Question 1

Which of the following statements does not reflect LinkedIn's approach to its "People You May Know" campaign?

Accepted Answer

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. 
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.

Question 2

Which of the following is a tool commonly used in descriptive statistics?

Accepted Answer

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

Question 3

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the variety of data?

Accepted Answer

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. 
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.

Question 4

What is the difference between analytics and statistics?

Accepted Answer

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. 
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.

Question 5

Which of the following types of data is not included in the Big Data domain?

Accepted Answer

A)  Structured, in-house operational databases 
B)  Structured, external databases 
C)  Non-structured data from social networks 
D)  Web server logs 
E)  All of the above data types are part of Big Data. 
A)  Structured, in-house operational databases 
B)  Structured, external databases 
C)  Non-structured data from social networks 
D)  Web server logs 
E)  All of the above data types are part of Big Data.

Question 6

What is business analytics?

Accepted Answer

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. 
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.

Question 7

Which of the following describes the change in the nature of management science to accommodate the need to process high-velocity data?

Accepted Answer

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 
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

Question 8

The increase in the amount of data available due to automatic data capture technologies is an example of Big Data velocity.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is an advantage of using Excel modeling for prescriptive analytics?

Accepted Answer

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 
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

Question 10

Which of the following explains why Big Data models can sometimes lead to poor business results, conclusions, and recommendations?

Accepted Answer

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 
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

Question 11

Predictive analytics uses statistical modeling to draw conclusions and predict behavior based on the assumption that what has happened in the past will continue to happen.

Accepted Answer

A) True 
 B)False

Question 12

How do prescriptive models benefit from Big Data?

Accepted Answer

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 
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

Question 13

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the volume of data?

Accepted Answer

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. 
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.

Question 14

The main goal of prescriptive analytics is to summarize a sample, not use data to learn about the population that the sample of data is thought to represent.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not a tool commonly used in descriptive statistics?

Accepted Answer

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

Question 16

The examples of Target, LinkedIn, First Tennessee, and many other companies that have implemented data analytics initiatives indicate that business analytics programs are more successful in large corporations.

Accepted Answer

A) True 
 B)False

Question 17

Mathematical models are often created through the process of abstraction and, as a result, can produce inaccurate results.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following supports the assessment that descriptive and predictive analytics benefit from a high volume of data?

Accepted Answer

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 
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

Question 19

Which of the following fields of business analytics uses optimization, heuristics, and/or simulation models to prescribe the best courses of action?

Accepted Answer

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

Question 20

Assume that you are a regular customer of a clothing store. Which of the following best describes the prescriptive analytics component used by the store to make you a more valuable customer?

Accepted Answer

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 
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

Which of the following statements does not reflect LinkedIn's approach to its "People You May Know" campaign?

Which of the following is a tool commonly used in descriptive statistics?

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the variety of data?

What is the difference between analytics and statistics?

Which of the following types of data is not included in the Big Data domain?

What is business analytics?

Which of the following describes the change in the nature of management science to accommodate the need to process high-velocity data?

The increase in the amount of data available due to automatic data capture technologies is an example of Big Data velocity.

Which of the following is an advantage of using Excel modeling for prescriptive analytics?

Which of the following explains why Big Data models can sometimes lead to poor business results, conclusions, and recommendations?

Predictive analytics uses statistical modeling to draw conclusions and predict behavior based on the assumption that what has happened in the past will continue to happen.

How do prescriptive models benefit from Big Data?

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the volume of data?

The main goal of prescriptive analytics is to summarize a sample, not use data to learn about the population that the sample of data is thought to represent.

Which of the following is not a tool commonly used in descriptive statistics?

The examples of Target, LinkedIn, First Tennessee, and many other companies that have implemented data analytics initiatives indicate that business analytics programs are more successful in large corporations.

Mathematical models are often created through the process of abstraction and, as a result, can produce inaccurate results.

Which of the following supports the assessment that descriptive and predictive analytics benefit from a high volume of data?

Which of the following fields of business analytics uses optimization, heuristics, and/or simulation models to prescribe the best courses of action?

Assume that you are a regular customer of a clothing store. Which of the following best describes the prescriptive analytics component used by the store to make you a more valuable customer?

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters

Exam 1: Business Analytics With Management Science

Which of the following statements does not reflect LinkedIn's approach to its "People You May Know" campaign?

Which of the following is a tool commonly used in descriptive statistics?

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the variety of data?

What is the difference between analytics and statistics?

Which of the following types of data is not included in the Big Data domain?

What is business analytics?

Which of the following describes the change in the nature of management science to accommodate the need to process high-velocity data?

The increase in the amount of data available due to automatic data capture technologies is an example of Big Data velocity.

Which of the following is an advantage of using Excel modeling for prescriptive analytics?

Which of the following explains why Big Data models can sometimes lead to poor business results, conclusions, and recommendations?

Predictive analytics uses statistical modeling to draw conclusions and predict behavior based on the assumption that what has happened in the past will continue to happen.

How do prescriptive models benefit from Big Data?

Big Data is usually characterized by three Vs: volume, velocity, and variety. Which of the following statements best describes the volume of data?

The main goal of prescriptive analytics is to summarize a sample, not use data to learn about the population that the sample of data is thought to represent.

Which of the following is not a tool commonly used in descriptive statistics?

The examples of Target, LinkedIn, First Tennessee, and many other companies that have implemented data analytics initiatives indicate that business analytics programs are more successful in large corporations.

Mathematical models are often created through the process of abstraction and, as a result, can produce inaccurate results.

Which of the following supports the assessment that descriptive and predictive analytics benefit from a high volume of data?

Which of the following fields of business analytics uses optimization, heuristics, and/or simulation models to prescribe the best courses of action?

Assume that you are a regular customer of a clothing store. Which of the following best describes the prescriptive analytics component used by the store to make you a more valuable customer?

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters