Multiple Choice
1. The decisions concerning an organization’s goals and future plans are called _____.
a.
financial decisions
b.
tactical decisions
c.
strategic decisions
d.
operational decisions
ANSWER:
c
2. Tactical decisions are concerned with _____.
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.
how the organization should achieve the goals and objectives set by its strategy
ANSWER:
d
3. 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) _____.
a.
tactical decision
b.
operational decision
c.
strategic decision
d.
financial decision
ANSWER:
c
4. _____ is the most critical step of the decision-making process.
a.
Choosing an alternative
b.
Identifying and defining the problem
c.
Evaluating the alternatives
d.
Determining the set of alternatives
ANSWER:
b
5. Which of the following is not an approach to making decisions?
a.
Tradition
b.
Rules of thumb
c.
Intuition
d.
Guess and check
ANSWER:
d
6. Data-driven decision making tends to decrease a firm's _____.
a.
market value
b.
productivity
c.
risk
d.
profit
ANSWER:
c
7. Data dashboards are a type of _____analytics.
a.
predictive
b.
descriptive
c.
prescriptive
d.
decision
ANSWER:
b
8. 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 _____
a.
spreadsheet models
b.
data dashboards
c.
data mining
d.
data queries
ANSWER:
d
9. Corporate-level managers use ______ to summarize sales by region, current inventory levels, and other company-wide metrics all in a single screen.
a.
simulations
b.
crosstabulation
c.
data dashboards
d.
tables
ANSWER:
c
10. A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is an example of _____.
a.
predictive analytics
b.
decision analysis
c.
prescriptive analytics
d.
descriptive analytics
ANSWER:
a
11. Which one of the following is used in predictive analytics?
a.
Data dashboard
b.
Linear regression
c.
Data visualization
d.
Optimization model
ANSWER:
b
12. 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.
a.
Data query
b.
Simulation
c.
Data mining
d.
Data dashboards
ANSWER:
c
13. _____ are used in the pharmaceutical industry to assess the risk of introducing a new drug.
a.
Data dashboards
b.
Charts
c.
Spreadsheet models
d.
1. The decisions concerning an organization’s goals and future plans are called _____.
a.
financial decisions
b.
tactical decisions
c.
strategic decisions
d.
operational decisions
ANSWER:
c
2. Tactical decisions are concerned with _____.
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.
how the organization should achieve the goals and objectives set by its strategy
ANSWER:
d
3. 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) _____.
a.
tactical decision
b.
operational decision
c.
strategic decision
d.
financial decision
ANSWER:
c
4. _____ is the most critical step of the decision-making process.
a.
Choosing an alternative
b.
Identifying and defining the problem
c.
Evaluating the alternatives
d.
Determining the set of alternatives
ANSWER:
b
5. Which of the following is not an approach to making decisions?
a.
Tradition
b.
Rules of thumb
c.
Intuition
d.
Guess and check
ANSWER:
d
6. Data-driven decision making tends to decrease a firm's _____.
a.
market value
b.
productivity
c.
risk
d.
profit
ANSWER:
c
7. Data dashboards are a type of _____analytics.
a.
predictive
b.
descriptive
c.
prescriptive
d.
decision
ANSWER:
b
8. 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 _____
a.
spreadsheet models
b.
data dashboards
c.
data mining
d.
data queries
ANSWER:
d
9. Corporate-level managers use ______ to summarize sales by region, current inventory levels, and other company-wide metrics all in a single screen.
a.
simulations
b.
crosstabulation
c.
data dashboards
d.
tables
ANSWER:
c
10. A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is an example of _____.
a.
predictive analytics
b.
decision analysis
c.
prescriptive analytics
d.
descriptive analytics
ANSWER:
a
11. Which one of the following is used in predictive analytics?
a.
Data dashboard
b.
Linear regression
c.
Data visualization
d.
Optimization model
ANSWER:
b
12. 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.
a.
Data query
b.
Simulation
c.
Data mining
d.
Data dashboards
ANSWER:
c
13. _____ are used in the pharmaceutical industry to assess the risk of introducing a new drug.
a.
Data dashboards
b.
Charts
c.
Spreadsheet models
d.