Test Bank For Data Analysis And Decision Making 4th Edition By S. Christian Albright

# Test Bank For Data Analysis And Decision Making 4th Edition By S. Christian Albright

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Edition:  4th Edition

Resource Type: Test bank

# Test Bank For Data Analysis And Decision Making 4th Edition By S. Christian Albright

ISBN-13: 978-0538476126, ISBN-10: 0538476125

CHAPTER 1: Introduction to Data Analysis and Decision Making

MULTIPLE CHOICE

1. 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:  D                    PTS:   1                    MSC:  AACSB: Analytic

1. 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:  C                    PTS:   1                    MSC:  AACSB: Analytic

1. 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:  D                    PTS:   1                    MSC:  AACSB: Analytic

1. Data analysis includes
 a. data description c. the search for relationships in data b. data inference d. All of these options

ANS:  D                    PTS:   1                    MSC:  AACSB: Analytic

1. 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:    A         PTS:     1          MSC:   AACSB: Analytic

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