Questions and Answers of Business Analytics Data

Apron Outfitters is a manufacturer of aprons, jackets, and vests for a variety of occupations, including golf caddies, chefs, and carpenters. Assume that Apron Outfitters needs to schedule shipments
To complete an optimization in Excel, which feature would you use?a. Data Analysis ToolPakb. Forecast sheetc. Solver Add-Ind. What-if analysis
Companies want to retain good employees as long as possible because hiring and training new employees is expensive and time consuming. Which of the following techniques can help a company determine
Assume that Hertz wants to understand the relationship between different variables, such as miles driven, car age, and annual maintenance costs. Which of the following techniques can help Hertz
Assume that Hertz wants to estimate the annual maintenance costs for its fleet next year. Which of the following techniques can help Hertz make this prediction?a. Control chartb. Forecastingc.
A heat map is an example of which type of visualization?a. Conditional highlightingb. Conditional formattingc. A temperature gauged. Horizontal analysis
Which type of analytics includes classification, regression, and time series analysis techniques?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive analytics
Suggest questions that General Motors might use each of the following predictive analytics techniques to address.a. Classificationb. Regressionc. Time series analysisd. Analysis of base rates
Which predictive analytics technique would a data analyst use to predict product demand using past product demand values?a. Time series analysisb. Regressionc. Classificationd. Benford’s Law
Which type of analytics determines what input is needed to achieve a desired goal?a. Descriptiveb. Diagnosticc. Predictived. Prescriptive
Which type of technique divides leads into those who are likely to purchase and those who are not?a. Classificationb. Decision treec. Regressiond. Sensitivity analysis
Match the Excel menu option (Data Analysis, What-if Analysis) to the analytics technique used. Analytics Technique Used Average of sales for the last five years Goal-seek analysis to determine the
Match the analytics type (descriptive, diagnostic, predictive, or prescriptive) to the analytics technique used. Analytics Technique Used Summarization of last year's sales data Pivot table for drill
The European Union (EU) General Data Protection Regulation requires internet users to explicitly “opt in” to share their personal information other parties, such as advertisers. In the United
Match the marketing data to the marketing mix component (product, price, place, or promotion) that it would be most helpful for analyzing. Marketing Data Competitor price Order fulfillment
Which term refers to the final product distribution points?a. Conversion pointsb. Leadsc. Marketing channelsd. Marketing mix
Match each marketing question to the analytics type (descriptive, diagnostic, predictive, or prescriptive) that can help answer it. Marketing Question Why did unit sales decrease in the Great Lakes
What combines multiple data visualizations and other analyses to track multiple key performance indicators?a. Marketing dashboardb. Ishikawa diagramc. Marketing mixd. Scenario analysis
A customer relationship management (CRM) system can be set up to include information about a (potential) customer from the person’s public social media activity, including likes/dislikes and posts
Match each marketing question to the relevant marketing mix component (product, price, place, or promotion). Marketing Question What marketing channels should we use? Should we use a cost-plus,
Which phrase refers to the key choices that a company makes to bring a product service to market?a. Marketing channelsb. Marketing mixc. Product life cycled. Root cause
What does the target audience for business analytics help to determine?a. Types of charts used.b. Language and terms used.c. Type of report used.d. Types of charts and reports used as well as the
The stock market typically yields a small positive return each day, but intermittently it yields a high negative return on a few days. What type of distribution describes this behavior?a. Negatively
Assume that Keurig Dr Pepper wants to create a data visualization that compares the total number of cans of Dr Pepper sold in U.S. state. Which of the following charts is BEST way to present
Assume that Keurig Dr Pepper launches a new advertising campaign. To understand the impact of the campaign, the company asks a group of customers to provide three words describing the new campaign.
Which of the following statements is true?a. Although bar charts can represent counts of categorical data, histograms are used only for numerical data.b. Although histograms can represent counts of
When the trend is the most important item to communicate, which of the following statements is true?a. Bar charts are preferable to line charts.b. Line charts are preferable to bar charts.c. Bar
Accounting financial statement data, such as sales and net are most likely to be shown as which type of data?a. Interval datab. Ratio datac. Nominal datad. Ordinal data
Why are data visualizations a good way to present large amounts of data?
Which of the following is a data point outside the maximum or minimum value of the expected range of a box plot?a. Outlierb. Medianc. Meand. Variation
The following pie chart shows how frequently each employee’s computer at HackUsNow has been hacked. Evaluate the pie chart assuming that the analyst is trying to answer this question: “Which
Scatterplots are more meaningful if they include which of the following?a. Times series predictionb. Box plotc. Trend lined. Categorical variable
Why is a line chart a good option for visualizing a forecast?
Exploratory, diagnostic analytics includes which type of visualizations?a. Box plotsb. Scatterplotsc. Pivot chartsd. Times series graphs
Examine the data visualization below. Is it a histogram or a bar chart? How can you? Total Sales 2,000,000 1,500,000 1,000,000 500,000 North Total Sales by Region South Region East West
Match the data visualization with the type of business analytics (descriptive, diagnostic, predictive, or prescriptive) it is most associated with. Data Visualization Scatterplot Times series
In what way is a box plot more informative than a histogram?
When should you use a table instead of a bar chart?
Which of the following data are the values taken on by a variable at different points in time?a. Cross-sectional datab. Categorical datac. Numerical datad. Times series data
How does sorting help decision-makers more quickly grasp the information conveyed in a bar chart?
For each example, which descriptive data visualization is better : a pie chart or a bar chart or line chart. Example Trend of net income over the past 5 years Proportions (relative sales of each of
Pie charts lend themselves well to which type of data showing proportions?a. Categoricalb. Numericalc. Diagnosticd. Predictive
Why is a bar chart optimal for visualizing numerical data and a pie chart optimal for visualizing categorical data?
Identify which prescriptive analytics technique should be used to answer the following questions. Select from cash flow analysis, marginal/incremental analysis, goal-seek analysis, or scenario
Which scenario does an upper confidence bound in a time series represent?a. Most likelyb. Worst-casec. Best-cased. Most unlikely
Unlike exploratory analytics, confirmatory analytics area. Probabilistic.b. Deterministic.c. More challenging.d. Less challenging
Assume that we use weather as a factor to predict product demand. Which type of variable is weather?a. Dependentb. Independentc. Randomd. Predicted
Assume that a data analyst uses regression to predict the interest rate that a bank will quote to a borrower. Which type of variable is the interest rate?a. Dependentb. Independentc. Randomd.
If you are going to use a regression to predict how many factory workers FoxConn needs to hire in order to manufacture the next model of the Apple iPhone, what is the dependent variable, and what are
Determining a company’s break-even level of sales is an example of which type of analysis?a. Scenariob. Sensitivityc. Goal-seekd. Cash flow
The cost of a car battery is a major component of the cost of an electric car. Which confirmatory analytics techniques (including prescriptive analytics and predictive analytics) should a business
Predicting the impact of employee wages on net income is an example of which type of analysis?a. Scenariob. Sensitivityc. Goal-seekd. Cash flow
Which type of analysis starts with the desired outcome and works backward determine the necessary inputs?a. Scenariob. Sensitivityc. Goal-seekd. Cash flow
How might Netflix classify its customers into segments based on the following? Give examples of each and explain your answers.a. Communication touchpoints (websites, email, snail mail)b. Human
Not considering historical averages when making predictions of possible future events is known asa. Base rate fallacy.b. Base rate ignorance.c. Historical rate fallacy.d. Historical rate ignorance
Label each of the following confirmatory analytics techniques as either predictive or prescriptive analytics. Example of Analytics Technique Performed Predictive Analytics or Prescriptive
Which term refers to the repeatability (or continuity) and durability of critical variables such as earnings, sales, cash flows, and product demand?a. Time series analysisb. Persistencec. Base rated.
Label each of the following as the domain of descriptive, diagnostic, predictive, or prescriptive analytics. Example of Analytics Benford's Law Loan acceptance/rejection by bank/lender Sequence check
Label each of the following activities as an example of descriptive, diagnostic, predictive, or prescriptive analytics. Example of Analytics Bank reconciliation Fraud or no fraud expected in
Which predictive analytics technique would a data analyst use to place a company’s customers into different segments or categories?a. Classificationb. Regressionc. Time series analysisd. What-if
Let’s analyze the transactions by customer. Create a pivot table in Excel showing how many invoices are associated with each customer. In addition, include a column showing the average gross profit
Refer to the previous question concerning the internal data that can be used to predict Walmart’s sale of pecans at Thanksgiving. external data would be helpful in predicting these
In the Mini Case on Tide PODS in this chapter, you saw how a customer-facing display of data on Amazon’s website reflects different data types. Based on the data types identified in the Mini Case,
Download the file Regional Sales Dataset.xlsx. Using Excel, summarize sales by month, by sales region (regions 1–4), and by both month and region using a pivot table. (This problem may require a
Create a line chart illustrating the number of AM and PM travelers for each month in the Excel file Traveler. XC| = File Page Layout Protected View This file originated from an Internet location and
Create a pie chart for all the given dates and a stock chart for the high/low/close prices for March 2018 in the Stock Excel file.
The Excel file Expenditure contains data on a country’s expenditure on various sports during a particular year. Create a pie chart showing the percentage breakdown of total expenditure.
Create a stacked area chart for the monthly average sales of the different types of fuel in the Excel file Average Fuel Sales. What conclusion can you reach?
The Excel file Mortgage Installment provides the monthly installment of a mortgage loan by different fixed interest rate (%) provided by different banks. Construct a scatter diagram to show the
The Excel file Monthly Visits provides the data for monthly visitors visited a playground and the number of shows prepared by the playground organizer during the specific month. Create a scatter
Use the Excel file Graduation Employment to analyze the average salary and the average percentage of failure rate in interviews among the graduates from the different colleges. What conclusions do
Find the correlation between weekly food expenditure and monthly household income in the Excel file Food Expenditure.
Use the Excel file Test Scores and Sales, developed by nine salespersons during the past year, to find the coefficient of correlation between the test scores and sales.
The Excel file Employee Selection contains role of employees in an organization, along with other specifics— gender, salary, years of education, date of birth, and whether they are citizens of the
Answer the following by referring to the scenario described in Problem 4.a. Let A be the event “without blue marble.” Find P(A).b. Let B be the event “first marble selected is green.” Find
The Excel file Diabetes Check contains the records of patients with diabetes who have received treatment at a local hospital. Number each row in the dataset and help the hospital to select a simple
The Excel file High Blood Pressure records the results of 30 individuals who were tested for hypertension. Use the Excel Sampling tool to obtain a random sample of 5 individuals and compute point
Using the Excel file Diabetes Check, draw five random samples by repeating the sampling experiment for sample sizes 10, 15, and 20. For each sample sizes, find the stabilized glucose point estimates
For the Excel file Total Population, find a normalized distance matrix between Arkansas, Delaware, South Carolina, and South Dakota states. Apply single linkage clustering to these states and draw a
Looking at the data and information in the Excel file TV Viewing Survey, state some examples of interesting hypothesis tests by proposing null and alternative hypotheses similar to those in Example
Use http://www.fao.org/faostat/en/#data to extract an annual dataset for any topic of your interest that would aid in constructing a statistical forecasting model analysis. Download the relevant
A researcher is analyzing the body fat percentage based on the measurements of triceps, thigh, and mid-arm of a person (in inches). The data is recorded in the Excel file Body Fat Percentage.a. Use
Convert the Hospital Claim database to an Excel table. Use the techniques described in Example 2.4 to find:a. The total number of claims.b. The total number of outpatient claims.c. The total number
Convert the Order Specifications database to an Excel table. Use the techniques described in Example 2.4 to find:a. The total cost of all orders.b. The total cost of all orders placed with
The Excel file Stationary provides the sales data for a stationary company, and each row represents an order for its products. Convert these data into an Excel table and filter the central region for
A shirt manufacturer needs to supply invoices to customers based on data from the Shirt Production Excel file, which indicates the costs (in £) and sizes. Modify the file to use the VLOOKUP function
In the Factvalue database, you need to find the country with a birth rate of 29.43 and identify the country’s death rate. Write functions for a left table lookup to answer these queries.
Match the analytics type (descriptive, diagnostic, predictive, or prescriptive) to the analytics technique used. Analytics Technique Used Goal-seek analysis for CPC rate Ishikawa diagram for low
Assume that a company purchases a month’s worth of ad time on a digital billboard in a major city. How could the company evaluate the campaign’s impact on customers?
Have you ever noticed that almost immediately after you search for something on the internet, you get a pop-up ad for a related item? Why do you think marketers use pop-up ads?
A graph displaying KPIs for several years by marketing channel is an example of which type of analytics?a. Descriptiveb. Diagnosticc. Predictived. Prescriptive
IoT, which stands for Internet of Things, refers to a network of physical objects that have a unique ID, connect to the internet, and can gather and share information. Examples include Fitbit, Smart
A CRM system manages all of a company’s interactions with which of the following?a. Chief executive officersb. Clerical staffc. The corporate suite (C-suite)d. Customers
What is the difference between a website bounce rate and cart abandonment rate? How are the terms related to conversion rate?
Which of the following captures all interactions with a customer?a. Customer journey analyticsb. Digital analyticsc. Social media analyticsd. Web analytics
Which technique is used to conduct a root cause analysis?a. Decision treeb. Ishikawa diagramc. Scenario analysisd. Summarization
Determining the sensitivity of a bank’s profits to changing interest rates is an example of which type of financial analytics?a. Prescriptive analyticsb. Descriptive analyticsc. Diagnostic
Classify each Altman’s Z-score as either in the distress zone, gray zone, or safe zone with respect to risk of bankruptcy. Altman's Z-Score 1.81 3.05 2.57 1.03 5.73 -0.25 Distress Zone, Gray Zone,
Compare and contrast the three primary branches of finance.
The three primary branches of finance include all of the following excepta. Corporate finance.b. Investments.c. Financial market and institutions.d. Banking.

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