Exam 1: Business Analytics With Management Science

A) Reliance on spreadsheet modeling
B) Connection of optimization models with live operational databases
C) The use of distributed file systems technologies such as Hadoop to process a variety of data sources
D) All of the above

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A) The amount of data available is significantly increased due to automatic data capture technologies.
B) The rate at which data flow into an organization has increased due to online sales, mobile computing, smartphones, and online social networks.
C) The number of sources and data formats has increased due to the increase of data capture technologies such as text and images from online social networks, images and voice from a camera, and voice recognition technologies, among others.
D) All of the above describe the volume of Big Data.

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A) Mean
B) Standard deviation
C) Variance
D) Stem and leaf diagrams
E) All of the above

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A) They are based on aggregated inputs, and their validity improves with high-volume data.
B) They often require iterative approaches to find optimal solutions.
C) Both a and b
D) None of the above

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A) Databases and data warehouses
B) Descriptive analytics
C) Predictive analytics
D) Prescriptive analytics

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A) Analytics includes statistics and other components such as databases, data warehouses, and optimization techniques.
B) Statistics includes analytics and other components such as databases, data warehouses, and optimization techniques.
C) Analytics and statistics are two completely different fields of study.
D) There is no difference; these concepts can be used interchangeably.

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A) Big Data is sometimes associated with inaccurate information.
B) Mathematical models are often created through the process of abstraction.
C) Mathematical models often allow relevant information to enter the model.
D) All of the above

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A) A set of tools and techniques used to retrieve, process, transform, and analyze data in order to generate business insights
B) A set of tools and techniques used to retrieve, process, transform, and analyze data in order to make better decisions
C) The use of data for better decision making
D) All of the above are good definitions of business analytics.

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A) Statistical analysis and reliability of predictions are better when the population size increases.
B) A forecasting method with many input factors can predict better than the one with only a few input factors.
C) More data beats better modeling.
D) All of the above

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A) LinkedIn uses information about its members that is housed in operational databases.
B) LinkedIn organizes information about its members in a data warehouse.
C) LinkedIn uses prescriptive analytics to generate reports and discover patterns.
D) LinkedIn uses predictive analytics to discover that speed is very important in receiving positive responses.
E) All of the above accurately describe LinkedIn's approach to its "People You May Know" campaign.

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A) Histograms
B) Quartiles
C) Frequency distributions
D) Neural networks
E) All of the above

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A) Spreadsheets are easy to use and available at universities and other organizations.
B) Spreadsheet modeling offers a high degree of data integrity.
C) Spreadsheet models can be more accurate than specialized optimization software programs.
D) All of the above

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A) The amount of data available is significantly increased due to automatic data capture technologies.
B) The rate at which data flow into an organization has increased due to online sales, mobile computing, smartphones, and online social networks.
C) The number of sources and data formats has increased due to the increase of data capture technologies such as text and images from online social networks, images and voice from a camera, and voice recognition technologies, among others.
D) All of the above describe the volume of Big Data.

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A) Storing information about you and loading it into data warehouses
B) Investigating correlations, sampling customer data, and summarizing data
C) Determining the clothing item that you will most likely order on your next visit
D) Offering coupons or discounts to maximize sales or profits

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