Question

In: Accounting

1. The basic data structure for a Pivot Table is A. a pie chart B. a...

1. The basic data structure for a Pivot Table is

A.

a pie chart

B.

a line chart

C.

a decision variable

D.

an uncontrollable

E.

a multidimensional cube

2. Which traits can describe big data?

A.

All of the above

B.

None of the above

C.

High speed

D.

High variety

E.

High volume

3. When you only have one data series to visualize, you do need to add a legend.

True

False

4. Which of the following would NOT be a good choice to display as a pie chart?

A.

all expense line-items for a given month

B.

sales revenue for each of our product lines for a given month

C.

all expense line-items for a given year

D.

sales revenue, gross profit, EBT, and net income

E.

sales revenue for each of our product lines for a given year

5.

Suppose you build a model of your furniture business in Excel. Which of the following statements about the decision variables (also called “controllables”) and uncontrollables in the model is true?

A.

The price you charge for your chairs is an uncontrollable, but the price your competitor charges is a decision variable

B.

The price you charge for your chairs is a decision variable, but the price your competitor charges is an uncontrollable

C.

The price you charge and the price your competitor charges are both decision variables.

D.

The price you charge is a decision variable, but the quantity of chairs you manufacture is an uncontrollable

E.

The price you charge and the price your competitor charges are both uncontrollables.

6.

Which of the following analyses is the foundation for the advanced analyses?

A.

Prescriptive analysis

B.

All of the above

C.

None of the above

D.

Predictive analysis

E.

Descriptive analysis

7.

Solutions

Expert Solution

Answer 1: Option E - Multidimensional cube.

Explanation: Pivot table includes row items, column items and values which can be shown in the respective rows and columns.

Answer 2: Option A - All of the above.

Explanation: Big data is the data technology which can be used for analysing a variety of data with high volumes and at a high speed.

Answer 3: Option B - False.

Explanation: When there is only one data series, legend may not be required as data can be analysed visually without the legends. Legends are used when there are multiple data series in the data.

Answer 4: Option D - Sales Revenue, Gross Profit, EBT and Net Income.

Explanation: Pie chart is usually used for displaying the contribution done by different variables which makes the 100% of the given data set (i.e. the pie chart). In the above option D, Gross profit, EBT and Net Income are the subset of the Sales revenue itself, hence displaying it with a pie chart will not give the correct picture, as the variables are not independent. Gross profit, EBT and Net Income are dependent on the Sales revenue.

Answer 5: Option B - The price you charge for your chairs is a decision variable, but the price your competitor charges is an uncontrollable.

Explanation: The company can decide the price for the chairs as per the management decision, but it does not has any control on what the competitor charges for there product.

Answer 6: Option D - Predictive analysis.

Explanation: For doing predictive analysis, several permutations and combinations and scenarios are required to be consiered, hence such an analysis can be performed only with advanced analysis of the data.

No detail provided for Question 7.   


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