Question 1

______ helps in constructing a mathematical model to predict the future sales, based on past data.

Accepted Answer

A)   Predictive analytics
B)   Decision analysis
C)   Prescriptive analytics
D)   Descriptive analyticsE) B) and C)
F) All of the above

Question 2

Simulation optimization helps:

Accepted Answer

A)   in identifying the constraints of the situation.
B)   to find good decisions in highly complex and highly uncertain settings.
C)   in assigning values to outcomes.
D)   to model certainty with optimization techniques.E) B) and D)
F) All of the above

Question 3

_____ is the most critical step in a decision making process.

Accepted Answer

A)   Choosing an alternative
B)   Identifying and defining the problem
C)   Evaluating the alternatives
D)   Determining the set of alternativesE) B) and C)
F) C) and D)

Question 4

The U.S. Internal Revenue Service uses ______ to identify patterns that distinguish questionable annual personal income tax filings.

Accepted Answer

A)   utility theory
B)   prescriptive analytics
C)   data mining
D)   decision analysisE) A) and B)
F) A) and C)

Question 5

Walmart handles over one million purchase transactions per hour. Although the data represents opportunities,

Accepted Answer

A)   it also presents analytical challenges from a processing point of view.
B)   it can be processed, or analyzed in a reasonable amount of time.
C)   it has itself led to a decrease in the use of analytics.
D)   it seldom has valuable applications of analytics.E) B) and C)
F) A) and C)

Question 6

Supply network design models provide the cost-minimizing plant and distribution center locations subject to meeting the customer service requirements. This model is referred as

Accepted Answer

A)   Optimization models.
B)   Forecasting models.
C)   Data mining models.
D)   Network models.E) None of the above
F) A) and D)

Question 7

Firms guided by data-driven decision making have

Accepted Answer

A)   higher market value.
B)   lower productivity.
C)   higher risk.
D)   lower profit.E) All of the above
F) C) and D)

Question 8

Tactical decisions define:

Accepted Answer

A)   the day-to-day activities of the organization.
B)   the goals and plans of the organization.
C)   the domain of operations managers, who are close to the customer.
D)   the steps taken to achieve the goals and objectives.E) None of the above
F) A) and B)

Question 9

______ assigns values to outcomes based on the decision maker's attitude toward risk, loss, and other factors.

Accepted Answer

A)   Simulation optimization
B)   Utility theory
C)   Optimization model
D)   Data dashboardE) B) and D)
F) None of the above

Question 10

Web sites and social media sites use descriptive and advanced analytics to data collected in online experiments:

Accepted Answer

A)   to position ads for the promotion of products and services.
B)   to schedule staff and vehicle.
C)   to design its premium seating offerings.
D)   to decide how much to offer players in contract negotiations.E) None of the above
F) All of the above

Exam 1: Introduction

_____ is the most critical step in a decision making process.

Correct Answer
verified

The U.S. Internal Revenue Service uses ______ to identify patterns that distinguish questionable annual personal income tax filings.

Correct Answer
verified

Tactical decisions define:

Correct Answer
verified

______ helps in constructing a mathematical model to predict the future sales, based on past data.

Correct Answer
verified

Walmart handles over one million purchase transactions per hour. Although the data represents opportunities,

Correct Answer
verified

Supply network design models provide the cost-minimizing plant and distribution center locations subject to meeting the customer service requirements. This model is referred as

Correct Answer
verified

Simulation optimization helps:

Correct Answer
verified

______ assigns values to outcomes based on the decision maker's attitude toward risk, loss, and other factors.

Correct Answer
verified

Web sites and social media sites use descriptive and advanced analytics to data collected in online experiments:

Correct Answer
verified

Firms guided by data-driven decision making have

Correct Answer
verified

Exam 1: Introduction

_____ is the most critical step in a decision making process.

Correct AnswerverifiedShow Answer

The U.S. Internal Revenue Service uses ______ to identify patterns that distinguish questionable annual personal income tax filings.

Correct AnswerverifiedShow Answer

Tactical decisions define:

Correct AnswerverifiedShow Answer

______ helps in constructing a mathematical model to predict the future sales, based on past data.

Correct AnswerverifiedShow Answer

Walmart handles over one million purchase transactions per hour. Although the data represents opportunities,

Correct AnswerverifiedShow Answer

Supply network design models provide the cost-minimizing plant and distribution center locations subject to meeting the customer service requirements. This model is referred as

Correct AnswerverifiedShow Answer

Simulation optimization helps:

Correct AnswerverifiedShow Answer

______ assigns values to outcomes based on the decision maker's attitude toward risk, loss, and other factors.

Correct AnswerverifiedShow Answer

Web sites and social media sites use descriptive and advanced analytics to data collected in online experiments:

Correct AnswerverifiedShow Answer

Firms guided by data-driven decision making have

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified