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Business Analytics Exam 1 questions with correct answers.
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Business Analytics Exam 1 questionswith correct answers.
Which of the following is the definition of decision making you learned from this class?
A) It is to maximize profit.
B) It is to choose among alternative courses of action to improve organization performance.
C) It is to provide leadership for an organization.
D) It is to minimize costs.
E) It is to make successful business plans. ANS - B) It is to choose among alternative courses of action to
improve organization performance.
What is the sequence of the decision making process? ANS - 1. Define a decision making situation
2. Determine the criteria used to evaluate alternative solutions
3. Identify alternative solutions
4. Evaluate each alternative using the chosen criteria
5. Choose one alternative
What are 4 characteristics of a business analytics approach to decision making? ANS - 1. fact-based
2. data-driven
3. scientific
4. computer-assisted
What type of analytics asks "What should happen?" ANS - Prescriptive Analytics
What type of analytics asks "What could happen?" ANS - Predictive Analytics
What type of analytics asks "What has happened?" ANS - Descriptive Analytics
,Descriptive analytics techniques include the following EXCEPT:
A) What-If analysis
B) Data-mining
C) Simulations
D) Data queries
E) Reports ANS - C) Simulations
What does SQL stand for? ANS - Structured Query Language
Which 3 of the following are characteristics of big data?
A) Validity
B) Valence
C) Volume
D) Variety
E) Vitality
F) Veracity ANS - C) Volume
D) Variety
F) Veracity
Which 1 of the following is a predictive analytics software tool?
A) IBM SPSS Modeler
B) Oracle
C) Regression tree
D) Simulation
E) Time-Series forecasting ANS - A) IBM SPSS Modeler
, Which 1 of the following is a prescriptive analytics technique?
A) Cluster analysis
B) Decison rules
C) Linear regression
D) What-If analysis
E) Simulation ANS - B) Decison rules
We discussed many business analytics applications in various business domain in this class. Which 2 of
the following is explicitly cited as an illustrative example?
A) Artificial intelligence
B) Accounting
C) Health care
D) Statistics
E) Sports ANS - C) Health care
E) Sports
Business Analytics tools are essentially _____. ANS - software
Which 3 of the following Business Analytics functionalities will be covered in this class?
A) Data analysis
B) Data warehousing
C) Data reporting
D) Data pre-processing
E) Data management
F) Data outsourcing ANS - A) Data analysis
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