WorksheetsGSDSA- Quiz on Prescriptive Analytics
Total questions: 50
Worksheet time: 38mins
What is the main purpose of prescriptive analytics?
Describe past events
Predict future events
Recommend actions to achieve goals
Store large amounts of data
Which analytics answers the question, “What should we do?”
Descriptive
Predictive
Prescriptive
Diagnostic
Prescriptive analytics relies on:
Guesswork and intuition
Machine learning, mathematical models, optimization
Storytelling and reporting
Simple spreadsheets only
Which industry uses prescriptive analytics for fraud detection and investment strategies?
Retail
Healthcare
Finance
Manufacturing
Optimizing inventory levels and reducing stockouts is an application in:
Finance
Retail
Healthcare
Education
Which benefit of prescriptive analytics helps reduce unnecessary warehouse storage costs?
Improved decision-making
Reduced costs
Increased competitiveness
Enhanced efficiency
Improving production schedules and predicting machine failures is used in:
Retail
Healthcare
Manufacturing
Education
The value of prescriptive analytics lies in its ability to:
Replace human workers
Transform data into strategic decisions
Store large datasets
Increase hardware performance
Which step involves gathering historical and real-time data?
Generate recommendations
Develop a model
Identify the goal
Collect and prepare data
Before applying recommendations, organizations must first:
Delete previous data
Guess the best action
Evaluate feasibility
Build dashboards
Which of the following is NOT a benefit of prescriptive analytics?
Reduced operational costs
Improved efficiency
Increased guesswork
Better decisions
The first step in prescriptive analytics is:
Develop a model
Identify the goal
Generate recommendations
Evaluate the results
What-if analysis explores:
Past results only
Different input scenarios and outcomes
Random data patterns
Irrelevant variables
Which tool allows Excel to find the required input to reach a desired output?
Solver
Scenario Manager
Goal Seek
Data Table
Scenario Manager is used to:
Test many sets of input values
Change only one variable
Create large charts
Remove missing data
Data Tables help analyze:
One or two variables’ effect on a formula
Text data only
Graphical presentations
Messaging systems
Which is NOT a spreadsheet tool?
Excel
Google Sheets
COMSOL
LibreOffice Calc
Which Excel tool finds "What score do I need to pass?"
Scenario Manager
Goal Seek
Filtering
Pivot Table
Spreadsheet data is organized in:
Pages
Rows and columns
Paragraphs
Layers
Which function converts text to number format?
SUM
VALUE
AVERAGE
SUMPRODUCT
Pivot tables are used to:
Delete data
Summarize and analyze large datasets
Format paragraph styles
Convert text into charts
In education, What-If Analysis helps students:
Cheat on exams
Predict grades and set goals
Remove subjects
Avoid assignments
Simulation tools allow users to:
Copy data automatically
Model complex systems in a virtual environment
Replace spreadsheets
Store large videos
Simulation tools are useful when real testing is:
Cheap
Safe and easy
Risky or expensive
Not needed
Which is a popular engineering simulation tool?
Google Sheets
MATLAB Simulink
Excel Solver
Pyomo
COMSOL is best used for simulating:
Text documents
Multiphysics interactions
Payroll
Attendance systems
In manufacturing, simulation helps:
Increase paperwork
Model production workflows and reduce bottlenecks
Slow down processes
Increase electricity consumption
A digital twin is:
A backup file
A virtual replica of a real system
A student copy of notes
A duplicate spreadsheet
Healthcare uses simulation tools for:
Virtual surgeries
Website design
Email filtering
Attendance tracking
Financial simulation often uses:
Monte Carlo methods
Text mining
Image editing
Voice recognition only
One major benefit of simulation tools is:
Increasing risk
Reducing cost and speeding up testing
Limiting experimentation
Replacing all human workers
Simulation tools support:
Guess-based decision-making
Evidence-based decision-making
No decision-making
Elimination of human involvement
Bridge design simulation helps ensure:
The bridge looks good on paper
Structural strength and safety before construction
Only artistic design
Excessive material waste
Optimization aims to:
Make decisions randomly
Make systems more efficient and effective
Increase storage space
Replace spreadsheets
Which tool is best for simple optimization problems?
Gurobi
CPLEX
Excel Solver
Pyomo
Which solver is known for large-scale, industrial optimization?
Excel Solver
Gurobi
Google Sheets
Zoho Sheet
Pyomo is a Python library for:
Word processing
Optimization modeling
Animation
Audio editing
The first step in optimization is to
Identify the problem
Run the solver immediately
Create charts
Store datasets
Constraints in optimization represent
Forbidden solutions
Limitations or conditions
Irrelevant information
Random values
Objective function refers to
The goal to minimize or maximize
The format of a graph
A list of variables
The narrative of a report
Route optimization is common in
Music industry
Logistics
Publishing
Astronomy
A retailer using optimization achieved
+5% sales
+40% downtime
+20% errors
+50% costs
Which industry used optimization to save $100M per year?
Manufacturing
Finance
Airline
Healthcare
Optimization in financial institutions helps reduce
Customer attendance
Operational risk
Printing costs
School dropout rates
Optimization modeling requires
Variables, constraints, and objective function
Only charts and tables
Guessing inputs
Internet connection
Which solver is free and useful for small to medium problems?
Gurobi
GLPK
CPLEX
MATLAB
Excel Solver is
Paid software
A built-in Excel tool
A simulation engine
A cloud-only tool
The final stage of optimization is
Delete results
Implement and monitor
Ignore solutions
Make random changes
Optimization helps businesses reduce
Productivity
Efficiency
Costs and errors
Data quality
The mindset supported by optimization tools is
Continuous improvement
Reckless experimentation
Avoiding data
Eliminating analysis
