1.

____ is used to test the hypothesis that the values of the regression
parameters ß1, ß2, ... ßq are all zero.= An F test

2. _____ is a statistical procedure used to develop an equation showing how two

variables are related.= Regression analysis

3. _____ is the amount by which the predicted value differs from the observed
value of the time series variable.= Forecast error
4. _____ is the data set used to build the candidate models.= Training set
5. _____ refers to the data set used to compare model forecasts and ultimately
pick a= Validation set
6. _____ refers to the degree of correlation among independent variables in a
regression model.= Multicollinearity
7. _____ refers to the scenario in which the relationship between the dependent
variable and one independent variable is different at different values of a
second independent variable.= Interaction
8. _____ refers to the use of sample data to calculate a range of values that is
believed to include the value of the population parameter.= Interval estimation
9. _____ uses a weighted average of past time series values as the forecast.=
Exponential smoothing
10. _________ analytics are techniques that use models, constructed from
past data, to predict the future or to ascertain the impact of one variable on
another.= Predictive
11. __________ analytics use techniques that take input data and yield a
best course of action.= Prescriptive
12. __________ are used in the pharmaceutical industry to assess the risk
of introducing a new drug.- Simulations
13. __________ is an open-source programming environment that
supports big data processing through distributed storage and distributed
processing on clusters of computers.= Hadoop
14. __________ is the most critical step of the decision-making process.-
Identifying and defining the problem 
15. __________ refers to a programming model used within Hadoop that
performs the two major steps for which it is named: the map step and the
reduce step.= MapReduce
16. __________ refers to the technology that allows data, collected from
sensors in all types of machines, to be sent over the Internet to repositories
where it can be stored and analyzed.= Internet of Things (IoT)

1
17. A _____ decision is one in which companies have to decide whether
they should manufacture a product or outsource production to another firm.=
make-versus-buy 
18. A _____ describes the range and relative likelihood of all possible
values for a random variable. : probability distribution for a random variable
19. A _____ is an interval estimate of an individual y value, given values of
the = prediction interval
20. A _____ is used to visualize sample data graphically and to draw
preliminary conclusions about the possible relationship between the
variables.= scatter chart
21. A __________ decision involves higher-level issues and is concerned
with the overall direction of the organization, defining the overarching goals
and aspirations for the organization’s future.= strategic
22. A __________ decision is concerned with how the organization should
achieve the goals and objectives set by its strategy.= tactical
23. A better understanding of consumer behavior through analytics directly
leads to= better pricing strategies.
24. A causal model provides evidence of _____between an independent
variable and the variable to be forecast.= an association

25. A forecast is defined as a(n) ______.= prediction of future values of a time

series
26. A forecast that helps direct police officers to areas where crimes are
likely to occur based on past data is an example of- predictive analytics. 
27. A health conscious student faithfully wears a device that tracks his
steps. Suppose that the distribution of the number of steps he takes in a day
is normally distributed with a mean of 10,000 and a standard deviation of
1,500 steps. What percent of the days does he exceed 13,000 steps? - 2.28%
28. A health conscious student faithfully wears a device that tracks his
steps. Suppose that the distribution of the number of steps he takes is
normally distributed with a mean of 10,000 and a standard deviation of 1,500
steps. How many steps would he have to take to make the cut for the top 5%
for his distribution?- 12,467
29. A health conscious student faithfully wears a device that tracks his
steps. Suppose that the distribution of the number of steps he takes in a day
is normally distributed with a mean of 10,000 and a standard deviation of
1,500 steps. One day he took 15,000 steps. What was his percentile on that
day? - 99.7%

30. A joint probability is the _____. - probability of the intersection of two

events

2
31. A large manufacturing plant has analyzed the amount of time required
to produce an electrical part and determined that the times follow a normal
distribution with mean time μ = 45 hours. The production manager has
developed a new procedure for producing the part. He believes that the new
procedure will decrease the population mean amount of time required to
produce the part. After training a group of production line workers, a random
sample of 25 parts will be selected and the average amount of time required
to produce them will be determined. If the switch is made to the new
procedure, the cost to implement the new procedure will be more than offset
by the savings in manpower required to produce the parts. Use the
hypotheses: H0: μ ≥ 45 hours and Ha: μ < 45 hours. If the sample mean
amount of time is  = 43.118 hours with the sample standard deviation s = 5.5
hours, give the appropriate conclusion, for α = 0.025.= Do not reject H0, do not
switch to the new procedure.
32. A large manufacturing plant has analyzed the amount of time required
to produce an electrical part and determined that the times follow a normal
distribution with mean time μ = 45 hours. The production manager has
developed a new procedure for producing the part. He believes that the new
procedure will decrease the population mean amount of time required to
produce the part. After training a group of production line workers, a random
sample of 25 parts will be selected and the average amount of time required
to produce the parts will be determined. If the switch is made to the new
procedure, the cost to implement the new procedure will be more than offset
by the savings in manpower required to produce the parts. Use the
hypotheses: Ho: μ ≥ 45 hours and Ha: μ < 45 hours. Determine the p value of
the test statistic if the sample mean amount of time is  = 43.118 hours with the
sample standard deviation s = 5.5 hours.= 0.04999 
33. A light bulb manufacturer uses descriptive analytics= to present supply
chain to managers visually.

34. A normally distributed error term with a mean of zero would _____.=
allow more accurate modeling
35. A null and alternative hypothesis for a one proportion z test are given
as H0: p = 0.8, Ha: p < 0.8. This hypothesis test is _____.= lower-tailed
36. A one-tailed test is a hypothesis test in which the rejection region is
_____.= in one tail of the sampling distribution
37. A one-way data table summarizes _____.= a single input’s impact on the
output of interest
38. A pizza shop advertises that they deliver in 30 minutes or less or it is
free. People who live in homes that are located on the opposite side of town
3
 believe it will take the pizza shop longer than 30 minutes to make and deliver
the pizza. Write the null and alternative hypotheses that can be used to
conduct a significance test.= H0: u ≤ 30, Ha: u > 30
39. A positive forecast error indicates that the forecasting method _____
the dependent variable.= underestimated

40. A procedure for using sample data to find the estimated regression
equation is _____.= the least squares method
41. A random sample selected from an infinite population is a sample
selected such that each element selected comes from the same _____ and
each element is selected _____= population; independently
42. A regression analysis involving one independent variable and one
dependent variable is referred to as a _____.= simple linear regression
43. A retail store owner offers a discount on product A and predicts that the
customers would purchase products B and C in addition to product A. Identify
the technique used to make such a prediction.- Data mining
44. A sample of 37 AA batteries had a mean lifetime of 584 hours. A 95%
confidence interval for the population mean was 579.2 < μ < 588.8. Which
statement is the correct interpretation of the results? = We are 95% confident
that the mean lifetime of all the bulbs in the population is between 579.2 hours and
588.8 hours.
45. A set of observations on a variable measured at successive points in
time or over successive periods of time constitute a _____.= time series
46. A simple random sample of 31 observations was taken from a large
population. The sample mean equals 5. Five is a _____.= point estimate
47. A simple random sample of size n from a finite population of size N is a
sample selected such that each possible sample of size _____.= n has the
same probability of being selected
48. A statistics teacher started class one day by drawing the names of 10
students out of a hat and asked them to do as many pushups as they could.
The 10 randomly selected students averaged 15 pushups per person with a
standard deviation of 9 pushups. Suppose the distribution of the population of
number of pushups that can be done is approximately normal. The 95%
confidence interval for the true mean number of pushups that can be done is
_____.= 8.56 to 21.40
49. A student wants to determine if pennies are really fair when flipped,
meaning equally likely to land heads up or tails up. He flips a random sample
of 50 pennies and finds that 28 of them land heads up. If p denotes the true
probability of a penny landing heads up when flipped, what are the
appropriate null and alternative hypotheses?= H0: p = 0.5, Ha: p ≠ 0.5.
50. A student wants to determine if pennies are really fair when flipped,
meaning equally likely to land heads up or tails up. He flips a random sample
of 50 pennies and finds that 28 of them land heads up. If p denotes the true

4
 probability of a penny landing heads up when flipped, what are the
appropriate null and alternative hypotheses? = H0: p = 0.5, Ha: p ≠ 0.5.
51. A survey of 100 random high school students finds that 85 students
watched the Super Bowl, 25 students watched the Stanley Cup Finals, and 20
students watched both games. How many students did not watch either
game?- 10
52. A time series that shows a recurring pattern over one year or less is
said to follow a _____.= seasonal pattern
53. A time series with a seasonal pattern can be modeled by treating the
season as a _____.= dummy variable
54. A Type I error is committed when _____. = a true null hypothesis is
rejected
55. A variable that can only take on specific numeric values is called a
_____.- discrete random variable
56. A variable used to model the effect of categorical independent
variables in a regression model which generally takes only the value zero or
one is called _____.= a dummy variable
57. A variable used to model the effect of categorical independent
variables in a regression model is known as a _____.= dummy variable
58. A(n) _____ is a visual representation that shows which entities affect
others in a model.= influence diagram
59. A(n) _____ refers to a model input that can be controlled in a
spreadsheet model.= decision variable
60. Advanced analytics generally refers to= predictive and prescriptive
analytics.

61. All of the following are examples of discrete random variables except
_____.- time
62. All the events in the sample space that are not part of the specified
event are called _____: the complement of the event
63. An estimate of a population parameter that provides an interval of
values believed to contain the value of the parameter is known as the _____.=
interval estimate
64. An Excel _____ quantifies the impact of changing the value of a
specific input on an output of interest. = Data Table
65. An experiment consists of determining the speed of automobiles on a
highway by the use of radar equipment. The random variable in this
experiment is a _____.-continuous random variable

66. An exponential trend pattern occurs when ______.= the percentage

change between periods in the value of the variable is relatively constant

5
67. An initial estimate of the probabilities of events is a _____ probability.-
prior
68. Arrows pointing from the selected cell to cells that depend on the
selected cell are generated by using the _____ button of the Formula Auditing
group.= Trace Dependents 
69. As the number of degrees of freedom for a t distribution increases, the
difference between the t distribution and the standard normal distribution
_____.= becomes smaller
70. Assessing the regression model on data other than the sample data
that was used to generate the model is known as _____.= cross-validation
71. Autoregressive models _____.= occur whenever all the independent
variables are previous values of the time series
72. Bayes' theorem is a method used to compute _____ probabilities.-
posterior
73. Causal models _____.= relate a time series to other variables that are
believed to explain or cause its behavior
74. Corporate-level managers use ______ to summarize sales by region,
current inventory levels, and other company-wide metrics all in a single
screen.- data dashboards
75. Data dashboards are a type of _________ analytics- descriptive
76. Data-driven decision making tends to decrease a firm's- risk. 
77. Determine whether the alternative hypothesis is left-tailed, right-tailed,
or two-tailed: H0: μ = 11, Ha: μ > 11= Right-tailed 
78. Excel searches for an exact match of the first argument in the first
column of the data when the range in the VLOOKUP function is _____.=
FALSE
79. Excel’s _____ tool allows the user to determine the value of an input
cell that will cause the value of a related output cell to equal some specified
value.= Goal Seek
80. Fast food restaurants pride themselves in being able to fill orders
quickly. A study was done at a local fast food restaurant to determine how
long it took customers to receive their order at the drive-thru. It was
discovered that the time it takes for orders to be filled is exponentially
distributed with a mean of 1.5 minutes. What is the probability that it takes
less than one minute to fill an order?: 0.4866
81. Fast food restaurants pride themselves in being able to fill orders
quickly. A study was done at a local fast food restaurant to determine how
long it took customers to receive their order at the drive thru. It was
discovered that the time it takes for orders to be filled is exponentially

6
 distributed with a mean of 1.5 minutes. What is the probability density function

for the time it takes to fill an order?

82. Fitting a model too closely to sample data, resulting in a model that
does not accurately reflect the population is termed as _____.= overfitting
83. For a population with an unknown distribution, the form of the sampling
distribution of the sample mean is _____.= approximately normal for large
sample sizes
84. For causal modeling, _____ are used to detect linear or nonlinear
relationships between the independent and dependent variables.= scatter
charts
85. Forecast error _____.= is associated with measuring forecast accuracy
86. If a time series plot exhibits a horizontal pattern, then _____.= there is
still not enough evidence to conclude that the time series is stationary
87. If a z-score is zero, then the corresponding x-value must be equal to
the _____.- mean

88. If the expected value of the sample statistic is equal to the population
parameter being estimated, the sample statistic is said to _____.= be an
unbiased estimator of the population parameter
89. If the forecasted value of the time series variable for period 2 is 22.5
and the actual value observed for period 2 is 25, what is the forecast error in
period 2?= 2.5
90. In a linear regression model, the variable (or variables) used for
predicting or explaining values of the response variable are known as the
_____. It(they) is(are) denoted by x.= independent variable
91. In a linear regression model, the variable that is being predicted or
explained is known as _____. It is denoted by y and is often referred to as the
response variable.= dependent variable
92. In a normal distribution, which is greater, the mean or the median? -
Neither the mean nor the median (they are equal)
93. In a random sample of 400 registered voters, 120 indicated they plan to
vote for Trump for President. Determine a 95% confidence interval for the
proportion of all the registered voters who will vote for Trump= (0.25, 0.34)
94. In a simple linear regression analysis the quantity that gives the
amount by which the dependent variable changes for a unit change in the
independent variable is called the _____.= slope of the regression line
95. In a simple linear regression model, y = ß0 + ß1x + ε the parameter ß1
represents the _____.= slope of the true regression line
7
96. In order to determine an interval for the mean of a population with
unknown standard deviation, a sample of 24 items is selected. The mean of
the sample is determined to be 23. The number of degrees of freedom for
reading the t value is _____.= 23
97. In order to manage an organization’s human resource activities, such
as hiring employees, tracking, and influencing employee retention, HR
personnel use= descriptive and predictive analytics.
98. In the financial sector, __________ are used to construct financial
instruments such as derivatives.= predictive models
99. In the graph of the simple linear regression equation, the parameter ß0
represents the _____ of the true regression line.= y-intercept

100. In the moving averages method, the order k determines the _____.=
number of time series values under consideration
101. In the simple linear regression model, the _____ accounts for the
variability in the dependent variable that cannot be explained by the linear
relationship between the variables.= error term
102. In the spectrum of business analytics, which is the most complex?=
Prescriptive
103. is not true of a stationary time series?= The time series plot is a straight
line.
104. Larger values of α have the disadvantage of increasing the probability
of making a  _____.= Type I error
105. Navigation in a spreadsheet model can be facilitated by _____.= using
clear labels and proper formatting and alignment
106. One reason a sample may fail to represent the population of interest is
_____= sampling error

107. One reason a sample may fail to represent the population of interest is
_____.= sampling error
108. Optimization models can be used to = decide on how to invest cash
received from insurance policies.
109. Picks and Axes Inc. is an Internet-based retail seller of hiking boots
and mountaineering gear. The company decides to open retail stores across
the major areas of the city to help complement its Internet-based strategy.
This activity would be categorized as a(n)- strategic decision.
110. Prediction of the mean value of the dependent variable y for values of
the independent variables x1, x2, . . . , xq that are outside the experimental
range is called _____.= extrapolation

111. Prediction of the value of the dependent variable outside the

experimental region is called _____.= extrapolation

8
112. Probability is the : numerical measure of the likelihood that an event will
occur

113. Regression analysis involving one dependent variable and more than
one independent variable is known as ____.= multiple regression
114. Sample space is _____.- the collection of all possible outcomes
115. Simulation optimization helps - to find good decisions in highly complex
and highly uncertain settings.
116. Spreadsheet models are referred to as what-if models because they
_____.= allow easy instantaneous recalculation for a change in model inputs
117. Statistical significance at the 0.01 level is _____ than significance at
the 0.05 level.= more difficult to achieve

118. Suppose for a particular week, the forecasted sales were $4,000. The
actual sales were $3,000. What is the value of the mean absolute percentage
error?= 33.3%
119. Tactical decisions are concerned with- how the organization should
achieve the goals and objectives set by its strategy.
120. Two approaches to drawing a conclusion in a hypothesis test are
_____.= p-value and critical value
121. Two events are independent if _____.- P(A | B) = P(A) or P(B | A) = P(B)
122. The _____ button in the Formula Auditing group allows the user to
inspect each formula in detail in its cell location. = Show Formulas
123. The _____ button provides an automatic means of checking for
mathematical errors within formulas of a worksheet.= Error Checking

124. The _____ button, located in the Formula Auditing group, creates
arrows pointing to the selected cell from cells that are part of the formula in
that cell.= Trace Precedents
125. The _____ function allows the user to pull a subset of data from a
larger table of data based on some criterion. = VLOOKUP
126. The _____ function is used for the conditional computation of
expressions in Excel.= IF

127. The _____ function pairs each element of the first array with its
counterpart in the second array, multiplies the elements of the pairs together,
and adds the results.= SUMPRODUCT
128. The _____ is a measure of the goodness of fit of the estimated
regression equation. It can be interpreted as the proportion of the variability in
the dependent variable y that is explained by the estimated regression
equation.= coefficient of determination

9
129. The _____ is an indication of how frequently interval estimates based
on samples of the same size taken from the same population using identical
sampling techniques will contain the true value of the parameter we are
estimating.= confidence level

130. The _____ is the range of values of the independent variables in the
data used to estimate the regression model.= experimental region
131. The _____ probability distribution can be used to estimate the number
of vehicles that go through an intersection during the lunch hour.- Poisson
132. The _____ is a measure of the error that results from using the
estimated regression equation to predict the values of the dependent variable
in the sample.= sum of squares due to error (SSE)
133. The arguments supplied to the IF function, in order, are the condition
for execution, _____.= the result if condition is true, and the result if condition is
false 
134. The average number of hours for a random sample of mail order
pharmacists from company A was 50.1 hours last year. It is believed that
changes to medical insurance have led to a reduction in the average work
week. To test the validity of this belief, the hypotheses are _____.= H0: u ≥
50.1, Ha: u < 50.1
135. The basis for using a normal probability distribution to approximate the
sampling distribution of the sample means and population mean is _____.=
the central limit theorem
136. The calculations of a cell can be investigated in great detail by using
the _____ button.= Evaluate Formula
137. The center of a normal curve is _____.- the mean of the distribution

138. The CEO of a company wants to estimate the percent of employees

that use company computers to go on Facebook during work hours with 95%
confidence. He selects a random sample of 150 of the employees and finds
that 53 of them logged onto Facebook that day. What is the point estimate of
the proportion of the population that logged onto Facebook that day?= 0.35
139. The coefficient of determination _____.= is used to evaluate the
goodness of fit
140. The conceptual model _____.= helps in organizing the data requirements
141. The condition that VLOOKUP assumes is that _____.= the first column
of the table is sorted in ascending order. 
142. The decisions concerning an organization’s goals and future plans are
called- strategic decisions.
143. The degree of correlation among independent variables in a regression
model is called _____.= multicollinearity

10
144. The difference between the observed value of the dependent variable
and the value predicted using the estimated regression equation is known as
the _____.= residual

145. The event containing the outcomes belonging to A or B or both is the
_____ of A and B.- union
146. The exponential smoothing forecast for period t + 1 is a weighted
average of the _____.= actual value in period t with weight α and the forecast for
period t with weight 1 – α
147. The extraction of information on the number of shipments, how much
was included in each shipment, the date each shipment was sent, and so on
from the manufacturing plant’s database exemplifies- data queries.
148. The function of Trace Precedents and Trace Dependents is to _____.=
highlight errors in copying and formula construction
149. The graph of the simple linear regression equation is a(n) _____.=
straight line
150. The impact of two inputs on the output of interest is summarized by a
_____.= two-way data table
151. The influence in an influence diagram is visually depicted by _____. an
arrow.
152. The least squares regression line minimizes the sum of the _____ =
squared differences between actual and predicted y values
153. The mean absolute error, mean squared error, and mean absolute
percentage error are all methods to measure the accuracy of a forecast.
These methods measure forecast accuracy by _____.= determining how well a
particular forecasting method is able to reproduce the time series data that are
already available
154. The modeling process begins with the framing of a _____ model that
shows the relationships between the various parts of the problem being
modeled.= conceptual
155. The moving averages and exponential smoothing methods are
appropriate for a time series exhibiting _____.= a horizontal pattern
156. The moving averages method refers to a forecasting method that
_____.= uses the average of the most recent data values in the time series as the
forecast for the next period

157. The newest model of smart car is supposed to get excellent gas
mileage. A thorough study showed that gas mileage (measured in miles per
gallon) is normally distributed with a mean of 75 miles per gallon and a
standard deviation of 10 miles per gallon. What value represents the 50th
percentile of this distribution? - 75
158. The newest model of smart car is supposed to get excellent gas
mileage. A thorough study showed that gas mileage (measured in miles per
11
 gallon) is normally distributed with a mean of 75 miles per gallon and a
standard deviation of 10 miles per gallon. What is the probability that, if driven
normally, the car will get 100 miles per gallon or better?- 0.6%
159. The number of minutes that Samantha waits to catch the bus is
uniformly distributed between 0 and 15 minutes. What is the probability that
Samantha has to wait less than 4.5 minutes to catch the bus?- 30%
160. The owners of a fast food restaurant have automatic drink dispensers
to help fill orders more quickly. When the 12 ounce button is pressed, they
would like for exactly 12 ounces of beverage to be dispensed. There is,
however, some variation in this amount. The company does not want the
machine to systematically over fill or under fill the cups. Which of the following
gives the correct set of hypotheses?= H0: u = 12, Ha: u ≠ 12
161. The population parameter value and the point estimate differ because
a sample is not a census of the entire population, but it is being used to
develop the _____.= point estimate
162. The population parameters that describe the y-intercept and slope of
the line relating y and x, respectively, are _____.= B0 and B1
163. The prespecified value of the independent variable at which its
relationship with the dependent variable changes in a piecewise linear
regression model is referred to as the ______.= knot
164. The process of _____ might be used to determine the value of the
smoothing constant that minimizes the mean squared error.= nonlinear
optimization
165. The process of making a conjecture about the value of a population
parameter, collecting sample data that can be used to assess this conjecture,
measuring the strength of the evidence against the conjecture that is provided
by the sample, and using these results to draw a conclusion about the
conjecture is known as _____.= hypothesis testing
166. The process of making estimates and drawing conclusions about one
or more characteristics of a population through analysis of sample data drawn
from the population is known as _____.= statistical inference
167. The proportion of dental procedures that are extractions is 0.16. Which
of the following exemplifies a Type I error in this situation? = We reject the claim
that the proportion of dental procedures that are extractions is 0.16 when the
proportion is actually 0.16. 

168. The purpose of statistical inference is to make estimates or draw

conclusions about a _____= population based upon information obtained from the
sample

12
169. The random numbers generated using Excel's RAND function follows a
_____ probability distribution between 0 and 1= uniform
170. The random variable X is known to be uniformly distributed between 2
and 12. Compute the standard deviation of X : 2.887
171. The random variable X is known to be uniformly distributed between 2
and 12. Compute E(X), the expected value of the distribution.- 7
172. The SUM function in Excel _____.= adds up all the numbers in a range of
cells
173. The triangular distribution is a good model for _____ distributions.-
skewed
174. The U.S. Internal Revenue Service uses _____________ to identify
patterns that distinguish questionable annual personal income tax filings.=
data mining 
175. The user can monitor how listed cells change with a change in the
model without searching through the worksheet or changing from one
worksheet to another by using the _____ functionality.= Watch Window
176. The value of an independent variable from the prior period is referred
to as a _____.= lagged variable
177. The value of the _____ is used to estimate the value of the population
parameter
sample statistic
178. The VLOOKUP with range set to _____ takes the first argument and
searches the first column of the table for the last row that is strictly less than
the first argument.= TRUE
179. The Watch Window is observable _____.= across different worksheets of
a workbook
180. Trend refers to _____.= the long-run shift or movement in the time series
observable over several periods of time.
181. Using a large value for order k in the moving averages method is
effective in _____.= smoothing out random fluctuations
182. Using an α = 0.04, a confidence interval for a population proportion is
determined to be 0.65 to 0.75. If the level of significance is decreased, the
interval for the population proportion _____.= becomes wider
183. Utility theory is the study of the __________ or relative desirability of a
particular outcome that reflects the decision maker’s attitude toward a
collection of factors, such as profit, loss, and risk.= total worth
184. What are the two decisions that you can make from performing a
hypothesis test?= Reject the null hypothesis; Fail to reject the null hypothesis
185. What do nodes in an influence diagram represent?= Parts of the model
186. What is the total area under the normal distribution curve? - 1

13
187. What would be the coefficient of determination if the total sum of
squares (SST) is 23.29 and the sum of squares due to regression (SSR) is
10.03?= 0.43
188. What would be the value of the sum of squares due to regression
(SSR) if the total sum of squares (SST) is 25.32 and the sum of squares due
to error (SSE) is 6.89?= 18.43

189. When a decision maker is faced with several alternatives and an

uncertain set of future events, s/he uses __________ to develop an optimal
strategy.= decision analysis
190. When the expected value of the point estimator is equal to the
population parameter it estimates, it is said to be _____.= unbiased
191. When the mean value of the dependent variable is independent of
variation in the independent variable, the slope of the regression line is
_____.= Zero
192. Which is not true regarding trend patterns?= Can result when business
conditions shift to a new level at some point in time
193. Which of the following analytical techniques helps us arrive at the best
decision? -Prescriptive analytics
194. Which of the following approaches is a good way to proceed with the
influence diagram building for a problem?= The influence diagram for a portion of
the problem is built first and then expanded until the total problem is conceptually
modeled.
195. Which of the following best exemplifies big data?- Cellphone owners
around the world generate vast amounts of data by calling, texting, tweeting, and
browsing the Web on a daily basis.
196. Which of the following design guidelines, if followed, enables the user
to update the model parameters without the risk of mistakenly creating an
error in a formula?= Separating the parameters from the spreadsheet model
197. Which of the following is a discrete random variable?- The number of
times a student guesses the answers to questions on a certain test
198. Which of the following is not a characteristic of the normal probability
distribution?- The standard deviation must be 1.
199. Which of the following is not an approach to making decisions?- Guess
and check
200. Which of the following is not present in a time series?= Operational
variations
201. Which of the following is not present in a time series?= Operational
variations

202. Which of the following is true of spreadsheet packages used in

business analytics?= They come preloaded on computers.
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203. Which of the following is true of the exponential smoothing coefficient?
= It is chosen as the value that minimizes a selected measure of forecast accuracy
such as the mean squared error.

204. Which of the following measures of forecast accuracy is susceptible to

the problem of positive and negative forecast errors offsetting one another?=
Mean forecast error
205. Which of the following regression models is used to model a nonlinear
relationship between the independent and dependent variables by including
the independent variable and the square of the independent variable in the
model?= Quadratic regression model
206. Which of the following sources of big data is not publicly available?=
Medical records
207. Which of the following statements is correct? - The binomial
distribution is a discrete probability distribution and the normal distribution is
a continuous probability distribution.

208. Which of the following statements is the objective of the moving

averages and exponential smoothing methods?= To smooth out random
fluctuations in the time series
209. Which of the following states the objective of time series analysis?= To
uncover a pattern in a time series and then extrapolate the pattern into the future
210. Which of the following tools provides an excellent means of identifying
the exact location of an error in a formula?= Evaluate Formula
211. Which one of the following is used in predictive analytics?- Linear
regression
212. Which statement is NOT true?= Failing to reject the null hypothesis when it
is false is a Type I error.
213. Which statement is NOT true?= Rejecting the null hypothesis when it is
true is a Type II error.
214. Which statement is true about mutually exclusive events?- If events A
and B cannot occur at the same time, they are called mutually exclusive.
215. With reference to a spreadsheet model, an uncontrollable model input
is known as a(n) _____.= parameter
216. With reference to exponential forecasting models, a parameter that
provides the weight given to the most recent time series value in the
calculation of the forecast value is known as the _____. = smoothing constant
217. With reference to time series data patterns, a cyclical pattern is the
component of the time series that _____.= shows a periodic pattern lasting more
than one year

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 218. With reference to the SUMPRODUCT function, which of the following
statements is true?= The arrays that appear as arguments must be of the same
dimension.
219. Within a given range of cells, the number of times a particular condition
is satisfied is computed by using the _____ function.= COUNTIF
220. You are _____ to commit a Type I error using the 0.05 level of
significance than using the 0.01 level of significance. = more likely
 
In the probability table below, which value is a marginal probability?-0.5

 __________ assigns values to outcomes based on the decision maker’s attitude

toward risk, loss, and other factors.

···/1
Simulation optimization
Data dashboard
Utility theory
 
Optimization model

Không có câu trả lời đúng

 
The scatter chart below displays the residuals versus the dependent variable, x.
Which of the following conclusions can be drawn from the scatter chart given below?

The residuals have an increasing variance as the dependent variable increases.

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The scatter chart below displays the residuals versus the dependent variable,
t. Which of the following conclusions can be drawn based upon this scatter chart?

Residuals are not independent.

 
The scatter chart below displays the residuals versus the dependent variable, x.
Which of the following conclusions can be drawn based upon this scatter chart?

The model fails to capture the relationship between the variables accurately.

 
The scatter chart below displays the residuals versus the dependent variable, x. 
Which of the following conclusions can be drawn based upon this scatter chart?

The residual distribution is not normally distributed.

A time series plot of a period of time (in weeks) versus sales (in 1,000’s of gallons) is
shown below. Which of the following data patterns best describes the scenario
shown?

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Time series with a horizontal pattern
 
 
A time series plot of a period of time (in years) versus sales (in thousands of dollars)
is shown below. Which of the following data patterns best describes the scenario
shown?

Linear trend pattern

 
 A time series plot of a period of time (in years) versus revenue (in millions of dollars)
is shown below. Which of the following data patterns best describes the scenario
shown?

Nonlinear trend pattern

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A time series plot of a period of time (in months) versus sales (in number of units) is
shown below. Which of the following data patterns best describes the scenario
shown?

Seasonal pattern
 
 
A time series plot of a period of time (quarterly) versus quarterly sales (in $1,000s) is
shown below. Which of the following data patterns best describes the scenario
shown?

Seasonal pattern and linear trend

Using the diagram below, which of the following would be a likely mathematical
expression for Total Cost?

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Total Cost = Fixed Cost + Total Variable Cost

 
Which of the following would be a likely mathematical expression for Total Variable
Cost?

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Total Variable Cost = (Material Cost per Unit + Labor Cost per Unit) × Production Volume
 
 
 Which of the following would be a likely mathematical expression for Total
Revenue?
Total Revenue = Production Volume × Revenue per Unit

Demand for a product and the forecasting department’s forecast (naïve model) for a
product are shown below. Compute the mean absolute error.

2
21
 
 Demand for a product and the forecasting department’s forecast (naïve model) for a
product are shown below. Compute the mean squared error.

4.67
What is the mean of x, given the exponential probability function -20 

The following table is used to lookup information on a specific product. The Product
ID is entered into cell B2 and the information is returned in the shaded box. There
are several formulas in the table. How could I look at the cells that use the value in
cell B2?

Select "Trace Dependents" in the Formula Auditing Group on the Formulas tab.

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 total amount
  frequence spent average spent

COUNTIF(B1:B34; SUMIF(B1:B34; AVERAGEIF(B1:B35;

  K5) K5; F1:F34) K5; F1:F35)

median median Mon 0 0 #DIV/0!

max Tue 0 0 #DIV/0!

min Wed 0 0 #DIV/0!

max-
range min Thu 0 0 #DIV/0!

Standard
Deviation STDEV.S Fri 0 0 #DIV/0!

varian var.s Sat 0 0 #DIV/0!

correlation
coefficient CORREL( Sun 0 0 #DIV/0!

It implies that there is a positive connection betweenthe time

spent on the web site and the number of pagesviewed.
Thus, the data illustrates that There more time you spend on website=> the more paged are
viewed

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