test 3 Flashcards
Competitive strategy determines all of the following except
________.
A) structure of the information system
B) goals and objectives
C) features
D) functions
E) the company’s PE ratio
E. the company’s PE ratio
Porter’s five forces model is used to assess ________.
A) industry structure
B) market share
C) internal competition
D) life cycles of products
E) future product demand
A. industry structure
A mining company develops a new processing technique using only light, 3-D
printed drills and patents the process. This situation is characterized by ________.
A) low threat of substitutions
B) high bargaining power of customers
C) high threat of new entrants
D) low bargaining power of suppliers
E) low threat of new entrants
A. low threat of substitutions
Focused cost leadership is observed when a product has the lowest cost
________.
A) within an industry segment
B) across the product mix offered by a company
C) across the entire industry
D) among a group of competitors
E) across multiple product categories
A. within an industry segment
A retail company sells agricultural produce and consumer products. The
company procures materials from farmers and local producers. This process is an
example of ________.
A) outbound logistics
B) inbound logistics
C) operational management
D) internal marketing
E) customer service
B. inbound logistics
A(n) ________ is a network of activities that generate worth by transforming
inputs into outputs.
A) business process
B) competitive strategy
C) value chain
D) information system
E) linked investment
A. business proess
The cost of the business process is the sum of the cost of the inputs and the
________.
A) cost of the activities
B) cost of the outputs
C) value of the outputs
D) value of the products
E) cost of the products
A. cost of the activities
RAC Associates is a car rental company that rents cars to tourists in the
United States. The company uses tracking devices and magnetic locks to prevent car theft.
These procedures are examples of ________.
A) primary business processes
B) core activities
C) strategic activities
D) supporting business processes
E) premeditated activities
E. Premeditated activities
Streamtech, a manufacturer of automobiles, recently received a patent for an
unmanned search boat. By doing this, Streamtech has ________.
A) created an entry barrier
B) introduced product differentiation
C) locked in its suppliers
D) reduced the cost of operations
E) established an alliance
B. introduced product differentiation
________ is a concept that computer systems will become sophisticated enough that
they can adapt and create their own software and hence adapt their behavior without
human assistance.
A) Expert systems
B) Artificial Intelligence
C) Knowledge management
D) Business intelligence systems
E) Moore’s Law
B. artifical inteligence
________ is the extraction of knowledge from data based on algorithms created from
training data.
A) Machine learning
B) Historical analysis
C) Simulation
D) Computer analysis
E) Processing data
A. Machine Learning
How do machines learn?
A) By humans teaching them things
B) Through experience
C) By listening to the surroundings
D) With repetition of the same facts
E) By listening for a wake word
B. Through Experience
Machine learning is focused on predicting accurate outcomes based on ________ data.
A) previously known training
B) current
C) future
D) questionable
E) a complete set of
A. perviously known training
A sales report that is current at the time the user accessed it on a Web server is an example of
a(n) ________.
A) static report
B) dynamic or exception report
C) expert system
D) hybrid market report
E) temporal report
B. dynamic or exeption report
Differentiate between unsupervised and supervised data mining.
Data mining techniques fall into two broad categories: unsupervised and supervised.
With unsupervised data mining, analysts do not create a model or hypothesis before running
the analysis. Instead, they apply a data mining application to the data and observe the results.
With this method, analysts create hypotheses after the analysis, in order to explain the patterns
found. With supervised data mining, data miners develop a model prior to the analysis and
apply statistical techniques to data to estimate parameters of the model.
Which of the following is an example of a supervised data mining technique?
A) cluster analysis
B) market-basket analysis
C) regression analysis
D) click streaming
E) metadata matching
C. regression analysis
Samuel, a researcher, deduces that single women between the ages of 25 and 30, who
usually live in the suburbs and make thrifty purchases, prefer a particular brand of washing
machines. In this case, Samuel uses ________ to understand customer behavior.
A) supervised data mining
B) cluster analysis
C) neural networks
D) market-basket analysis
E) unsupervised learning
D. market-basket analysis
What is the difference between cluster analysis and classification?
Cluster analysis groups data according to their similarities (that we don’t know
beforehand), and classification predicts output categories based given input data (we
know the data is labeled).
Classification is supervised learning and cluster analysis is unsupervised learning.
An OLAP report has measures and dimensions. Which of the following is an example of a
dimension?
A) total sales
B) average sales
C) sales region
D) average cost
E) average net sales
C. Sales Region
Define descriptive analysis, predictive analysis, and prescriptive analysis.
Use my example of a medical doctor going through your annual physical. Doctor
analyzes your current health conditions (descriptive), he tries to foresee what your health will
be in the future (predictive), and give you recommendations/solutions (e.g., consume less sugar)
as the outcome prescriptive analysis to improve your well-being.
