Dsci exam 1 - Study guides, Class notes & Summaries

The function that is part of every business organization that produces products and/or delivers services is the __________ function. - correct answer Operations Which of the following is a key difference between the production of goods and the delivery of services? - correct answer The feasibility of using inventory Operations and sales are __________ functions; all other functions are __________ functions. - correct answer line; support One thing that must be managed in all proce...

What is MIS? - correct answer - Management Information systems - A business function, like accounting and human resources, which moves information about people, products, and processes across the company to facilitate decision making and problem solving What is the primary driver of IT in business? - correct answer From the first lecture: "The big point: Business drives the tech. The problems of modern business desire a need for modern technological solutions." What is the long tail...

T or F: Exponential smoothing adds a percentage (called alpha) of the last period's forecast to estimate the next period's demand. - correct answer FALSE - Exponential smoothing does not add a percentage to the last period's forecast error. T or F: Statistical process control focuses on the acceptability of process output. - correct answer FALSE - Statistical process control focuses on the variability of processes. T or F: Control limits tend to be wider for more variable processes. -...

DSCI 300 Exam 1 Actual Questions With Complete Answers Guaranteed Passed

Describe the quantitative analysis approach - correct answer -the process of analyze information to make final decision. Include unpredictable things that affect the decision-making process (weather, state, federal legislation Understand the application of quantitative analysis approach in real situation. The 7 step of QA approach: - correct answer +Define the problem +Develop a model +Acquire input data +Develop a ...

UNT DSCI Exam 2 2023/2024 random experiment conditions - ANSWER- is one distinct outcome for each trial outcome is uncertain 3. the set of all outcomes can be specified with certainty and is called a sample space (S) outcome - ANSWER-any member of a sample space Example: A coin, S= {Head, Tails} event - ANSWER-a set of outcomes subjective probability - ANSWER-personal belief on occurrence (life experiences) objective probability - ANSWER-the occurrence is based on recorded...

Business Decision Modeling can be referred to as: - correct answer 1. Management science 2. Operations research 3. Quantitative analysis 4. Operations management Companies using Management Science - correct answer 1. SABRE Decision Technologies (airline reservation system) 2. Signet Bank, Capital One (credit card and financial mgmt) 3. Union Pacific (freight transportation) 4. Ernst & Young (forecasting) A cons...

T/F Consider an SRS drawn from a large non-Normal population. When the sample size is large (greater than or equal to 30), the sample mean has approximately a Normal distribution regardless of the population distribution. - correct answer True The standard deviation of a t distribution depends on its degrees of freedom while the mean of a t distribution is always zero. - correct answer true A t procedure can be used for a highly skewed distribution when the sample size is large, roughl...

Statistics - correct answera science dealing with the collection, analysis, interpretation and presentation of numerical data Variable - correct answerthe characteristic of an entity being studied that's capable of taking on different values 1. Descriptive 2. Inferential - correct answerTwo types of statistics? Inductive - correct answerInferential is also known as Descriptive - correct answerGather data on a group or body, analyze data, and use results to reach conclusions about t...