Exam 1: Introduction to Business Analytics

A few ways to enhance the readability of a spreadsheet model is to use a clear,logical layout of the overall model,and to use clear headings for different sections of the model and for all inputs,decision variables,and outputs.

When we use simulation models to help make decisions,we do not deal with uncertainty,because we can carry out calculations and avoid performing inferences.

Spreadsheet modeling is the process of entering the outputs into a spreadsheet and then relating them appropriately,by means of formulas,to obtain the decision variables.

The authors of the Business Analytics: Data Analysis & Decision Making text use spreadsheet modeling,particularly Excel spreadsheets,where the essential elements are entered for further analysis.

Excel's IF function can be used to determine if an expression is true or false.

The decision-making themes covered in Business Analytics: Data Analysis & Decision Making include which of the following?

Spreadsheet models typically involve inputs,decision variables,and outputs.

Three important themes run through the Business Analytics: Data Analysis & Decision Making text: data analysis,decision-making,and dealing with uncertainty.

Decision making includes optimization techniques for problems with certainty,decision analysis for problems with certainty,and structured sensitivity analysis.

The decision making process includes

Data analysis includes

We must deal with uncertainty when we make inferences from data and search for relationships in data,or when we use decision trees to help make decisions.

Which of the following would not be included under data analysis?

​Although it is relatively easy to collect data,it can be more challenging to understand what the data mean.

A relatively new aspect of business analytics is big data,which typically implies the analysis of the very large data sets that companies currently encounter.

Which statement is not true?

Data analysis includes data description,data visualization,data inference,and the search for relationships in data.

Which of the following is not one of the "intermediate" features of Excel that the authors expect you to be able to use?

Which of the following statements are true?

Which of the following is true?