Business Statistics: For Contemporary Decision Making 3rd Canadian Edition by Ken Black Test bank

115. Simulation, statistical modeling, time-series and regression are topics in ____________.
a) predictive analytics
b) prescriptive analytics
c) data visualization
d) network analytics
e) information graphics
Ans: a
Difficulty: Medium
Learning Objective: Compare and contrast the three categories of business analytics.
Section Reference: 1.4 Business Analytics
Bloom’s level: Knowledge
AACSB: Analytic
116. A company uses business analytics to focus on the best course of action within specific
circumstances. This would fit within which category of business analytics?
a) Descriptive
b) Predictive
c) Metric
d) Prescriptive
e) Mining
Ans: d
Difficulty: Medium
Learning Objective: Compare and contrast the three categories of business analytics.
Section Reference: 1.4 Business Analytics
Bloom’s level: Knowledge
AACSB: Analytic
Introduction to Statistics  1 - 42

117. Predictive analytics focus on how past patterns might occur in the future. These analyses
often rely on patterns that are _______ the future.
a) repeated into
b) decreasing in
c) increasing in
d) steady in
e) extrapolated into
Ans: e
Difficulty: Medium
Learning Objective: Compare and contrast the three categories of business analytics.
Section Reference: 1.4 Business Analytics
Bloom’s level: Knowledge
AACSB: Analytic
118. The category of business analytics that is often used to optimize the performance of a
system in the business would be __________.
a) Descriptive
b) Prescriptive
c) Metric
d) Predictive
e) Mining
Ans: d
Difficulty: Medium
Learning Objective: Compare and contrast the three categories of business analytics.
Section Reference: 1.4 Business Analytics
Bloom’s level: Knowledge
AACSB: Analytic
119. Data visualization is a strategy used to:
a) help analysts see the data points
b) convey information as a visual object
c) arrange data so that it can be imported into a statistical analysis program
d) plan a research project
e) transform data into inferential statistics
Ans: b
Difficulty: Medium
Learning Objective: Describe the data mining and data visualization processes.
Section Reference: 1.5 Data Mining and Data Visualization
Bloom’s level: Knowledge
AACSB: Analytic
120. By transforming data from social media and competitors, an analyst was able to identify a
relationship between an increase in the number of positive online comments about the company
1 - 43  test bank for Business Statistics, Third Canadian Edition

and negative marketing ads from its competitors. This relationship was most likely found
through _____________ .
a) the process of data visualization
b) the production of data
c) the process of data elimination
d) the process of data mining
e) the managing of data mining
Ans: d
Difficulty: Medium
Learning Objective: Describe the data mining and data visualization processes.
Section Reference: 1.5 Data Mining and Data Visualization
Bloom’s level: Comprehension
AACSB: Analytic
121. A company is concerned that the data it has acquired has become so large that its
practical use is severely limited) They decide to extract patterns from its present data,
increasing its essential value). This is an example of:
a) data visualization
b) business optimization
c) data mining
d) volume analysis
e) predictive mining
Ans: c
Difficulty: Medium
Learning Objective: Describe the data mining and data visualization processes.
Section Reference: 1.5 Data Mining and Data Visualization
Bloom’s level: Comprehension
AACSB: Analytic
122. A CEO wants to depict information in creative ways by effectively using bars charts and
line graphs. This strategy is an example of ____________:
a) data extraction
b) data mining
c) data interpretation
d) data visualization
e) data elimination
Ans: d
Difficulty: Medium
Learning Objective: Describe the data mining and data visualization processes.
Section Reference: 1.5 Data Mining and Data Visualization
Bloom’s level: Comprehension
AACSB: Analytic
123. Which is not a primary goal of data mining?
a) turning raw data into useful information
Introduction to Statistics  1 - 44

b) discovering and interpreting useful information
c) converting data into useful forms
d) making date accessible to business analytics users
e) deriving results that build a consensus
Ans: e
Difficulty: Medium
Learning Objective: Describe the data mining and data visualization processes.
Section Reference: 1.5 Data Mining and Data Visualization