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BU6015 - Business Analytics

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The difficulty a person faces in understanding a problem and making a decision as a consequence of having too much data.

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A new business, CoolIT, sells items to keep you cool when outside. Its products include coolers, generators, floats, and other water accessories designed to beat the heat. CoolIT has been spending money on innovative advertising in hopes of increasing its sales revenue. Below is a scatterplot showing advertising expense and sales revenue for the last 36 months. Based on the chart, what type of correlation do advertising expense and sales revenue have?

A scatter plot shows the advertising expense on the x axis and the sales revenue on the vertical axis. The x axis ranges from $5,600 to $6,200 in increments of $100. The y axis ranges from $0 to $180,000 in increments of $20,000. The data points are concentrated between ($5,700, $90,000) and ($6,150, $170,000) showing a positive correlation between the x and y axes.

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Descriptive analytics are analytics that characterize, summarize, and organize features and properties of the data to facilitate understanding.

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Ratio data has an absolute zero.

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The best visualization type to show the relative proportion of Tesla’s domestic sales to China, to Europe and to the United States would be which of the following?

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Data with greater veracity is often more impactful, carrying more weight in analysis than data with lesser veracity in addressing business questions.

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Data is defined as information organized in a meaningful way to be useful to the user.

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The process of changing the values in various input cells to see how they might affect the output is called foregone costs.

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Descriptive Analytics emphasizes “Why something happened?”.

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According to Benford’s law, what is the expectation for the percentage of times that the first digit of a number is the number “1”?

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