Questions and Answers of Business Analytics Data

A grocery store manager wants to analyze customer spending data by product categories: fresh baked goods, meat and dairy, produce, and frozen food. For each shopping trip, about 30% of shoppers
An airline company has a flight with a capacity of 150 seats regularly scheduled from Boston to San Francisco. On average, only 90% of the ticket holders show up for the flight, and the airline
A young couple starts a college-savings fund for their newborn baby and invests $20,000 in a broad market index fund and $10,000 in a high-growth index fund. Historically, the annual return of the
Describe specific types of questions asked in auditing that might require descriptive, diagnostic, predictive, and prescriptive analytics (one question for each). Also describe the types of specific
Match the branch of accounting (financial, managerial, audit, or tax) to each example accounting question. Example Accounting Question Are there errors in the financial statements provided by our
Describe the role of tax accounting.
A graph displaying net income over the past four years results from which type of analytics?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive analytics
Match the accounting data sources to the branch of accounting (financial, managerial, audit, or tax). Accounting Data Source SEC filings (10-K, 10-Q) Point-of-sale information Press releases Budget
Budget data are an example of which kind of accounting data?a. Financial accountingb. Managerial accountingc. Auditingd. Tax accounting
Describe specific types of questions asked in tax accounting that might require descriptive, diagnostic, predictive, and prescriptive analytics (one question for each). Also describe the types of
Managerial accounting does not have any rules and standards. How do managerial accountants know which information to analyze?
You’re an auditor and you’re looking for fraudulent transactions.Requireda. If you had access to any accounting records you wanted (with details of every transaction), where would you look?
Which form is a required annual submission to the Securities and Exchange Commission?a. 10-Qb. 10-Kc. 8-Kd. Press release
Refer to Exhibit 8.19. Is J.B. Hunt’s performance improving or declining overall? Why is it improving or declining in the most recent year? Which specific line items help you answer these
Match each type of analysis to its analytics type (descriptive, diagnostic, predictive, or prescriptive). Types of Analysis Ratio analytics Bank reconciliation Scenario analytics Pivot table
Match the business analytics technique included in Excel’s Data Analysis Tool-Pak to its use. Business Analytics Technique Included in Excel's Data Analy- sis
Describe questions that external and internal auditors can use business analytics to answer.
What are some examples of diagnostic analytics for those in financial accounting? Managerial accounting?
Assessing a company’s cost structure is an example of which type of analytics?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive analytics
Describe sources of financial accounting data helpful in addressing questions associated with descriptive analytics.
Using the exhibit and description in Problem 7 above, evaluate the sensitivity ofn profits to changing levels of fixed costs and product sales price.Requireda. Which has a greater impact on
Management accountants can use the following table to perform a sensitivity analysis, evaluating the company’s changing profitability based on two important inputs: (1) the level of total fixed
What prescriptive analytics technique is used to determine the break-even level of sales?a. Sensitivity analysisb. Scenario analysisc. Cash flow analysisd. Goal-seek analysis
How does vertical analysis serve as a descriptive analytics technique to describe what is happening?
Which type of analytics looks for anomalies and outliers? Defend your choice.
What is the difference between the predictive analytics techniques of classification and regression?
Which predictive analytics technique is generally used to forecast future sales, earnings, and cash flows?a. Time series analysisb. Classificationc. Regressiond. Goal-seek analysis
Download the Costs of Production data set in Excel. Note the Units of Production (labeled Production) in Column B and the Total Costs (labeled Cost) by week.Requireda. Perform a regression analysis
Which analytics technique evaluates the percentage change in performance from one period to the next?a. Verticalb. What-ifc. Classificationd. Horizontal
Which type of analytics will analysts use to optimize company performance based on expected changes in tax law? Explain.
Which type of analytics will a company use to answer the question of whether it should rent or own its headquarters office building? Explain.
The Human Resources department of a large technology company maintains personnel information on each employee’s personality type based on the Myers-Briggs assessment. The accompanying data file
The accompanying data file shows the salary (in $) and work experience (in years) for 100 employees in a marketing
The Human Resources department of a large technology company maintains personnel information on each employee’s personality type based on the Myers-Briggs assessment. The accompanying data file
Senior executives at Skyhigh Construction, Inc., participate in a pick-your-salary plan. They choose salaries in a range between $125,000 and $150,000. By choosing a lower salary, an executive has an
Approximately 23% of Americans will not use an online bank (The Ascent, January 21, 2021).a. In a sample of 50 Americans, what is the probability that more than 20% do not use an online bank?b. In a
A local pharmacy administers an average of 84 Covid-19 vaccines per week. The vaccine shots are evenly administered across all days.a. Find the probability that the number of vaccine shots
For each business analytics task, identify the correct step in the SOAR analytics model. Business Analytics Task Deciding which data to use in the analysis Running a statistical analysis to evaluate
Match each business analytics term to its definition. Term 1. Data integrity 2. Business analytics 3. Data 4. Accounting analytics 5. Marketing analytics Definition a. Raw numbers and facts that have
Explain the information value chain by summarizing how data are transformed into knowledge insights for decision-making. Use the example of a book review of this book on Amazon and how it help the
For each of the questions in Problem 2, determine which type of analytics might address it: marketing analytics, accounting analytics, financial analytics, and/or operations analytics. Some questions
Which phase of the SOAR analytics model addresses the proper way to communicate results to the decision-maker?a. Specify the questionb. Obtain the datac. Analyze the datad. Report the results
Explain the difference between a decision-maker, a data scientist, and a business analyst. What is the role of each?
Explain the Netflix mini case in this chapter and its enhanced recommender system in terms of the information value chain. Specifically, how did Netflix turn data and context into decisions?
Which phase of the SOAR analytics model involves finding the most appropriate data needed to address the business question?a. Specify the questionb. Obtain the datac. Analyze the datad. Report the
Match each definition to the correct term. All terms refer to the information value chain.a. Datab. Contextc. Informationd. Knowledgee. Decision Definition Raw numbers and facts that have little
Compare and contrast marketing analytics with accounting analytics. How are they similar? How are they different?
The Harps grocery store chain buys its paper goods (paper towels, toilet paper, tissues) in bulk from one supplier to get a discount. Assume that about once a month it runs out of stock of a few of
Which questions seek information about Tesla’s sales in the next quarter?a. What happened? What is happening?b. Why did it happen? What are the causes of past results?c. Will it happen in the
Compare and contrast financial analytics with operations analytics. How are they similar? How are they different?
Identify the four steps in the SOAR analytics model. Explain how marketing analysts might use the SOAR model to help Netflix better understand its customers.
Download the DJI Mavic Drone SKU data set. In Excel, calculate the gross margin (Sales Price – Cost) and gross margin percentage [(Sales Price – Cost)/Sales Price] for each SKU (product).a. Which
Identify the five sets of questions that are asked in business analytics. Brainstorm different types of business-related questions that might fit in each of the five question sets.
Consider the data qualities of relevance and reliability. Explain why each quality and both qualities together are valuable to business analysts.
Which term refers to the combined accuracy, validity, and consistency of data stored and used over time?a. Data integrityb. Data overloadc. Data valued. Information value
Some argue that a picture is worth a thousand clicks. Argue for and against the use of data visualizations when reporting the results.
A specialist who knows how to work with, manipulate, and statistically test data is a:a. Decision makerb. Data scientistc. Data analystd. Decision scientist
Which type of analyst predicts the amount of money that a company will receive from its customers to help management evaluate future investments based on expected investment performance, such as
Which type of analyst addresses questions regarding taxes and auditing?a. Marketing analystb. Operations analystc. Financial analystd. Accounting analyst
Suppose a company has timely product reviews that are available when needed, but the reviews are biased. These product reviews are which type of data?a. Reliableb. Relevantc. Curatedd. Consistent
Which common visualization type shows trends in values over time?a. Line graphb. Scatterplotc. Pie chartd. Bar chart
Which common visualization type shows the composition of values over time?a. Line graphb. Scatterplotc. Pie chartd. Bar chart
Give five examples of business processes at Tesla. How do they create business value for Tesla and its shareholders?
How might data analytics be used in the each of the following situations? Explain your answer.a. Determining where to locate a Black Bear Diner (a restaurant that serves homestyle and old-fashioned
Match each business analytics term to its definition. Term 1. Information 2. Dashboard 3. Dynamic report 4. Data overload 5. Context Definition a. The setting, event, statement, or situation in which
A coordinated, standardized set of activities conducted by both people and equipment to accomplish a specific business task is called a:a. Business process.b. Business analysis.c. Business
Explain the information value chain by summarizing how data are transformed into knowledge insights for decision-making. Use the example of a book review on Amazon and how it might lead Amazon to
For each business analytics task, identify the correct step in the SOAR analytics model. Business Analytics Task Creating a dashboard that provides daily sales in the Northeast region of the
Tesla is considering each of the following questions. Identify whether the company will use descriptive, diagnostic, predictive, prescriptive, or adaptive/ autonomous tools to answer them. Provide
Northwind Traders is a fictitious specialty foods company created by Microsoft, which has also created a fictitious database for the company. The Northwind database includes several tables, including
Why is validating the data for completeness and integrity an important component of obtaining the data?
Data that identify letter grades for students (A, B, C, D, F) are:a. Ratio data.b. Ordinal data. c. Numerical data.d. Interval data.
Match each data example to its appropriate data type. Choose from structured nominal, structured ordinal, structured interval, structured ratio, or unstructured. Data Example SAT scores and scores
What is ETL and how does it relate to obtaining the data?
Match each data example to its appropriate data type: categorical or numerical. Data Example Fahrenheit scale Survey answers: agree, indifferent, disagree Advertising expense Employee choice of
The text in blog posts is generally considered to be:a. Structured data.b. Interval data.c. Unstructured data.d. Ratio data.
What is a limitation of range as a measure of dispersion?
Identify each summarization method as numerical, categorical, or both. Summarization Method Counting and grouping Averaging Proportion Ranking Summing Numerical, Categorical, or Both
Match each term to its definition. Term 1. Data dictionary 2. Nominal data 3. Ordinal data 4. Ratio data Interval data Definition a. Categorical data that cannot be ranked b. Numerical data measured
Why is an understanding of the way data are structured in a relational database (particularly regarding primary keys and foreign keys) important?
Which step in the ETL process (ensuring data quality, validating the data, cleansing the data, or performing preliminary exploratory analysis) do you think is the most time-consuming? Which do you
Are exam grades classified as interval data or ratio data? Why? Keep in mind that in typical exams, a score of 0 means that you answered every question wrong (or didn’t answer the question at all).
A dimension in Tableau is which type(s) of data?a. Categoricalb. Numericalc. Both categorical and numerical
Averaging is a summarization method for which type(s) of data?a. Categoricalb. Numericalc. Both categorical and numerical
Why is net income or net sales better defined as ratio data instead of interval data?
If you could have any internal data you wanted, which data would you use to predict Walmart’s sale of pecans at Thanksgiving time each year?
How could economic indicators, such as unemployment and GDP, help predict sales in the next quarter and the next year?
Employee salaries are examples of:a. Interval data.b. Ratio data.c. Ordinal data.d. Unstructured data.
Match the software tool (Alteryx, Excel, Gretl, Power BI, Python, Tableau, Tableau Prep) with its description. Description of Software Tool Similar to Tableau Prep, but offers more file types for the
A measure in Tableau is which type(s) of data?a. Categoricalb. Numericalc. Both categorical and numerical
Which function in Excel or Power BI can be used to remove nonprintable characters?a. TRIM()b. CLEAN()c. REMOVE()d. CUT()
Which quartile is the cutoff for the median?a. Quartile 1b. Quartile 2c. Quartile 3d. Quartile 4
Examine the scatterplots below. Identify which scatterplot exhibits:a. Strong positive correlationb. Positive correlationc. No correlationd. Negative correlatione. Strong negative correlation
If the p-value of the test statistic in a hypothesis test equals 0.04 and alpha is set at 5%, do you reject or fail to reject the null hypothesis?
Identify whether you expect a positive correlation, a negative correlation, or no correlation for the following scenarios.a. The relationship between time spent brushing your teeth and the number of
When comparing data sets, which visualization is more helpful, a histogram or a box plot? Why?
Which of the following show how data sets compare to each other with a visual representation of data dispersion by quartiles?a. Bar graphsb. Box plotsc. Histogramsd. Line charts
Why are standard deviation and the interquartile range better measures of dispersion than range?
Match each statistical term to its definition. Statistical Term 1. interquartile range 2. histogram 3. parameter 4. statistic 5. range Description a. A characteristic of a population b. A
Which of the following is a characteristic of the population?a. Parameterb. Statisticc. Type I errord. Regression

Showing 500 - 600 of 946