MGMT 918 Wharton Business Analytics Coursera Quiz.

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Module 1: Introduction to Models Quiz Quiz, 10 questions Question 1 1 point 1. Question 1 Which of the following features is typically NOT associated with a quantitative model for a business pr... ocess? Mathematical equations A formal description of a business process A 100% accurate representation of the business process Assumptions Question 2 1 point 2. Question 2 For which activity(ies) might you use a quantitative model?  (i) Forecasting  (ii) Targeting  (iii) Optimization (i) (i), (ii), and (iii) (ii) and (iii) Schlumberger-Private (i) and (ii) Question 3 1 point 3. Question 3 Which of the following activities is typically NOT a part of the modeling process? Model formulation Sensitivity analysis Validation Creating a model, so that the output always agrees with our prior expectations Question 4 1 point 4. Question 4 If a model gives a different output even when the inputs are the same, then what sort of model must it be? Deterministic Probabilistic Dynamic Discrete Question 5 1 point Schlumberger-Private 5. Question 5 From a modeling perspective, what is the key difference between a digital and an analog thermometer? The digital thermometer provides a discrete reading of the temperate, whereas the analog provides a continuous one The digital thermometer provides a continuous reading of temperature, whereas the analog provides a discrete one The digital thermometer always provides a more accurate reading of the temperature There is no difference, because they will always provide identical readings of temperature Question 6 1 point 6. Question 6 In the model y=3 e^(0.02 t) , where t is measured in months and y measures the number of customers in thousands, what is the best interpretation of the coefficient 0.02? The monthly customer growth rate is approximately 2% Two-thousand extra customers are added every month The annual custome [Show More]

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