Which data analytics type focuses on answering the question “How many computer monitors should we prepare for the next year-end sales?”
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q25-
Which data analytics type focuses on answering the question “How many computer monitors should we prepare for the next year-end sales?”
Prescriptive analytics
Predictive analytics
Descriptive analytics
Diagnostic analytics
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Netflix decided to distribute the show "Orange is the New Black". This decision was because the show 'Weeds', performed very well on Netflix in terms of viewership and engagement. Both shows have the same writers/creative teams. Data shows that viewers enjoy shows by the same writers/creative teams. This is an example of Netflix relying upon which type of data analytics Question 4 options: a) Descriptive b) Diagnostic c) Predictive d) PrescriptiveWhich best describes the null hypothesis associated with an Analysis of Variance (ANOVA)? Group of answer choices a. Ho: Variance 1 = Variance 2 = Variance 3 b. Ho: Standard Deviation 1 = Standard Deviation 2 = Standard Deviation 3 c. Ho: Proportion 1 = Proportion 2 = Proportion 3 d. Ho: Median 1 = Median 2 = Median 3 e. Ho: Mean 1 = Mean 2 = Mean 3
- Under what circumstances would the Mood's Median non-parametric test be applied in business research? Group of answer choices a. The data are not normally distributed b. Outliers in the data exist c. Multiple medians are to be compared d. Answers 1 and 2 only e. Answers 1, 2 and 3Assume that Young Corporation is introducing a new heartburn relief medication as an over the counter treatment. Young's marketing team used data to determine how to meet the minimum sales goals. The team determined that switching to an online marketing plan would be the best to maximize sales. This is an example of using Question 8 options: a) descriptive analytics b) diagnostic analytics c) predictive analytics d) prescriptive analyticsWhich business research approach analyzes continuous data when the data are non-normal? Group of answer choices a. Binary Logistic Regression b. Non-parametric Tests c. ANOVA d. Regression e. Chi-square Contingency Tables
- Which of the following methods lends itself to forecasts for long-term emerging phenomena or revolutionary technologies? A. the sales force estimate technique B. the delphi method C. the jury of executive opinion method D. market testingK Display the data to the right in a Pareto chart. Describe the difference in how the pie chart and the Pareto chart show patterns in the data. www. Choose the correct bar graph below. OA. Favorte Season hu B. Favorite Season 50₂ C. (b) Describe the difference in how the pie chart and the Pareto chart show patterns in the data. Choose the comect answer below OA. The pie chart shows the individual responses. The Pareto chart shows the distribution of the seasons. B. The pie chart shows the percentages as parts of the whole. The Pareto chart shows the rankings of the seasons Favorite Season OD. Summer 37 Fall 22% Spring 24% Winter 17% Favorite SeasonBusiness analytics concepts a) Data used in business analytics need to be reliable and valid. Explain your opinion on the statement and provide practical examples to support your answer. b) What are the similarities and differences between correlation analysis and regression analysis? c) What types of measurements can be used to measure the central tendency of the data? Please compare the advantages and disadvantages between these measurements.
- Which test is best to test the hypothesis that multiple variances (2 or more) are equal? Group of answer choices 1. t test 2. proportions test 3. Mood's median test 4. Levene's test 5. Analysis of Variance (ANOVA)Which business research analysis assesses relationships between continuous data outputs and discrete data inputs? 1. Logistic Regression 2. Regression 3. ANOVA 4. Chi-Square Contingency Table 5. None of the aboveQ1.What is the difference between the types of data 1- categorical data, 2- numerical data, with an example of each type