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Exam 5: Business Analytics

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Question 1

Multiple Choice

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_____ attempts to find the value of the inputs necessary to achieve a desired level of output.

A) What-if analysis
B) Qualitative analysis
C) Sensitivity analysis
D) Goal-seeking analysis
E) Simulation

F) B) and C)
G) A) and E)

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Question 2

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The number of alternatives to be considered in decisions today is increasing.

A) True
B) False

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Question 3

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_____ is the acquisition and efficient use of resources in accomplishing organizational goals.

Decision-support systems support only lower- and middle-level managers.

A company wants to use data from past promotional mailings to identify people who would likely respond favorably to future mailings. This company would most likely use ____________.

The BI target "Development of infrastructure to support enterprise-wide BI" is closely aligned with corporate performance management.

Elena is trying to decide whether she should expand her ice cream shop to a bigger space. She decides to be very methodical about it and follow the phases of the decision-making process she learned in college. She has developed a few alternatives. Elena built a model in Excel so she could test her assumptions. This is an example of _______________.

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. She tells you she does data mining all day long. Which of the following statements is false?

Amanda is working for the CEO of a small company. He asks her to develop a dashboard. Amanda starts thinking about the questions she needs to ask. She asks her boss for his critical success factors and how he will measure them. The measures of CSF's are called _____________.

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. One of her recent projects was to use the insights from the data mining to determine the sales level that will cover expected expenses for the upcoming year for one product line. Sally will be doing:

A digital dashboard is very user friendly, supported by graphics, provides exception reporting and drill down, and provides information related to critical success factors.

The primary distinguishing characteristic of geographical information systems is ______________.

Sally is working for her uncle for the summer in the marketing department of Proctor & Gamble. One of her recent projects was to build a model of revenue that would allow her boss to test a variety of price points against forecasts of units sold for each product in a product line. Sally will be doing:

Structured decisions address routine, repetitive problems for which standard solutions exist.

Which of the following is not a basic role of managers?

In the _____ phase of the decision-making process, managers test potential solutions "on paper."

Which capability of digital dashboards enables users to obtain the latest data available on key performance indicators or some other metric, ideally in real time?

A manager's primary function is strategic planning.

In the implementation phase of the decision-making process, managers set criteria for the evaluation of alternative potential solutions.

Searching for valuable business information in a database, data warehouse, or data mart is referred to as _____.