Business Intelligence Quiz

What is a mathematical model?

• A type of food

• A kind of animal

• A representation of a real system

• A way to play games

Which type of model imitates real behavior by analogy?

• Stochastic model

• Symbolic model

• Analogical model

• Iconic model

What is a characteristic of a deterministic model?

• It includes random events

• All input data is known with certainty

• It is always wrong

• It cannot be used in business

What is the first step in developing a mathematical model?

• Data validation

• Implementation

• Problem identification

• Model formulation

What do predictive models help with?

• Cooking food

• Making predictions

• Building houses

• Playing sports

Which model is used to analyze waiting lines?

• Risk analysis model

• Waiting line model

• Optimization model

• Project management model

What is the purpose of optimization models?

• To waste resources

• To find the best decision

• To confuse people

• To create art

What do pattern recognition models do?

• Make music

• Draw pictures

• Cook meals

• Help with learning

What is a key feature of a stochastic model?

• It is very simple

• It is always correct

• It includes random events

• It cannot be used

What is the last step in the model development process?

• Data collection

• Model formulation

• Testing and implementation

• Problem identification