Test Bank For Data Analysis And Decision Making 4th Edition By S. Christian Albright
ISBN-13:Â 978-0538476126, ISBN-10:Â 0538476125
CHAPTER 1: Introduction to Data Analysis and Decision Making
MULTIPLE CHOICE
- The decision-making concepts covered in Data Analysis & Decision Making book include which of the following?
| a. | Optimization techniques | c. | Structured sensitivity analysis |
| b. | Decision analysis with uncertainty | d. | All of these options |
ANS:Â DÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PTS:Â Â 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MSC:Â AACSB: Analytic
- Which of the following statements is not true?
| a. | Dealing with uncertainty includes measuring uncertainty |
| b. | Dealing with uncertainty includes modeling uncertainty explicitly into the analysis. |
| c. | Dealing with uncertainty includes eliminating uncertainty by using the normal probability distribution |
| d. | Uncertainty is a key aspect of most business problems, and dealing with uncertainty requires a basic understanding of probability |
ANS:Â CÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PTS:Â Â 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MSC:Â AACSB: Analytic
- Which of the following is not one of the important themes of your Data Analysis & Decision Making book?
| a. | Data analysis | c. | Decision making |
| b. | Dealing with uncertainty | d. | Data mining |
ANS:Â DÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PTS:Â Â 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MSC:Â AACSB: Analytic
- Data analysis includes
| a. | data description | c. | the search for relationships in data |
| b. | data inference | d. | All of these options |
ANS:Â DÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PTS:Â Â 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MSC:Â AACSB: Analytic
- Which of the following is not one of the steps in the modeling process?
| a. | Select scale for model |
| b. | Collect and summarize data |
| c. | Verify the model |
| d. | Present the results |
| e. | Implement the model and update it through time |
ANS:Â Â Â AÂ Â Â Â Â Â Â Â PTS:Â Â Â Â 1Â Â Â Â Â Â Â Â Â MSC:Â Â AACSB: Analytic
