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Exam 17: Business Analytics

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Exam 1: Defining and Collecting Data204 Questionsadd course
Exam 2: Organizing and Visualizing Variables185 Questionsadd course
Exam 3: Numerical Descriptive Measures167 Questionsadd course
Exam 4: Basic Probability163 Questionsadd course
Exam 5: Discrete Probability Distributions216 Questionsadd course
Exam 6: The Normal Distribution and Other Continuous Distributions187 Questionsadd course
Exam 7: Sampling Distributions129 Questionsadd course
Exam 8: Confidence Interval Estimation189 Questionsadd course
Exam 9: Fundamentals of Hypothesis Testing: One-Sample Tests185 Questionsadd course
Exam 10: Two-Sample Tests212 Questionsadd course
Exam 11: Analysis of Variance210 Questionsadd course
Exam 12: Chi-Square and Nonparametric Tests175 Questionsadd course
Exam 13: Simple Linear Regression210 Questionsadd course
Exam 14: Introduction to Multiple Regression256 Questionsadd course
Exam 15: Multiple Regression Model Building67 Questionsadd course
Exam 16: Time-Series Forecasting168 Questionsadd course
Exam 17: Business Analytics113 Questionsadd course
Exam 18: A Roadmap for Analyzing Data325 Questionsadd course
Exam 19: Statistical Applications in Quality Management158 Questionsadd course
Exam 20: Decision Making123 Questionsadd course
Exam 21: Getting Started: Important Things to Learn First35 Questionsadd course
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Being able to monitor business activities in near real time is a feature most associated with:

(Multiple Choice)
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Question 61

SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No")into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No")using the data set of 100 customers collected from a survey. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,what percentage of the variation in whether a customer will switch into its bundled program offering can be explained by the price and whether the customer spends more than 5 hours a day watching TV? SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,what percentage of the variation in whether a customer will switch into its bundled program offering can be explained by the price and whether the customer spends more than 5 hours a day watching TV? -Referring to Scenario 17-3,what percentage of the variation in whether a customer will switch into its bundled program offering can be explained by the price and whether the customer spends more than 5 hours a day watching TV?

(Short Answer)
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Question 62

SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No")into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No")using the data set of 100 customers collected from a survey. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of higher than $40. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of higher than $40. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of higher than $40.

(True/False)
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Question 63

Some business analytics involve starting with many variables,followed by filtering the data by exploring specific combinations of categorical values or numerical range.In Excel,this approach is mimicked by using gauges.

(True/False)
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Question 64

SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $55 thousand spent on TV advertisement and at least 25 advertisement appearances a day. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $55 thousand spent on TV advertisement and at least 25 advertisement appearances a day.

(True/False)
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Question 65

Classification tree is not sensitive to the distribution of the independent variables.

(True/False)
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Question 66

SCENARIO 17-2 The treemap below shows the amounts (size)measured in billions of US dollars and percentage changes from prior year (color)of business-to-consumer ecommerce sales last year for North America,Asia Pacific,Western Europe,Central & Eastern Europe,Latin America,and Middle East & Africa. SCENARIO 17-2 The treemap below shows the amounts (size)measured in billions of US dollars and percentage changes from prior year (color)of business-to-consumer ecommerce sales last year for North America,Asia Pacific,Western Europe,Central & Eastern Europe,Latin America,and Middle East & Africa. -Referring to Scenario 17-2,the Middle East & Africa region has the slowest growth in business-to-consumer ecommerce sales last year. -Referring to Scenario 17-2,the Middle East & Africa region has the slowest growth in business-to-consumer ecommerce sales last year.

(True/False)
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Question 67

In multidimensional scaling,the larger the stress statistic,the better is the fit.

(True/False)
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Question 68

SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No")into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No")using the data set of 100 customers collected from a survey. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of between $30 and $40. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of between $30 and $40. -Referring to Scenario 17-3,the highest probability of switching is predicted to occur among customers who watch more than 5 hours of TV a day and are offered the bundled price of between $30 and $40.

(True/False)
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Question 69

Complete linkage can be used to measure the distance between objects in cluster analysis.

(True/False)
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Question 70

Which of the following is NOT among the predictive analytics methods covered in the book?

(Multiple Choice)
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Question 71

Which of the following is not true concerning overfitting?

(Multiple Choice)
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Question 72

SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $55 thousands spent on TV advertisement and 35 advertisement appearances a day. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $55 thousands spent on TV advertisement and 35 advertisement appearances a day.

(True/False)
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Question 73

SCENARIO 17-2 The treemap below shows the amounts (size)measured in billions of US dollars and percentage changes from prior year (color)of business-to-consumer ecommerce sales last year for North America,Asia Pacific,Western Europe,Central & Eastern Europe,Latin America,and Middle East & Africa. SCENARIO 17-2 The treemap below shows the amounts (size)measured in billions of US dollars and percentage changes from prior year (color)of business-to-consumer ecommerce sales last year for North America,Asia Pacific,Western Europe,Central & Eastern Europe,Latin America,and Middle East & Africa. -Referring to Scenario 17-2,which region has the fastest growth in business-to-consumer ecommerce sales last year? -Referring to Scenario 17-2,which region has the fastest growth in business-to-consumer ecommerce sales last year?

(Short Answer)
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Question 74

SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with less than $45 thousand spent on TV advertisement and fewer than 25 advertisement appearances a day. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with less than $45 thousand spent on TV advertisement and fewer than 25 advertisement appearances a day.

(True/False)
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Question 75

Which of the following is NOT one of the categories of predictive analytics methods?

(Multiple Choice)
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Question 76

Some consider gauges little more than examples of chartjunk,even as many decision makers request them due to their visual appeal,due to the amount of the space it consumes.

(True/False)
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Question 77

SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. SCENARIO 17-4 The regression tree below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60,$65 or $70 thousand)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $30 thousand spent on TV advertisement and 30 advertisement appearances a day. -Referring to Scenario 17-4,the highest mean weekend box office revenue is predicted to occur with $30 thousand spent on TV advertisement and 30 advertisement appearances a day.

(True/False)
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Question 78

SCENARIO 17-6 The neural network output below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60 $65 or $70 thousands)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. SCENARIO 17-6 The neural network output below was obtained for predicting the weekend box office revenue of a newly released movie (in thousands of dollars)based on data collected in different cities on the expenditure (at $25,$30,$35,$40,$45,$50,$55,$60 $65 or $70 thousands)spent on TV advertising and the number of times (10,15,20,25,30 or 35)a day the advertisement appear on TV. -Referring to Scenario 17-6,what is the r-square of model for the training data? -Referring to Scenario 17-6,what is the r-square of model for the training data?

(Short Answer)
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Question 79

SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch ("Yes" or "No")into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV ("Yes" or "No")using the data set of 100 customers collected from a survey. SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,what is the lowest rate of switching into the bundled offering? SCENARIO 17-3 The tree diagram below shows the results of the classification tree model that has been constructed to predict the probability of a cable company's customers who will switch (Yes or No)into its bundled program offering based on the price ($30,$40,$50,$60)and whether the customer spends more than 5 hours a day watching TV (Yes or No)using the data set of 100 customers collected from a survey. -Referring to Scenario 17-3,what is the lowest rate of switching into the bundled offering? -Referring to Scenario 17-3,what is the lowest rate of switching into the bundled offering?

(Short Answer)
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