Which of the following is the first step of data preparation?
A) standardization of data
B) creating a data inventory
C) classification of data
D) creating a database
B
Explanation: B) The first step of data preparation is to create a data inventory of all items that have been received, including a list of specific items, sources, and dates requested/received.
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Which of the following is true of a specialty product?
a. It is sold using aggressive personal selling as consumers do not seek out this type of product. b. It is widely distributed in a geographic area in order to sell sufficient quantities to meet profit goals. c. It is bought only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility. d. It is marketed using selective, status-conscious advertising that maintains its exclusive image.
Generating reasonable assumptions is one of the most critical aspects of pro forma analysis
Indicate whether the statement is true or false