Business analytics with management science models and methods Study guides, Class notes & Summaries

Business Understanding/ Discovery phase - Answer An analyst defines the major questions of interest that need to be answered, determines the needs of the stakeholders, and assesses the resource constraints of the project. Define project outcomes. Data Acquisition - Answer Collecting data phase. Data is collected and stored, for easy retrieval from a database, perhaps a component of a data warehouse, by using a language like SQL. Web scraping and surveys to acquire data. Data Cleaning - Ans...

TEST BANK FOR PRACTICAL MANAGEMENT SCIENCE, 6TH EDITION BY L. WINSTON. 1. Models that suggest a desirable course of action are called descriptive models a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy Easy |Bloom's Knowledge Easy |Bloom's Comprehension QUESTION TYPE: True / False HAS VARIABLES: False TOPICS: 1.1 Introduction OTHER: BUSPROG-Communication DISC- Mathematical Modeling DATE CREATED: 5/17/2017 3:39 PM DATE MODIFIED: 10/21/2017 8:35 PM 2. In modeling...

Busi 408 at UNC Chapel Hill's Kenan-Flagler Business School is taught by professor Chip Snively and Melissa Hart. This study guide contains the FULL PACKAGE for everything you need to know, including all class notes, midterm preparation (x2), final exam preparation, and notes from the textbook. It is crucial you do well in this course at it is the prerequisite for most other courses in the Business School, and corporate finance is the basic building block for your future career. Companies and b...

business intelligence (BI) - Answer-the collection, management, analysis, and reporting Business Analytics - Answer-the use of data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their business operations and make better, fact- based decisions. Some common types of decisions that can be enhanced by using analytics include - Answer-• pricing (for example, setting prices for consumer a...

Business Intelligence (BI) - Answer- Referring to tools and techniques for analyzing and visualizing past data Advanced Analytics (Data Science) - Answer- Refers to tools and techniques used to understand why something happened, predict future outcomes, or discover hidden patterns in large data sets Data-Driven Organizations - Answer- Make decisions that can be backed up with verifiable data Measurably more productive and profitable, can better respond to ongoing threats and opportuniti...

Data scientists are able to find ______, _________, and _____ in unstructured data. - Answer order, meaning, and value What is involved in the planning phase? - Answer 1. Defining goals 2. Organizing resources 3. Coordinate people 4. Schedule project What is involved in the wrangling phase? - Answer 5. Get data 6. Clean data 7. Explore data 8. Refine data What is involved in the Modeling phase? - Answer 9. Create model 10. Validate model 11. Evaluate model 12. Refine model W...

1 AIC 300 - CLAIMS IN AN EVOLVING WORLD EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. Correct Answer: B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of...

Statistical Model A statistical model is a class of mathematical model, which embodies a set of assumptions concerning the generation of some sample data, and similar data from a larger population. A statistical model represents, often in considerably idealized form, the data-generating process. The assumptions embodied by a statistical model describe a set of probability distributions, some of which are assumed to adequately approximate the distribution from which a particular data set is s...

CPH Exam 90 Questions with Verified Answers Host, agent and environment - CORRECT ANSWER The epidemiologic triangle (triad) describes the occurrence of disease as an interaction between what three factors? -0.9 An odds ratio of -0.9 most strongly indicates a computational error because an odds ratio is calculated using probabilities, which cannot be negative. An odds ratio is the probability that an event will occur divided by the probability that it will not occur. Since probabilitie...

Data Science - Answer- involves principles, processes, and techniques for understanding phenomena via the (automated) analysis of data; data and the capability to extract useful knowledge from data, should be regarded as key strategic assets Data Driven Decision-Making - Answer- Refers to te practice of basing decisions on the analysis of data, rather than purely intuition Two Types of Decisions - Answer- 1) decisions for which "discoveries need to be made within data and 2) decisions tha...