Question 1

SCENARIO 14-1
The table below contains the sparklines for the rates of return (in percentage) for three different stocks from 2007 to 2013. 
-Referring to SCENARIO 14-1, the rates of return of stock have the smallest variation among the three.

Accepted Answer

B

Question 2

Which of the following finds relationships in data that may not be readily apparent?
A)Predictive analytics
B)Prescriptive analytics
C)Productive analytics
D)Descriptive analytics

Accepted Answer

A

Question 3

Double-clicking a cell in a PivotTable causes Excel to drill down and display the underlying data in a new worksheet.

Accepted Answer

Double-clicking a cell in a PivotTable will open a new worksheet displaying the underlying data that makes up that cell. This is called "drilling down" into the PivotTable.

Question 4

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using a drill-down.

Accepted Answer

The answer of Some business analytics involve starting with many...

Question 5

Treemaps that use color to represent the value of a second variable, thereby increasing the data density of the displays, is an example of chartjunk.

Accepted Answer

This statement is false. The use of color to represent a second variable in treemaps is not considered chartjunk, but rather a useful method for displaying additional information and increasing data density. Chartjunk refers to unnecessary or distracting graphical elements that do not add value or meaning to the data being presented.

Question 6

Most information design specialists prefer bullet graphs over gauges because bullet graphs foster the direct comparison of each measurement.

Accepted Answer

Bullet graphs allow for a more precise comparison between data points, making them a preferred choice over gauges for many information design specialists.

Question 7

Bullet graphs that use color to represent the value of a second variable, thereby increasing the data density of the displays, is an example of chartjunk.

Accepted Answer

Bullet graphs that use color to represent a second variable is not considered as chartjunk as it helps in increasing the data density and improves the overall readability and comprehension of the data. Chartjunk refers to unnecessary or distracting elements added to a graph or chart, which do not contribute to the understanding of the data.

Question 8

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using a slicer.

Accepted Answer

This is true. Slicers in Excel allow users to filter data by exploring specific combinations of categorical values or numerical ranges, mimicking the approach of starting with many variables and then filtering the data.

Question 9

Which of the following investigates what should occur and suggest the best course of action for the future?
A)Predictive analytics
B)Prescriptive analytics
C)Productive analytics
D)Descriptive analytics

Accepted Answer

Prescriptive analytics investigates what should occur and suggests the best course of action for the future based on the insights provided by predictive analytics and other data sources. It goes beyond forecasting and provides recommendations on how to take advantage of a future opportunity or mitigate a future risk.

Question 10

Which of the following explores business activities that have occurred or are occurring in the present moment?
A)Predictive analytics
B)Prescriptive analytics
C)Productive analytics
D)Descriptive analytics

Accepted Answer

Descriptive analytics involves the exploration of current or historical data to understand the status quo and gain insights into business activities that have occurred or are occurring in the present moment. It does not involve prediction, prescription, or productivity analysis.

Question 11

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using gauges.

Accepted Answer

The statement correctly describes filtering data by exploring specific combinations of categorical or numerical variables, but gauges are not used for this purpose in Excel. Gauges are typically used to display a single value or metric in a visual manner. Excel offers advanced filtering options such as slicers, pivot tables, and power queries to filter data based on specific criteria.

Question 12

Some business analytics are performed by adding variables to see if unforeseen relationships are uncovered.

Accepted Answer

This is true. Adding variables to a business analytics model can help identify hidden relationships and patterns that may not have been initially evident. This can lead to valuable insights for businesses.

Question 13

Which of the following disciplines is typically NOT involved in business analytics?
A)Economics
B)Statistics
C)Information system
D)Management science

Accepted Answer

Economics is not typically involved in business analytics. While economics can provide valuable insights into the broader economic climate, the other disciplines listed (statistics, information systems, and management science) are more directly related to the collection, analysis, and application of data within a business context.

Question 14

You can compute any of the numerical descriptive statistics for the variables of the new worksheet that a drill-down in a PivotTable creates.

Accepted Answer

Yes, this is true. Once a drill-down in a PivotTable creates a new worksheet with the underlying data, you can perform any numerical descriptive analysis on the variables present within the data.

Question 15

There is no significant difference between filtering performed in a complex real- world business analytic and filtering performed using the slicers in a PivotTable in Excel.

Accepted Answer

Filtering in a complex real-world business analytics involves multiple data sources and complex algorithms that cannot be replicated by simple slicers in Excel's PivotTable. The data volume and complexity of filtering in real-world analytics are much larger than that of simple PivotTable slicers.

Question 16

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.

Accepted Answer

This is true. In business analytics, it is common to start with a large amount of data, and then use filtering techniques to explore specific combinations of categorical values or numerical ranges to gain insights about the data.

Question 17

Which of the following is NOT among the three broad categories of analytic methods?
A)Predictive analytics
B)Prescriptive analytics
C)Productive analytics
D)Descriptive analytics

Accepted Answer

The three broad categories of analytic methods are descriptive analytics, predictive analytics, and prescriptive analytics. "Productive analytics" is not a recognized category.

Question 18

Dashboards may contain which of the following?
A)Treemaps
B)Gauges
C)Contingency table
D)All of the above

Accepted Answer

Dashboards can include various types of visualizations and data representations such as treemaps, gauges, and contingency tables, making "All of the above" the correct choice.

Question 19

SCENARIO 14-1
The table below contains the sparklines for the rates of return (in percentage) for three different stocks from 2007 to 2013. 
-Referring to SCENARIO 14-1, the pattern of the rates of return of stock and stock are similar.

Accepted Answer

The answer of SCENARIO 14-1
The table below contains the sparklines...

Question 20

In real-world business analytics, filtering is typically performed on large data based on complex conditional relationships.

Accepted Answer

Filtering in business analytics involves analyzing large data sets based on complex conditional relationships to extract the relevant information.

Quiz 14: Business Analytics

SCENARIO 14-1 The table below contains the sparklines for the rates of return (in percentage) for three different stocks from 2007 to 2013. -Referring to SCENARIO 14-1, the rates of return of stock have the smallest variation among the three.

Which of the following finds relationships in data that may not be readily apparent?

Double-clicking a cell in a PivotTable causes Excel to drill down and display the underlying data in a new worksheet.

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using a drill-down.

Treemaps that use color to represent the value of a second variable, thereby increasing the data density of the displays, is an example of chartjunk.

Most information design specialists prefer bullet graphs over gauges because bullet graphs foster the direct comparison of each measurement.

Bullet graphs that use color to represent the value of a second variable, thereby increasing the data density of the displays, is an example of chartjunk.

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using a slicer.

Which of the following investigates what should occur and suggest the best course of action for the future?

Which of the following explores business activities that have occurred or are occurring in the present moment?

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel, this approach is mimicked by using gauges.

Some business analytics are performed by adding variables to see if unforeseen relationships are uncovered.

Which of the following disciplines is typically NOT involved in business analytics?

You can compute any of the numerical descriptive statistics for the variables of the new worksheet that a drill-down in a PivotTable creates.

There is no significant difference between filtering performed in a complex real- world business analytic and filtering performed using the slicers in a PivotTable in Excel.

Some business analytics involve starting with many variables, followed by filtering the data by exploring specific combinations of categorical values or numerical range.

Which of the following is NOT among the three broad categories of analytic methods?

Dashboards may contain which of the following?

SCENARIO 14-1 The table below contains the sparklines for the rates of return (in percentage) for three different stocks from 2007 to 2013. -Referring to SCENARIO 14-1, the pattern of the rates of return of stock and stock are similar.

In real-world business analytics, filtering is typically performed on large data based on complex conditional relationships.