Question 1

Which of the following inputs of a decision model is an example of data?

Accepted Answer

A) estimated consumer demand 
B) inflation rates 
C) costs 
D) investment allocations 
A) estimated consumer demand 
B) inflation rates 
C) costs 
D) investment allocations

Question 2

Which of the following is the mathematical model for deriving the break-even volume?

Accepted Answer

A) Q = (C - V
C) + F 
B) Q = F / (C -V) 
C) Q = (V + 
C) / F 
D) Q = F / (VC - 
C)  
A) Q = (C - V
C) + F 
B) Q = F / (C -V) 
C) Q = (V + 
C) / F 
D) Q = F / (VC - 
C)

Question 3

When data is classified by the type of measurement scale, which is the strongest form of measurement?

Accepted Answer

A) nominal 
B) interval 
C) ordinal 
D) ratio 
A) nominal 
B) interval 
C) ordinal 
D) ratio

Question 4

Which of the following is the first phase in problem solving?

Accepted Answer

A) defining the problem 
B) analyzing the problem 
C) recognizing the problem 
D) structuring the problem 
A) defining the problem 
B) analyzing the problem 
C) recognizing the problem 
D) structuring the problem

Question 5

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

Accepted Answer

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 
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

Question 6

How many gallons will be sold if the price is increased to $4.75?

Accepted Answer

A) 833.26 
B) 843 
C) 798.72 
D) 818 
A) 833.26 
B) 843 
C) 798.72 
D) 818

Question 7

Which decision model incorporates the uncertainty element?

Accepted Answer

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

Question 8

Why do predictive decision models incorporate uncertainty?

Accepted Answer

The future is always uncertain.Uncertain

Question 9

What is the slope of the sales function D = a - bP?

Accepted Answer

A) 4 
B) 9 
C) 12 
D) 17 
A) 4 
B) 9 
C) 12 
D) 17

Question 10

The manager at Soul Walk Inc., a shoe manufacturing company, wants to set a new price (P)for a shoe model to maximize total profit.The demand (D)as a function of price is represented as:
D = 1,500 - 2.5P
The total cost (C)as a function of demand is represented as:
C = 3,200 + 3.5D
Which of the following is a model for total profit as a function of price?

Accepted Answer

A)  (1,491.25 × price)- (2.5 × price²)- 8,450 
B)  (3.5 × price²)+ 3,200 - (1925.50 × price) 
C)  (1,250 × price)+ (5 × price²)- 8,320 
D) [4521 + (4.5 × price)] × price - 9684.25 
A)  (1,491.25 × price)- (2.5 × price²)- 8,450 
B)  (3.5 × price²)+ 3,200 - (1925.50 × price) 
C)  (1,250 × price)+ (5 × price²)- 8,320 
D) [4521 + (4.5 × price)] × price - 9684.25

Which of the following inputs of a decision model is an example of data?

Which of the following is the mathematical model for deriving the break-even volume?

When data is classified by the type of measurement scale, which is the strongest form of measurement?

Which of the following is the first phase in problem solving?

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

How many gallons will be sold if the price is increased to $4.75?

Which decision model incorporates the uncertainty element?

Why do predictive decision models incorporate uncertainty?

What is the slope of the sales function D = a - bP?

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Predictive Modeling and Analysis

Regression Analysis

Forecasting Techniques

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

Decision Analysis

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Exam 1: Introduction to Business Analytics

Which of the following inputs of a decision model is an example of data?

Which of the following is the mathematical model for deriving the break-even volume?

When data is classified by the type of measurement scale, which is the strongest form of measurement?

Which of the following is the first phase in problem solving?

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

How many gallons will be sold if the price is increased to $4.75?

Which decision model incorporates the uncertainty element?

Why do predictive decision models incorporate uncertainty?

What is the slope of the sales function D = a - bP?

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Predictive Modeling and Analysis

Regression Analysis

Forecasting Techniques

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

Decision Analysis

Filters