A correlation of 0 indicates that the two variables have no linear relationship with each
other.
Expected confidence assumes independence between the consequent and the
antecedent.
A chance constraint is one that specifies the fraction of trials in a simulation that must
satisfy a constraint.
Changes to the type of chart, data included in the chart, and chart layout and styles can
be made from the Layout tab.
Two-way data tables can evaluate only one output variable.
As Monte Carlo simulation is essentially statistical sampling, the larger the number of
trials used, the more precise is the result.
A chance constraint is one that specifies the fraction of trials in a simulation that must
satisfy a constraint.
When constructing frequency distributions for numerical data, SUMIF is used to count
the frequencies of each discrete value.
In a database file, which is organized in a two-dimensional table, the rows represent
records of related data elements.
An increase in adjusted R2 indicates that the regression model has improved.
Which of the following functions is a logical function that returns TRUE if any
condition is true and FALSE if not?
A) TO(value if true, value if false)
B) AND(condition 1, condition 2’¦)
C) OR(condition 1, condition 2’¦)
D) IF(condition, value if true, value if false)
In finance, the ________ is the ratio of a fund’s excess returns (annualized total returns
minus Treasury bill returns) to its standard deviation.
A) field ratio
B) Sortino ratio
C) Calmar ratio
D) Sharpe ratio
Logistic regression is different from discriminant analysis in that logistic regression
________.
A) does not predict the weights
B) sets observation into predefined classes
C) does not depend on assumptions
D) depends on assumptions such as normalization of independent variables
Thereflectstheopportunitycosts ofspendingfunds now versus achievingareturn
through another investment, as well as the risks associated with not receiving returns
until a later time.
A) modified internal rate of return
B) payback period
C) accounting rate of return
D) discount rate
Below is the spreadsheet for Memphis Designs fixed cost model:
What is the total cost incurred by the company?
A) $ 8,345.00
B) $ 10,756.80
C) $ 7,289.62
D) $ 9,582.75
isalogicalfunctionthatreturnsonevalueiftheconditionistrueandanotherifthe condition is false
A) OR(condition 1, condition 2’¦)
B) AND(condition 1, condition 2’¦)
C) TO(value if true, value if false)
D) IF(condition, value if true, value if false)
Shirley Templeton is a real estate agent for Paralol Realty. Shirley is given the
responsibility to manage potential customers for 5 of the Realty’s bungalows. These 5
bungalows are situated in close proximity. In order to make traveling easier, Shirley
decides to move to a location closer to the 5 bungalows. The table below gives the
location (X and Y coordinates) of the 5 bungalows along with the number of trips she
would have to make to each bungalow. Create a nonlinear model based on the data
given in the table below noting that the objective is to reduce the weighted distance
between Shirley’s accommodation and the 5 bungalows.
According to the model, what is the distance between Shirley’s new accommodation
and Bungalow 1?
A) 36.53
B) 14.53
C) 98.21
D) 23.12
What should be the value of Integer Tolerance in order to find the guaranteed optimal
integer solution?
A) -1
B) 0
C) 0.5
D) 1
Below is the spreadsheet for a project selection model:
Which of the following cells is set as the objective cell in Solver?
A) $G$12
B) $F$14
C) $G$14
D) $B$12
Following is an extract from the Cost per Order Database of Grogtes LLC.
What is the rank of the 42nd percentile of the costs per order ?
A) 17
B) 13.35
C) 19
D) 33.75
Shirley Templeton is a real estate agent for Paralol Realty. Shirley is given the
responsibility to manage potential customers for 5 of the Realty’s bungalows. These 5
bungalows are situated in close proximity. In order to make traveling easier, Shirley
decides to move to a location closer to the 5 bungalows. The table below gives the
location (X and Y coordinates) of the 5 bungalows along with the number of trips she
would have to make to each bungalow. Create a nonlinear model based on the data
given in the table below noting that the objective is to reduce the weighted distance
between Shirley’s accommodation and the 5 bungalows.
According to the model, what is the distance between Shirley’s new accommodation
and Bungalow 5?
A) 54.62
B) 25.08
C) 14.53
D) 91.16
Use the table below to answer the following question(s) using the standard Solver.
Below is the spreadsheet for a plant location model:
What is the total amount shipped by the Atlanta plant to the distribution centers?
A) 600
B) 1,000
C) 1,250
D) 1,300
Below is a payoff table that lists three mortgage options:
What is the maximum opportunity loss incurred for the 2-year ARM?
A) $ 8,626
B) $ 13,716
C) $ 14,369
D) $ 10,581
Which of the following inputs of a decision model is an example of data?
A) estimated consumer demand
B) inflation rates
C) costs
D) investment allocations
One of the measures of location is calculated as 88. Which of the following measures of
location corresponds to this value?
A) mean
B) mode
C) median
D) midrange
An infeasible problem is one for which ________.
A) the objective is maximized or minimized by more than one combination of decision
variables
B) there is no solution that simultaneously satisfies all the constraints
C) the objective can be increased or decreased to infinity or negative infinity
D) there is exactly one solution that will result in the maximum or minimum objective
Below are four options for an investment decision.
Identify the average utility for the growth fund decision.
A) 1.05
B) 0.70
C) 0.20
D) 0.60
In _____ functions, represented by y = abx, y rises or falls at constantly increasing rates.
A) logarithmic
B) power
C) exponential
D) polynomial
Which of the following formulas calculates the Euclidean distance between X and Y?
A)
B)
C)
D)
Trace the process of copying and pasting a cell, which has a formula in it, such that the
formula is not retained in the pasted cell.
A) Home – Paste – Paste Special – Paste Values
B) Home – Paste – Paste Special – Paste Validation
C) Home – Paste – Paste Special – Paste Formats
D) Home – Paste – Paste Special – Paste Formulas
A ________ is a range of values between which the value of the population parameter is
believed to be, along with a probability that the interval correctly estimates the true
population parameter.
A) point estimate
B) frequentist interference
C) confidence interval
D) fiducial inference
Explain the assumptions underlying ANOVA along with their violations.
Following is an extract from a firm’s database detailing the number of hours spent on
the job by employees and their corresponding pay. (Note: Assume a level of
significance of 0.05 wherever necessary.)
Construct a scatter diagram and use the Excel Trendline tool to find the best-fitting
simple linear regression model.
Why do predictive decision models incorporate uncertainty?
For a two-sample test, explain the procedure used when it is difficult to justify the
assumption that the variances of each population are equal.
Explain the different Lookup functions in Excel.
Brenton joined the Kroos Corporation at a starting salary of $61,500. According to the
company’s retirement plan, Brenton has to make a retirement contribution of 6 percent
of his salary. The company contributes 30 percent of this amount. Brenton is expected
to receive a salary increment of 3.5 percent per year for the next three years. Brenton is
also expected to receive an annual investment return of 8 percent on the plan. Assuming
the same rate of salary increases and investment returns each year, calculate the total
balance of the retirement plan in its second year.
What is a confidence interval in sampling?
Data used in business analytics need to be reliable and valid. Explain.
Which of the following computes the probability of an event P given that event Q is
known to have occurred?
A goal of Korel & Marke, a dot-com company, is to gain strategic advantage over its
rival firms. How can Korel & Marke use analytics and exploit social media to
accomplish this goal?