Business Analytics Quiz No. 1

Which types of analytics uses statistical and machine learning techniques?

• Prescriptive

• Predictive

• Descriptive

• Diagnostic

Which type of analytics gain insights from historical data with reporting, scorecards,clustering etc.

• Descriptive

• Predictive

• Prescriptive

• Decisive

Which type of analytics recommends decision using optimization and simulation?

• Descriptive

• Predictive

• Prescriptive

• Diagnostic

It is a type of data that has no quantitative relationship to one another

• ordinal

• nominal

• categorical

• ratio

Temperature readings is an example of a _____________data.

• ordinal

• nominal

• interval

• ratio

Which of the following is an example of ordinal data?

• SAT scores

• survey responses

• temperature readings

• monthly sales

Tactical decisions are the domains of higher level executives and usually span from 3 to 5 years

• True

• False

It is the process of using quantitative methods to derive meaning from data in order to make informed business decisions

(a)  

In business analytics, It is essential to have the right technology infrastructure and tools to handle the data.

• True

• False

It is the process of sorting through large datasets using databases, statistics, and machine learning to identify trends and establish relationships

(a)