christopher Zappe
(Test Bank all Chapter)
(For Complete File, Download link at the end of this File)
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CHAPTER 1: Introduction to Data Analysis and Decision Making
MULTIPLE CHOICE
- The decision-making concepts covered in Data Analysis & Decision Making book include which of
- Optimization techniques c. Structured sensitivity analysis
- Decision analysis with uncertainty d. All of these options
the following?
ANS: D PTS: 1 MSC: AACSB: Analytic
- Which of the following statements 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
- Uncertainty is a key aspect of most business problems, and dealing with uncertainty
distribution
requires a basic understanding of probability
ANS: C PTS: 1 MSC: AACSB: Analytic
- Which of the following is not one of the important themes of your Data Analysis & Decision Making
- Data analysis c. Decision making
- Dealing with uncertainty d. Data mining
book?
ANS: D PTS: 1 MSC: AACSB: Analytic
- Data analysis includes
- data description c. the search for relationships in data
- data inference d. All of these options
ANS: D PTS: 1 MSC: AACSB: Analytic
- Which of the following is not one of the steps in the modeling process?
- Select scale for model
- Collect and summarize data
- Verify the model
- Present the results
- Implement the model and update it through time
ANS: A PTS: 1 MSC: AACSB: Analytic
- Which of the following would not be included under data analysis?
- Measuring uncertainty c. Data inference
- Data description d. Search for relationships
ANS: A PTS: 1 MSC: AACSB: Analytic
- The decision making process includes
- optimization techniques for problems with no uncertainty
- decision analysis for problems with uncertainty
- sensitivity analysis
- All of the above
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ANS: D PTS: 1 MSC: AACSB: Analytic
- Which of the following is not one of the types of models described in Data Analysis & Decision
- Algebraic model c. Scale model
- Spreadsheet model d. Graphical model
Making book?
ANS: C PTS: 1 MSC: AACSB: Analytic
- The modeling process discussed in Data Analysis & Decision Making book is a
- seven-step process
- six-step process
- five-step process
- four-step process
- three-step process
ANS: A PTS: 1 MSC: AACSB: Analytic
- Which of the following is Excel add-in for performing what-if analyses?
- PrecisionTree
- TopRank
- Solver
- @Risk
- StatTools
ANS: B PTS: 1 MSC: AACSB: Analytic
- Which of the following statements are false?
- The modeling process discussed in Data Analysis & Decision Making book is five- step
- Dealing with uncertainty requires a basic understanding of probability
- Uncertainty is a key aspect of most business problems
- Data description and data inference are included under data analysis
process
ANS: A PTS: 1 MSC: AACSB: Analytic
- Which of the following statements are false?
- Decision-making includes optimization techniques for problems with certainty, decision
- Graphical models can be very helpful for simple problems. For complex problems,
- Dealing with uncertainty includes measuring uncertainty and modeling uncertainty
- All of these options
analysis for problems with certainty, and structured sensitivity analysis.
however, graphical models usually fail to show the important elements of a problem and how they are related.
explicitly into the analysis.
ANS: C PTS: 1 MSC: AACSB: Analytic
13. Which of the following statements are true:
- A fairly recent alternative to algebraic modeling is spreadsheet modeling. Instead of
- Data are usually meaningless until they are analyzed for trends, patterns, relationships, and
- Algebraic models, by means of algebraic equations and inequalities, specify a set of
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relating various quantities with algebraic equations and inequalities, we relate them in a spreadsheet with cell formulas.
other useful information
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