Final Exam 2024 PDF

Exam 2024 (Final) Question1: MCQ 1) Which of the following is a key element in most DSS and a necessity in a model-based DSS? A) Database B) Analytical model C) Modeling D) Business intelligence 2) By definition, a DSS must include which of the following component...

Exam 2024 (Final) Question1: MCQ 1) Which of the following is a key element in most DSS and a necessity in a model-based DSS? A) Database B) Analytical model C) Modeling D) Business intelligence 2) By definition, a DSS must include which of the following component A) business intelligence B) expert system C) animation system D) user interface 3) A(n) ________________ is a collection of interrelated data, organized to meet the needs and structure of an organization that can be used by more than one person for more than one application A) business intelligence B) expert system C) database D) data repository 4) All of the following are factors that propel the trend of big data except. A) New sources of data B) Cost of storing and retaining big data C) Growth in computing power D) Infrastructure for knowledge creation 5) Which of the following is not a characteristic of Big Data? A) High-velocity data flows B) Verified data flows C) A wide variety of data D) Large volumes of data 6) Which of the following is NOT a technique used by Big Data Analytics? A) Distributed storage B) Parallel Processing C) Tiered Storage D) Networking 7) What is data warehouse? A) A centralized information repository that gathers data from many sources B) None of the other answers C) The thirst to gather more and more information D) The area of science and technology that deals with information sets that are too large to be handled by traditional means 8) Which of the following is an important characteristic of big data to be considered when selecting storage options? A) Scalability B) There are no important characteristics C) Hardware brand D) What is on sale 9) Which big data storage technology has minimal features and focuses on providing as much storage space as possible while keeping costs as low as possible? A) Object storage B) Big data isn't stored C) Hyperscale Storage D) Network Attached Storage (NAS) 10) The concept of Big Data helps in A) The recycling of information B) Figuring out what pile to put paper in for the trash C) Gathering low amounts of data in large piles D) Gathering large data and analyzing it 11) What is big data? A) Data with high accuracy and quality B) Extremely large datasets beyond traditional data processing capabilities C) Data that is easily manageable by spreadsheets D) Structured data only 12) What is the main characteristic of big data known as "Velocity"? A) The ability to handle diverse data types B) The massive volume of data generated C) The speed at which data is generated and processed D) The ability to store data efficiently 13) Which type of data falls under the category of "unstructured data"? A) Relational databases B) Spreadsheets C) Emails, social media posts, and images D) Sensor data 14) The 3Vs of big data refer to: A) Variety, Velocity, and Volume B) Volume, Velocity, and Value C) Value, Velocity, and Veracity D) Variety, Value, and Veracity 15) What is the primary challenge associated with big data processing? A) Low data volume B) Real-time processing C) Limited data variety D) High data accuracy 16) Which of the 3Vs of big data refers to the variety of data types it encompasses? A) Velocity B) Volume C) Value D) Variety 17) Which type of data is NOT considered part of big data? A) Relational databases B) Sensor data from IoT devices C) Social media posts D) Video streams from surveillance cameras Question 2: True or false 1. When faced with a turbulent business environment, organizations are best able to survive or even excel by minimizing changes until the environment stabilizes. 2. One measure of productivity is the ratio of inputs to outputs. 3. Because managerial decision making is complex, it is more important to emphasize methodical, analytical decision making rather than interpersonal communication skills. 4. Government regulations, political instability, competition, and changing consumer demands cause uncertainty that makes it difficult to predict the consequences of a decision. 5. The first phase in the decision-making process is design which involves inventing, developing, and analyzing possible alternative courses of action or solutions. 6. There can only be one database used in one DSS application. 7. A DSS database can include multimedia objects, e.g., pictures and sounds. 8. A DSS can be composed of several models, some standard and some custom built, used collectively to support strategic decisions in the company. 9. Because DSS deal with semistructured or unstructured problems, it is often necessary to customize models, using programming tools and languages. 10. When trying to solve a problem, developers at the manufacturer HP consider the three phases in developing a model. Their first phase is problem analytics. 11. If a problem arises due to misalignment of incentives or unclear lines of authority or plans, then no model can help solve that root problem. 12. Problem specification is the conceptualization of a problem in an attempt to place it in a definable category, possibly leading to a standard solution approach. 13. One approach to solving a complex problem is to divide it into simpler subproblems and then solve those subproblems. 14. The process of modeling involves determining the (usually mathematical, sometimes symbolic) relationships among the variables. 15."Humans are economic beings whose objective is to maximize the attainment of goals" is one of the assumptions of rational decision makers. 16. The idea of "thinking with your gut" is a heuristic approach to decision making. 17. All decisions that result in a favorable outcome are considered to be good decisions. 18. The difference in decision making under risk and decision making under uncertainty is that under risk, we think we know the probabilities of the states of nature, while under uncertainty we do not know the probabilities of the states of nature. 19. To determine the effect of input changes on decision results, we should perform a sensitivity analysis. 20. The maximax decision criterion is used by pessimistic decision makers and maximizes the maximum outcome for every alternative. 21. The maximin decision criterion is used by pessimistic decision makers and minimizes the maximum outcome for every alternative. 22. Optimistic decision makers tend to discount favorable outcomes. 23. The several criteria (maximax, maximin, equally likely, criterion of realism, minimax regret) used for decision making under uncertainty may lead to the choice of different alternatives. 24. A decision table is sometimes called a payout table. 25. In a decision table, all of the alternatives are listed down the left side of the table, while all of the possible outcomes or states of nature are listed across the top. 26. The criterion of realism is also called the Laplace criterion. 27. The equally likely decision criterion is also called the Laplace criterion. 28. The manner in which the components of a DSS are assembled defines the major capabilities and the nature of the support this DSS provides. 29. Business intelligence is typically built to support the solution of a certain problem or to evaluate an opportunity.  30. An effective database and its management can support many managerial activities; however, the real power of a DSS occurs when data are integrated with its models. 31. A key issue in data management is that of data quality. Poor quality data, which leads to poor quality information, leads directly to waste. 32. Globalization has significantly reduced the complexity of the business environment. For example, companies can find suppliers and customers in many countries where materials are cheaper, which reduces competition and complexity. 33. Managers, especially those at high managerial levels, are primarily hands-on problem solvers. 34. One of the major objectives of computerized decision support is to minimize the gap between the current performance of an organization and its desired performance. 35. A BI system has three major components: a data warehouse with source data; business performance management (BPM) for monitoring and analyzing performance; and a user interface such as a dashboard. 36. The objective of computerized decision support, regardless of its name or nature, is to help managers solve problems and assess opportunities faster and better than would be possible without computers. 37. Dashboards and information portals are considered as data manipulation tools. 38. Rationality is bounded only by limitations on human processing capacities but not by individual differences. 39. A problem exists in an organization only if someone or some group takes on the responsibility of attacking it and if the organization has the ability to solve it. 40. According to Simon, managerial decision making is synonymous with managers using decision support systems. 41. Variety means Clickstreams and ad impressions capture user behavior at millions of events per second. 42. Smarter healthcare and manufacturing considered as applications of Big Data analytics. 43. Expected value of perfect information is not a part of decision tree problem specification.