Business Intelligence
Exam Questions
Course Introduction
Business Intelligence is a comprehensive course that explores the processes, methodologies, and technologies used to transform raw data into meaningful information for business decision-making. Students will learn about data warehousing, data mining, online analytical processing (OLAP), and performance management, gaining insights into how organizations use business intelligence systems to gain a competitive edge. The course covers both the technical tools and the strategic considerations involved in collecting, analyzing, and visualizing data, with practical applications and case studies that demonstrate real-world usage in various industries.
Recommended Textbook
Business Analytics 1st Edition by James R. Evans
Available Study Resources on Quizplus
18 Chapters
990 Verified Questions
990 Flashcards
Source URL: https://quizplus.com/study-set/772
Page 2
Chapter 1: Introduction to Business Analytics
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15128
Sample Questions
Q1) Explain how data is used by accountants, economists, and operations managers.
Answer: Following are the ways data are used:
Accountants conduct audits to determine whether figures reported on a firm's balance sheet fairly represent the actual data by examining samples (that is, subsets)of accounting data, such as accounts receivable.
Economists use data to help companies understand and predict population trends, interest rates, industry performance, consumer spending, and international trade. Operations managers use data on production performance, manufacturing quality, delivery times, order accuracy, supplier performance, productivity, costs, and environmental compliance to manage their operations.
Q2) Which decision model incorporates the uncertainty element?
A)predictive
B)normative
C)prescriptive
D)descriptive
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Analytics on Spreadsheets
Available Study Resources on Quizplus for this Chatper
52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/15129
Sample Questions
Q1) Which of the following formula is used to make the recording decision in B20?
A)=IF(B19>0,"In-house","Studio")
B)=IF(B19<=0,"Studio","In-house")
C)=SUM(B19<=0,"Studio")
D)=IF(B19>0,"Studio","In-house")
Answer: D
Q2) If cell G7 contains the function ________, it states that if the value in cell C3 is 9, the number 7 will be assigned to cell G7; if the value in cell C3 is not 9, the number 4 will be assigned to cell G7.
A)=IF(G7=9) (G7=7)=OR(G7=4)
B)=IF(G7=7)=THEN(C3=9)=OR(C3=4)
C)=IF(C3=9) (C3=7)=OR(C3=4)
D)=IF(C3=9,7,4)
Answer: D
Q3) Which of the following symbols is used to represent exponents in Excel?
A)^
B)*
C)#
D)!
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Visualizing and Exploring Data
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15130
Sample Questions
Q1) Fewer groups provide a "coarse" histogram.
A)True
B)False
Answer: True
Q2) What is the rank of the 42 percentile of the costs per order ? A)17
B)13.35 C)19
D)33.75
Answer: C
Q3) Describe how to and construct a line chart exhibiting the purchase order of ceramic plates over the three months.
Answer: Filter the data set by Item (Ceramic Plate).Sort the Order Date by Oldest to Newest.Select the entire data and choose the type of chart (Line Chart)from the Charts group under the Insert tab.Change the title and make data and formatting changes where necessary.
11ea30b2_91fc_3c23_b0fd_9f5305cfce02_TB3611_00
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Descriptive Statistical Measures
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/15131
Sample Questions
Q1) The coefficient of skewness is computed as ________.
A) CS = \(\sum_{i=1}^{N}\left(x_{i}-\bar{x}\right.\) )³
B)CS = \(\sqrt { \frac { \sum _ { i = 1 } ^ { N } \left( x _ { i } - \mu \right) ^ { 3 } } { \sigma ^ { 3 } } }\)
C)CS = \(\frac{\sum_{i=1}^{N}\left(x_{i}-\mu\right)^{2}}{\sigma^{2}}\)
D)CS = \(\frac{\frac{1}{N} \sum_{i=1}^{N}\left(x_{i}-\mu\right)^{3}}{\sigma^{3}}\)
Q2) According to the interquartile range, extreme outliers are more than 3*IQR away from the left of Q1 or to the right of Q3.
A)True
B)False
Q3) Which of the following is true of the coefficient of skewness (CS)?
A)If the CS is positive, the distribution of values tails off to the left.
B)If the CS value is between 0.5 and 1, the skewness is considered to be moderate.
C)If the CS is closer to zero, the degree of skewness is considered to be high.
D)If the CS value is between -0.5 and -1, the skewness is considered negligible.
Q4) Give an account of Excel's Descriptive Statistics Tool.
Q5) How can outliers be identified in a data set?
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Probability Distributions and Data Modeling
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15132
Sample Questions
Q1) Consider an event X comprised of three outcomes whose probabilities are \(\frac{9}{18}, \frac{1}{18}, \text { and } \frac{6}{18}\) Compute the probability of the complement of the event.
A) \(\frac{2}{18}\)
B)\(\frac{1}{2}\)
C)\(\frac{16}{3}\)
D)\(\frac{16}{18}\).
Q2) How are probability, experiment, outcome, and sample space related to each other?
Q3) What is the probability that profit will be between $2,000 and $2,200?
Q4) Compute the variance of the random variable that denotes the possible summed scores from the two spinners.
Q5) If P(X|Y)= P(X), it implies that event Y is dependent on event X.
A)True
B)False
Q6) What is a random number? How is it generated in Excel?
Page 7
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Sampling and Estimation
Available Study Resources on Quizplus for this Chatper
59 Verified Questions
59 Flashcards
Source URL: https://quizplus.com/quiz/15133
Sample Questions
Q1) A(n)________ is a single number derived from sample data that is used to estimate the value of a population parameter.
A)confidence interval
B)frequentist interference
C)interval estimate
D)point estimate
Q2) A 100(1- )% confidence interval for the population mean based on a sample of size n with a sample mean \(\bar{X}\) and a known population standard deviation is given by ________.
A) \(\bar{x} \pm z_{a} / 2(n-1)(\sqrt{n})\)
B)\(\bar{x} \frac{(\sigma / \sqrt{n})}{Z_{a / 2}}\)
C)\(x 1-\bar{x} /(\sigma / \sqrt{n})\)
D)\(\bar{x} \pm z_{a / 2}(\sigma / \sqrt{n})\)
Q3) Convenience sampling is an example of a probabilistic sampling method.
A)True
B)False
Q4) Give an account of biased and unbiased estimators in sampling methods.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Statistical Inference
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15134
Sample Questions
Q1) Which of the following is a valid one-sample hypothesis test?
A)H : population parameter constant vs.H : population parameter = constant
B)H : population parameter > constant vs.H : population parameter constant
C)H : population parameter < constant vs.H : population parameter constant
D)H : population parameter = constant vs.H : population parameter constant
Q2) Which of the following is true about the value of the power of the test?
A)low value will enable valid conclusions to be made
B)small sample sizes generate a low value of the power of the test
C)low value will help in detecting small differences in sample statistics
D)small sample sizes incur higher costs than large sample sizes
Q3) Type II error occurs when the test:
A)correctly fails to reject an actually true null hypothesis.
B)incorrectly fails to reject an actually false null hypothesis.
C)correctly rejects an actually false null hypothesis.
D)incorrectly rejects an actually true null hypothesis.
Q4) For a lower-tail test, the p-value in the output from an Excel tool:
A)is correct if the test-statistic is negative.
B)is the difference from 1.0 if the test-statistic is negative.
C)is correct if the test-statistic is zero.
D)is correct if the test-statistic is positive.
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Predictive Modeling and Analysis
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/15135
Sample Questions
Q1) Which of the following mathematical functions, used in predictive analytical models, is represented by the formula y = ax³ + bx² dx + e?
A)exponential functions
B)power functions
C)logarithmic functions
D)polynomial functions
Q2) In predictive analysis models, a second-order polynomial has only one hill or valley.
A)True
B)False
Q3) From the "what if" values, calculate the net profit when the demand is 65,000.
A)$825,000
B)$1,650,000
C)$800,000
D)$925,000
Q4) Excel's Trendline feature cannot be used in modeling trends which include time variables.
A)True
B)False
Q5) Give an account of how data is used in predictive models.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Regression Analysis
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15136
Sample Questions
Q1) In a curvilinear regression model, the ________ represents the curvilinear effect.
A)intercept
B)error term
C)slope
D)R Square
Q2) ________ provide information about the unknown values of the true regression coefficients, accounting for sampling error.
A)Standard errors
B)Confidence intervals
C)Adjusted R Squares
D)P-values
Q3) Construct a scatter diagram and use the Excel Trendline tool to find the best-fitting simple linear regression model.
Q4) Categorical variables that have been coded are called ________.
A)limited dependent variables
B)dummy variables
C)instrumental variables
D)observable variables
Q5) List the systematic approach to building good multiple regression models.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Forecasting Techniques
Available Study Resources on Quizplus for this Chatper
55 Verified Questions
55 Flashcards
Source URL: https://quizplus.com/quiz/15137
Sample Questions
Q1) Indicators are measures that are believed to influence the behavior of a variable an individual wishes to forecast.
A)True
B)False
Q2) Identify the value of the mean square error using double exponential smoothing for the given set of data.
A)8.10
B)1.80
C)91.27
D)11976.17
Q3) Using the double exponential smoothing, calculate the value of the mean absolute deviation for the given data.
A)8.10
B)1.80
C)91.27
D)11976.17
Q4) Setting k = 3, determine the value of mean absolute deviation.
Q5) Explain the significance of using double moving average and double exponential smoothing models.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Simulation and Risk Analysis
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15138
Sample Questions
Q1) Which of the following best defines Monte Carlo simulation?
A)It is a tool for building statistical models that characterize relationships among a dependent variable and one or more independent variables.
B)It is a collection of techniques that seek to group or segment a collection of objects into subsets.
C)It is the process of selecting values of decision variables that minimize or maximize some quantity of interest.
D)It is the process of generating random values for uncertain inputs in a model and computing the output variables of interest.
Q2) Using an empirical distribution precludes sampling values outside the range of the actual data.
A)True
B)False
Q3) Why is the ROUND function used in Excel?
A)to ensure that the values generated are whole numbers
B)to ensure that the values generated are multiples of ten
C)to ensure that the values generated are always positive
D)to ensure that the values are even numbers
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Introduction to Data Mining
Available Study Resources on Quizplus for this Chatper
53 Verified Questions
53 Flashcards
Source URL: https://quizplus.com/quiz/15139
Sample
Questions
Q1) Which of the following typically describes the support for the association rule?
A)the number of transactions that include all items that are in the antecedent parts of the rule
B)the number of transactions that include all items in the antecedent and consequent parts of the rule
C)the number of transactions that include half from the antecedent and half from the consequent
D)the number of transactions that include all items that are in the consequent parts of the rule
Q2) Which of the following data sets provides the most realistic estimate of the performance of a model on completely unseen data?
A)validation data set
B)test data set
C)training data set
D)linear regression data set
Q3) Expected confidence assumes independence between the consequent and the antecedent.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 14
Chapter 13: Linear Optimization
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15140
Sample Questions
Q1) If the unit profit on Graystone surfboards is increased by $10, what is the shadow price for the finishing hours used?
A)18.48
B)17.39
C)15.42
D)14.15
Q2) An infeasible problem is one for which ________.
A)the objective is maximized or minimized by more than one combination of decision variables
B)there is no solution that simultaneously satisfies all the constraints C)the objective can be increased or decreased to infinity or negative infinity D)there is exactly one solution that will result in the maximum or minimum objective
Q3) What is the total number of hours used for fabrication?
A)42.58
B)50.10
C)35.64
D)22.95
Q4) Explain the simplex method used by Solver.
Q5) What are the two basic properties of a linear optimization model?
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Applications of Linear Optimization
Available Study Resources on Quizplus for this Chatper
62 Verified Questions
62 Flashcards
Source URL: https://quizplus.com/quiz/15141
Sample Questions
Q1) According to the model, what is the total amount of Fabric 2 to be produced with Northrop?
A)0
B)62,000
C)20,160
D)32,595
Q2) Which of the following is the constraint for total amount shipped from Atlanta?
A)X + X + X + X - X + X + X + X 850
B)X + X + X + X 750
C)X + X + X + X 1250
D)X + X + X + X 1250
Q3) According to the linear optimization model, what is the inventory held at the end of summer?
A)450
B)0
C)200
D)550
Q4) Nonnegativity of the decision variables is an example of an explicit constraint. A)True
B)False
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Integer Optimization
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15142
Sample Questions
Q1) What is the net production at the end of the third quarter?
A)75
B)200
C)450
D)600
Q2) ________ is the parameter that specifies when the Solver algorithm will terminate.
A)Mutation Rate
B)Population Size
C)Integer Tolerance
D)Convergence
Q3) What is the total number of 25-inch rolls produced?
A)630
B)635
C)641
D)645
Q4) If the Integer Tolerance is set to 0.01, the Solver will stop if it finds an integer solution that is within 10% of the optimal solution.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Nonlinear and Non-Smooth Optimization
Available Study Resources on Quizplus for this Chatper
66 Verified Questions
66 Flashcards
Source URL: https://quizplus.com/quiz/15143
Sample Questions
Q1) The economic order quantity is the amount to order that minimizes the total cost of ordering and holding.
A)True
B)False
Q2) According to the model, which of the following is the weighted distance between the phone charger and Paint cell?
A)36.00
B)12.00
C)24.00
D)0
Q3) Which of the following is the ideal next step if you get the message "Solver has converged to the current solution./All constraints are satisfied," when using Solver for nonlinear optimization models?
A)Accept the values, but run Solver again from the current solution.
B)Do not accept the Solver values and re-run Solver with the starting values.
C)Accept the values and run simulations with different values.
D)Accept the values, and then tweak the values, and re-run Solver on tweaked values.
Q4) What are the assumptions made when developing an economic order quantity model?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Optimization Models with Uncertainty
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15144
Sample Questions
Q1) What is the value of mean profit if the purchase quantity is equal to 45?
A)$ 252.0
B)$ 234.0
C)$ 216.0
D)$ 222.0
Q2) Which of the following cells is defined to be normally distributed using the function = PsiNormal(20000,2000)?
A)B5
B)B6
C)B7
D)B12
Q3) What is the number of reservations that will generate the least revenue?
A)400
B)410
C)420
D)430
Q4) Define a chance constraint.
Q5) What are multiple parameterized simulations?
Q6) What is a service level?
Q7) What is a conditional value at risk constraint?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Decision Analysis
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/15145
Sample Questions
Q1) Which of the following is considered the best expected value decision?
A)1-year ARM
B)3-year ARM
C)5-year ARM
D)30-year fixed
Q2) What is the expected opportunity loss for the 3-year ARM?
A)$ 7,979.60
B)$ 3,959.40
C)$ 6,853.50
D)$ 8,621.40
Q3) What is the maximum opportunity loss incurred for the 25-year fixed decision?
A)$ 8,626
B)$ 13,716
C)$ 14,369
D)$ 10,581
Q4) What are the three elements required to characterize decisions with uncertain consequences?
Q5) What is the expected value of sample information?
Q6) What are the differences between an aggressive strategy and a conservative strategy?
To view all questions and flashcards with answers, click on the resource link above. Page 20