Question 1

-Referring to the bar chart in the figure above, a bar chart uses rectangular bars to display data values.The statement below that is true is: ____.

Accepted Answer

A)   A longer bar means a greater value
B)   A smaller bar means a greater value
C)   The size of the bar does not correspond to the value
D)   None of the above A

Question 2

MODIFIED TRUE/FALSE
-You can model your decisions quantitatively, which means you represent the decision and its factors using letters._________________________

Accepted Answer

A) True 
 B)False  False

Question 3

MODIFIED TRUE/FALSE
-A decision tree is a support tool that models decisions using a treelike diagram._________________________

Accepted Answer

A) True 
 B)False  True

Question 4

A ____________________ (DSS) is interactive software designed to help you compile useful information from raw data, documents, and business knowledge.

Accepted Answer

The answer of A ____________________ (DSS) is interactive software designed...

Question 5

Data sets cannot have more than one mode.

Accepted Answer

A) True 
 B)False

Question 6

The ____ is calculated by ordering all of your data from lowest value to highest value and selecting the middle one.

Accepted Answer

A)   median
B)   arithmetic mean
C)   mode
D)   standard deviation

Question 7

To make numeric data useful, organize it in a(n) ____________________, which is one or more formulas that includes all of the relevant variables and calculates a result.

Accepted Answer

The answer of To make numeric data useful, organize it...

Question 8

Early DSSs were small, proprietary, and inexpensive.

Accepted Answer

A) True 
 B)False

Question 9

A(n) ____ typically defines a calculation that you perform on one or more variables.

Accepted Answer

A)   formula
B)   property
C)   behavior
D)   arithmetic mean

Question 10

On a decision tree, triangles indicate that a choice must be made.

Accepted Answer

A) True 
 B)False

Question 11

The ____________________ value of a set of data is usually referred to as the average.

Accepted Answer

The answer of The ____________________ value of a set of...

Question 12

Bar charts with vertical bars are called line charts.

Accepted Answer

A) True 
 B)False

Question 13

-The diagram shown above shows a survey that uses a five-point scale.However, a three-point or four-point scale is equally effective.

Accepted Answer

A) True 
 B)False

Question 14

Argument values are always contained inside parentheses.

Accepted Answer

A) True 
 B)False

Question 15

When you are making a decision, a DSS helps you evaluate all parts of the decision objectively.

Accepted Answer

A) True 
 B)False

Question 16

Decision trees are made up of three primary elements: Uncertainties, Decisions, and Results.For each decision tree elements please indicate the shape that represents that element and a description of how that element is used in creating values for each option.

Accepted Answer

The answer of Decision trees are made up of three...

Question 17

When you solve a problem ____, you react immediately and instinctively, without following a particular procedure.

Accepted Answer

A)   intuitively
B)   systematically
C)   both a. and b.
D)   neither a. nor b.

Question 18

Sometimes called a sensitivity analysis, a what-if analysis allows you to study how changing one or more values affects the results.Please briefly describe the following terms related to performing a what-if analysis: decision variables, constants, and output variables.

Accepted Answer

The answer of Sometimes called a sensitivity analysis, a what-if...

Question 19

MODIFIED TRUE/FALSE
-Assumptions are the values or cell references that the function uses in its calculations._________________________

Accepted Answer

A) True 
 B)False

Question 20

MODIFIED TRUE/FALSE
-When electronic spreadsheets were first developed, one of the early applications for the technology was performing what-else analyses._________________________

Accepted Answer

A) True 
 B)False

Exam 5: Decision Support Tools

-Referring to the bar chart in the figure above, a bar chart uses rectangular bars to display data values.The statement below that is true is: ____.

MODIFIED TRUE/FALSE -You can model your decisions quantitatively, which means you represent the decision and its factors using letters._________________________

MODIFIED TRUE/FALSE -A decision tree is a support tool that models decisions using a treelike diagram._________________________

A ____________________ (DSS) is interactive software designed to help you compile useful information from raw data, documents, and business knowledge.

Data sets cannot have more than one mode.

The ____ is calculated by ordering all of your data from lowest value to highest value and selecting the middle one.

To make numeric data useful, organize it in a(n) ____________________, which is one or more formulas that includes all of the relevant variables and calculates a result.

Early DSSs were small, proprietary, and inexpensive.

A(n) ____ typically defines a calculation that you perform on one or more variables.

On a decision tree, triangles indicate that a choice must be made.

The ____________________ value of a set of data is usually referred to as the average.

Bar charts with vertical bars are called line charts.

-The diagram shown above shows a survey that uses a five-point scale.However, a three-point or four-point scale is equally effective.

Argument values are always contained inside parentheses.

When you are making a decision, a DSS helps you evaluate all parts of the decision objectively.

Decision trees are made up of three primary elements: Uncertainties, Decisions, and Results.For each decision tree elements please indicate the shape that represents that element and a description of how that element is used in creating values for each option.

When you solve a problem ____, you react immediately and instinctively, without following a particular procedure.

Sometimes called a sensitivity analysis, a what-if analysis allows you to study how changing one or more values affects the results.Please briefly describe the following terms related to performing a what-if analysis: decision variables, constants, and output variables.

MODIFIED TRUE/FALSE -Assumptions are the values or cell references that the function uses in its calculations._________________________

MODIFIED TRUE/FALSE -When electronic spreadsheets were first developed, one of the early applications for the technology was performing what-else analyses._________________________