10/27/23, 6:29 PM TEST TWO: Attempt review

Dashboard My courses BUS327B_2023.... ASSESSMENTS TEST TWO

Started on Friday, 27 October 2023, 6:20 PM

State Finished
Completed on Friday, 27 October 2023, 6:43 PM
Time taken 23 mins 30 secs
Marks 27.00/30.00
Grade 9.00 out of 10.00 (90%)

Question 1

Correct

Mark 1.00 out of 1.00

Which of the following inputs of a decision model is an example of data?

a. costs

b. None

c. inflation rates

d. investment allocations

e. estimated consumer demand

Your answer is correct.

The correct answer is:

costs

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 2

Correct

Mark 1.00 out of 1.00

Which of the following is an example of a measure of continuous metrics?

a. None

b. four errors revealed in an invoice

c. a delivery delayed by seven days

d. three incomplete orders on a day

e. weight and volume of a sheet of steel

Your answer is correct.

The correct answer is:

weight and volume of a sheet of steel

Question 3

Correct

Mark 1.00 out of 1.00

Which of the following is the mathematical model for deriving total cost of only
outsourcing?

a. TC = F + (C x Q)

b. TC = (VC + F) x Q

c. none

d. TC = (V + C) x Q

e. TC = Q x C

Your answer is correct.

The correct answer is:

TC = Q x C

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 4

Correct

Mark 1.00 out of 1.00

Which decision model incorporates the process of optimization?

a. none

b. prescriptive

c. normative

d. descriptive

e. predictive

Your answer is correct.

The correct answer is:

prescriptive

Question 5

Correct

Mark 1.00 out of 1.00

If D is demand, P is the unit price, and c and d are constants (where d > 0 is the price
elasticity), which of the following is a nonlinear demand prediction model?

a. none

b. D = d + (c × P )

c. D = cd × P

d. D = cP −d 

e. D = (d × P )c

Your answer is correct.

The correct answer is:

D = cP −d

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 6

Correct

Mark 1.00 out of 1.00

Identify the uncontrollable variable from the following inputs of a decision model.

a. machine capacities

b. staffing levels

c. none

d. intercity distances

e. investment returns

Your answer is correct.

The correct answer is:

investment returns

Question 7

Incorrect

Mark 0.00 out of 1.00

In a database, information is stored and maintained in ________.

a. attributes

b. None

c. measurements

d. fields 

e. entities

Your answer is incorrect.

The correct answer is:

entities

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 8

Correct

Mark 1.00 out of 1.00

Descriptive analytics:

a. can use mathematical techniques with optimization to make decisions that take into account
the uncertainty in the data.

b. helps detect hidden patterns in large quantities of data to group data into sets to predict

behavior.

c. None

d.
can predict risk and find relationships in data not readily apparent with traditional analyses.

e. helps companies classify their customers into segments to develop specific marketing
campaigns.

Your answer is correct.

The correct answer is:

helps companies classify their customers into segments to develop specific marketing
campaigns.

Question 9

Correct

Mark 1.00 out of 1.00

Which of the following is the mathematical model for deriving total cost of only
manufacturing?

a. TC = F + C

b. TC = VC + (C × Q)

c. none

d. TC = F + (C × Q)

e. TC = F + (V × Q)

Your answer is correct.

The correct answer is:

TC = F + (V × Q)

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 10

Correct

Mark 1.00 out of 1.00

Middle managers in operations:

a. determine product mix.

b. develop advertising plans.

c. make pricing decisions.

d. develop staffing plans.

e. none

Your answer is correct.

The correct answer is:

develop staffing plans.

Question 11

Correct

Mark 1.00 out of 1.00

Which of the following symbols is used to represent exponents in Excel?

a. *

b. #

c. ^

d. !

e. none

Your answer is correct.

The correct answer is:

^

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 12

Incorrect

Mark 0.00 out of 1.00

Using a $ sign before a column label ________.

a. allows both the row and column references to change

b. keeps the reference to both the row and column fixed

c. keeps the reference to the row fixed, but allows the column reference to change 

d. keeps the reference to column fixed, but allows the row reference to change

e. none

Your answer is incorrect.

The correct answer is:

keeps the reference to column fixed, but allows the row reference to change

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 13

Correct

Mark 1.00 out of 1.00

If, in the spreadsheet, cells B9 and B10 were empty, which of the following formulas should be entered in B8 so that
the formula can be dragged to B9 and B10 to obtain their correct values?

a. none

b. $B$4-$B$5*$A8

c. B4-B5*A8

d. B4-B5*$A8

e. $B4-B5*$A8

Your answer is correct.

The correct answer is:

$B$4-$B$5*$A8

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 14

Correct

Mark 1.00 out of 1.00

If cell G7 contains the function ________, it states that if the value in cell C3 is 9, the number 7 will be assigned
to cell G7; if the value in cell C3 is not 9, the number 4 will be
assigned to cell G7.

a. =IF(G7=9)(G7=7)=OR(G7=4)

b. =IF(G7=7)=THEN(C3=9)=OR(C3=4)

c. none

d. =IF(C3=9,7,4)

e. =IF(C3=9)(C3=7)=OR(C3=4)

Your answer is correct.

The correct answer is:

=IF(C3=9,7,4)

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 15

Correct

Mark 1.00 out of 1.00

Given that D = a-bP, where D, is demand, "a" and "b," are linear constants, and P, is price, from the below
spreadsheet, how will the formula in B9 be represented in Excel using relative addressing?

a. none

b. C5-C6*A10

c. B5-B6*A10

d. B4-B5*A10

e. B4-B5*A9

Your answer is correct.

The correct answer is:

B4-B5*A9

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 16

Correct

Mark 1.00 out of 1.00

Peige, a stock broker, has data consisting of price, price/earnings ratio, and market capitalization for seven
different stocks on one particular day. She wishes to plot these three variables in two dimensions. Which of the
following charts must Peige use?

a. Stock chart

b. Bubble chart

c. Surface chart

d. none

e. Line chart

Your answer is correct.

The correct answer is:

Bubble chart

Question 17

Correct

Mark 1.00 out of 1.00

Which of the following charts shows three-dimensional data?

a. none

b. Column chart

c. Surface chart

d. Doughnut chart

e. Stock chart

Your answer is correct.

The correct answer is:

Surface chart

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 18

Correct

Mark 1.00 out of 1.00

Which of the following charts provides a useful means for displaying data over time?

a. Pie chart

b. Scatter chart

c. none

d. Line chart

e. A doughnut chart

Your answer is correct.

The correct answer is:

Line chart

Question 19

Correct

Mark 1.00 out of 1.00

Observations consisting of pairs of variable data are required to construct a ________ chart.

a. radar

b. scatter

c. doughnut

d. line

e. none

Your answer is correct.

The correct answer is:

scatter

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 20

Correct

Mark 1.00 out of 1.00

Which of the following relies on sorting data and calculating the cumulative percentage of the characteristic of
interest?

a. Anscombe's quartet

b. Randolph diagram

c. Bland-Altman plot

d. none

e. Pareto analysis

Your answer is correct.

The correct answer is:
Pareto analysis

Question 21

Incorrect

Mark 0.00 out of 1.00

Calculate the median for the cost per order data.

a. none

b. $88

c. $154

d. $325

e. $174.17 

Your answer is incorrect.

The correct answer is:

$154

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 22

Correct

Mark 1.00 out of 1.00

The difference between the first and third quartiles is referred to as the ________.

a. standard deviation

b. midrange

c. variance

d. none

e. interquartile range

Your answer is correct.

The correct answer is:

interquartile range

Question 23

Correct

Mark 1.00 out of 1.00

Which of the following is the equation for calculating the coefficient of variation (CV)?

a. CV = standard deviation - z-score/mean (total variation)

b. CV = value of observation's distance from mean/standard deviation

c. CV = standard deviation/mean

d.
CV = mean/(standard deviation)

e. none

Your answer is correct.

The correct answer is:

CV = standard deviation/mean

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 24

Correct

Mark 1.00 out of 1.00

Using Chebyshev's theorem for standard deviation, calculate the percentage of data that lie within five standard
deviations of the mean.

a. 50%

b. 96%

c. 89%

d. 75%

e. none

Your answer is correct.

The correct answer is:
96%

Question 25

Correct

Mark 1.00 out of 1.00

The ________ is a formal statistical measure for categorical data, such as defects or errors in
quality control applications or consumer preferences in market research.

a. skewness

b. proportion

c. mean

d. variance

e. none

Your answer is correct.

The correct answer is:

proportion

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 26

Correct

Mark 1.00 out of 1.00

For two variables, a positive correlation coefficient indicates ________.

a. a nonlinear relationship with no linear correlation between the two variables

b. that the two variables have no linear relationship with each other

c. a linear relationship exists for one variable that increases while the other decreases

d. a linear relationship exists for which one variable increases as the other also increases

e. none

Your answer is correct.

The correct answer is:

a linear relationship exists for which one variable increases as the other also increases

Question 27

Correct

Mark 1.00 out of 1.00

________ is a measure of the linear relationship between two variables, X and Y, which does not depend on the
units of measurement.

a. Kurtosis
b. Proportion
c. Correlation

d. Skewness
e. none

Your answer is correct.

The correct answer is:

Correlation

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 28

Correct

Mark 1.00 out of 1.00

Which of the following is true of the coefficient of skewness (CS)?

a. If the CS is positive, the distribution of values tails off to the left.

b. If the CS is closer to zero, the degree of skewness is considered to be high.

c. If the CS value is between -0.5 and -1, the skewness is considered negligible.

d. none

e. If the CS value is between 0.5 and 1, the skewness is considered to be moderate.

Your answer is correct.

The correct answer is:

If the CS value is between 0.5 and 1, the skewness is considered to be moderate.

Question 29

Correct

Mark 1.00 out of 1.00

Which of the following is an example of a subset?

a. none

b. The number of individuals who have a Ford car

c. The number of IT employees out of all employees working in an office of Google

d. The number of members in the Democratic Party

e. The population of Canada

Your answer is correct.

The correct answer is:

The number of IT employees out of all employees working in an office of Google

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10/27/23, 6:29 PM TEST TWO: Attempt review

Question 30

Correct

Mark 1.00 out of 1.00

Which of the following is a similarity between a midrange and a mean?

a. none

b. Both measures divide the data into two equal halves.

c. Both measures are calculated using all the values in a data set.

d. Both measures are affected by outliers.

e. Both measures can only be used for small sample sizes.

Your answer is correct.

The correct answer is:

Both measures are affected by outliers.

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