35 Free Test Bank for Business Analytics 1st Edition by Evans 

35 free test bank for Business Analytics 1st Edition by Evans multiple choice questions do a good job as a powerful accounting textbook test bank that introduces you to business analytics via comprehensive coverage of chapter 1, bolsters your development of remembering, understanding and applying, and sharpen your analytic skills. Plus, the friendly format makes it easier for your practice and makes most of your exam study time. Once you finish answering those questions, kindly check the correctness of your results and mark by hitting submit button that is accessible at the bottom of the page. May you be strong enough to overcome difficulties ahead, be well rounded enough to ace your exams and be confident enough to smoothly move on with the promising career!

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A trader who wants to predict short-term movements in stock prices is likely to use ________ analytics.

•  A) predictive
•  B) descriptive
•  C) normative
•  D) prescriptive

Identify the uncontrollable variable from the following inputs of a decision model.

•  A) investment returns
•  B) machine capacities
•  C) staffing levels
•  D) intercity distances

Which of the following questions will prescriptive analytics help a company address?

•  A) How many and what types of complaints did they resolve?
•  B) What is the best way of shipping goods from their factories to minimize costs?
•  C) What do they expect to pay for fuel over the next several months?
•  D) What will happen if demand falls by 10% or if supplier prices go up 5%?

Which of the following is the mathematical model for deriving total cost of only manufacturing?

•  A) TC = VC + (C × Q)
•  B) TC = F + (C × Q)
•  C) TC = F + C
•  D) TC = F + (V × Q)

The product mix is determined by the:

•  A) accounting staff.
•  B) middle managers.
•  C) finance managers.
•  D) top managers.

The demand for coffee beans over a period of three months has been represented in the form of an L-shaped curve. Which form of model was used here?

•  A) mathematical model
•  B) visual model
•  C) kinesthetic model
•  D) verbal model

Prescriptive decision models help:

•  A) make predictions of how demand is influenced by price.
•  B) make trade-offs between greater rewards and risks of potential losses.
•  C) decision makers identify the best solution to decision problems.
•  D) describe relationships and influence of various elements in the model.

During which phase in problem solving is a formal model often developed?

•  A) analyzing the problem
•  B) structuring the problem
•  C) defining the problem
•  D) implementing the solution

Middle managers in operations:

•  A) develop staffing plans.
•  B) determine product mix.
•  C) develop advertising plans.
•  D) make pricing decisions.

Which of the following is an example of a measure of continuous metrics?

•  A) four errors revealed in an invoice
•  B) a delivery delayed by seven days
•  C) weight and volume of a sheet of steel
•  D) three incomplete orders on a day

Following are the components of a data set containing purchase details of a shoe manufacturing company. Identify the ratio data.

•  A) Item Number
•  B) Rank of suppliers
•  C) Item cost
•  D) Arrival Date

What is a database?

•  A) a collection of related files
•  B) simply a collection of data
•  C) a data file holding a single file
•  D) flat files used to store data

A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous quarter. Which of the following business analytics will help the manager?

•  A) prescriptive analytics
•  B) normative analytics
•  C) descriptive analytics
•  D) predictive analytics

When will a company use a predictive decision model?

•  A) when it wishes to determine the best product pricing to maximize revenue
•  B) when it wishes to know how best to use advertising strategies to influence sales
•  C) when it wishes to know sales patterns to plan inventory levels
•  D) when it wishes to ensure that a specified level of customer service is achieved

Which of the following is a disadvantage of ordinal data?

•  A) They bear no relationship to one another.
•  B) They have no fixed units of measurement.
•  C) They have no natural zero.
•  D) They are not comparable with each other.

Nominal data:

•  A) are ranked according to some relationship to one another.
•  B) have constant differences between observations.
•  C) are continuous and have a natural zero.
•  D) are sorted into categories according to specified characteristics.

Which decision model incorporates the uncertainty element?

•  A) predictive
•  B) normative
•  C) prescriptive
•  D) descriptive