Intro to Business Analytics Final Exam Questions & Answers Correct!!
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Course
Intro to Business Analytics
Institution
Intro To Business Analytics
Do reading Assignments for Week 10 again (seven of them) - ANSWERSbelow
1) Computer History Timeline Reading - ANSWERSBasically started with more of a calculator/giant room size thing and then went down to super small chips
Took a lot of time and effort!
2) chapters 1 and 2 of information ...
Intro to Business Analytics Final Exam
Questions & Answers Correct!!
Do reading Assignments for Week 10 again (seven of them) - ANSWERSbelow
1) Computer History Timeline Reading - ANSWERSBasically started with more of a
calculator/giant room size thing and then went down to super small chips
Took a lot of time and effort!
2) chapters 1 and 2 of information systems - ANSWERS-you dont always need the
highest precision
-computers are the basis of using information correctly and intelligently - page 23 has
key terms for ch 1
-the industry of a company is the value chain
-strategy determines the response of competitive forces
3) Why AI will create jobs - ANSWERS-people are worried that AI is going to take over
the world
-but it is really creating jobs, but people just need to know how to use AI
--also, things that used to be luxuries are not needs, and jobs are opening in the areas
of that need
--a ton of kids in school will end up doing jobs that don't exist yer
4) Will robots take our children's jobs? - ANSWERS-so basically, every job is going to
be taken over by robots??
-jobs that enjoy creative thinking enjoy some protection as do jobs that involve empathy
and interpersonal communication
5) Issue Explanation, 6) Please Don't Fire Us?, 7) Positive impact of industrial robots on
employment - ANSWERS-more robots taking jobs!
-automation of jobs has already been happening for a while and we have adapted to
change and create new jobs around new technologies
- basically, the future will be positively impacted by robots by creating jobs to use
Reading assignments for week 11 (3 of them) - ANSWERS
Chapter 1 (except sections 1.4 and 1.5) - ANSWERS
Chapter 1, section 1.5 - ANSWERS-process = consists of one or more actions that
transform inputs into outputs
,Three categories of business processes:
-upper-management processes
^operation of the entire organization
-operational processes
^purchasing, production, sales, marketing
-supporting processes
^accounting, IT
ideally, output = demand
process variation -> four sources of variation
1) the variety of goods or services being offered
-the greater the variety of goods and services, the greater the variation in production or
service requirements
2) structural variation of demand
-variations are generally predictable
3) random variation
- natural variability is present in the processes and demand
4) assignable variation
-caused by defective inputs, incorrect work - caused by error and can be reduced with
corrective action
^ you deal with variation by looking at means and standard deviations
Chapter 6, sections 6.1 and 6.2 - ANSWERS6.1 ->
-process selection = deciding the way that the production of goods or services will be
organized
-process strategy = how an organization approaches process selection
--capital intensity = the mix of equipment and labor that will be used by the organization
--process flexibility = the degree to which the system can be adjusted to change with the
processing requirements
6.2 ->
-process choice is demand driven
--how much variety and volume will the process need to be able to handle?
variety and volume are inversely related
-high level of one = low level of the other
-need for flexibility of personnel and equipment is directly related to the level of variety
the process will need to handle
--lower variety = less need for flexibility
, -process types:
1) job shop
-used when low volume of high-variety goods or services will be needed
-processing is intermittent
-work includes small jobs, each with different processing requirements
-need general-purpose equipment and skilled workers
example: vets office
2)batch
-moderate volume of goods or services is required and it can handle a moderate variety
in products or services
-equipment is not as flexible as job shop, but processing is still intermittent
-skill level of workers can be lower than job shop
examples: bakeries, movie theaters, airlines
3) repetitive
-higher volumes of more standardized goods or services
-only slight flexibility of equipment, generally low-skilled workers
-referred to as assembly and mass customization is an option
examples: TV sets, automobiles, automatic carwash
4) continuous
-high volume of non-discrete, highly standardized output
-no variety in output and no flexibility
-workers skill can range from low to high but if equipment is highly specialized, then skill
is lower
-want to match process capabilities to match product requiremen
reading assignments for week 12 (three of them) - ANSWERS
What is six sigma chapters 1-4 - ANSWERSsix sigma is customer focused
six sigma projects produce major returns on investment
six sigma changes how management operates
it is a
1) statistical measure of the performance of a process or a product
2) a goal that reaches near perfection for performance improvement
3) a system of management to achieve lashing business leadership and world-class
performance
six themes of six sigma:
1) genuine focus on the customer
2) data-and fact- driven management
3) processes are where the action is
4) proactive management
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