Test Bank all Chapters

Business Analytics Data Analysis & Decision Making, 7e Christian Albright, Wayne Winston (Test Bank all Chapters)

• / 4

Chapter 01: Introduction to Business Analytics

Copyright Cengage Learning. Powered by Cognero. Page 1

True / False

• Data analysis includes data description, data visualization, data inference, and the search for relationships in

data.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Remember

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• 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: Remember

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• 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: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Remember

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.1 Introduction OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data 2 / 4

Chapter 01: Introduction to Business Analytics

Copyright Cengage Learning. Powered by Cognero. Page 2

analysis, decision-making, and dealing with uncertainty.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Remember

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• Decision trees and simulations cannot be implemented with the built-in or add-in tools in Excel

® .

• True
• False

ANSWER: False

POINTS: 1

DIFFICULTY: Easy | Bloom's: Understand

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Data Methods

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• Although it is relatively easy to collect data, it can be more challenging to understand what the data mean.
• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Understand

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Data Methods

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• When we use simulation models to help make decisions, we do not deal with uncertainty, because we can

carry out calculations and avoid performing inferences.

• True
• False

ANSWER: False 3 / 4

Chapter 01: Introduction to Business Analytics

Copyright Cengage Learning. Powered by Cognero. Page 3

POINTS: 1

DIFFICULTY: Easy | Bloom's: Understand

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• We must deal with uncertainty when we make inferences from data and search for relationships in data, or

when we use decision trees to help make decisions.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Understand

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Decision Making

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• @Risk is an Excel

® add-in that can be used to conduct a simulation.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Understand

QUESTION TYPE: True / False

HAS VARIABLES: False

TOPICS: A-Head: 1.2 Overview of the Book OTHER: BUSPROG: Analytic | DISC: Data Methods

DATE CREATED: 1/14/2019 12:07 PM

DATE MODIFIED: 3/27/2019 12:14 PM

• The authors of the Business Analytics: Data Analysis & Decision Making text use spreadsheet modeling,

particularly Excel spreadsheets, where the essential elements are entered for further analysis.

• True
• False

ANSWER: True

POINTS: 1

DIFFICULTY: Easy | Bloom's: Remember

QUESTION TYPE: True / False

• / 4