The act of collecting data that are representative of the population data is called

a. random sampling.

b. sample data.

c. population sampling.

d. sources of data.
Which of the following sources of big data is not publicly available?

a. Weather data

b. Medical records

c. Sports records

d. Twitter
Optimization models can be used to

a. decide on how to invest cash received from insurance policies.

b. forecast future financial performance.

c. successfully manage commercial real estate risk.

d. assess the risk of investment portfolios.

The amount of time taken by each of 10 students in a class to complete an exam is an example of
what type of data?

a. Cannot be determined.

b. Categorical data

c. Time series data

d. Quantitative

data

A set of values corresponding to a set of variables is defined as a(n)

a. quantity.

b. observation.

c. event.

d. factor.
Simulation optimization helps

a. in identifying the constraints of the situation.

b. to model certainty using optimization techniques.

 c. in assigning values to outcomes.

d. to find good decisions in highly complex and highly uncertain settings.

-----analytics use techniques that take input data and yield a best course of action.

a. Operational

b. Strategic

c. Simulation

d. Prescriptive
Which of the following is not an approach to making decisions?

a. Guess and check

b. Rules of thumb

c. Tradition

d. Intuition

A __________ decision involves higher-level issues and is concerned with the

overall direction of the organization, defining the overarching goals and aspirations
for the organization's future.
a. tactical

b. strategic

c. intuitive

d. operational

Which of the following analytical techniques helps us arrive at the best decision?

a. Descriptive analytics

b. Predictive analytics

c. Data mining

d. Prescriptive analytics
In a survey of patients in a local hospital, 62.42% of the respondents indicated that the
health care providers needed to spend more time with each patient. Who makes up the
population?

a. All survey respondents

b. All patients in a local hospital

 c. Hospital patients

d. Cannot be determined from the information given.

A quantity of interest that can take on different values is known as a(n)

a. variable.

b. observation.

c. sample.

d. parameter.

 Check My Work
__________ are collected from several entities at the same point in time.

a. Cross-sectional data

b. Categorical and quantitative data

c. Time series data

d. Random data

Which of the following best exemplifies big data?

a. Cellphone owners around the world generate vast amounts of data by calling, texting, tweeting, and browsing

the Web on a daily basis.

b. A local grocery store collects data from those that scan their loyalty card.

c. Five hundred Facebook users upload one thousand pictures per day.

d. A pharmacy keeps track of customer purchases to send its customers coupons.

In order to manage an organization's human resource activities, such as hiring employees, tracking,
and influencing employee retention, HR personnel use

a. descriptive and prescriptive analytics.

b. predictive and prescriptive analytics.

c. descriptive and predictive analytics.

d. predictive analytics.
The decisions concerning an organization's goals and future plans are called

a. tactical decisions.

b. strategic decisions.

c. operational decisions.

d. financial decisions.
Data dashboards are a type of _________ analytics.
 a. prescriptive

b. descriptive

c. predictive

d. decision
Eight observations taken for two variables are as follows:
X: 11, 13,17, 18, 22, 24, 26, 28
Y: 35, 32, 26, 25, 20, 17, 11, 10
Develop a scatter diagram with X on the horizontal axis. What does the scatter diagram developed
indicate about the relationship between the two variables?

a. There appears to be a positive linear relationship between the x and y variables.

b. There appears to be a negative linear relationship between the x and y variables.

c. There appears to be no relationship between the x and y variables.

d. Not enough information.

Which one of the following is used in predictive analytics?

a. Linear regression

b. Data dashboard

c. Optimization model

d. Data visualization