Final answer:
The statement is false; functions, formulas, charts, and what-if analysis are features of spreadsheet software, not of database management systems which focus on data storage, manipulation, and retrieval functions.
Step-by-step explanation:
The statement that functions, formulas, charts, and what-if analysis are common features of database management systems is false. These features are typically associated with spreadsheet software such as Microsoft Excel. Database management systems (DBMS) like MySQL, Oracle, or Microsoft Access are designed to store, manage, and retrieve large volumes of data efficiently. They do include some functions and mechanisms for data manipulation and querying, but the extensive use of functions, formulas, charts, and what-if analysis tools are not typical in database management systems as they are in spreadsheet applications.
If a statement about the features of database management systems needs to be corrected, it should reflect the primary functions such as data storage, manipulation, and querying capabilities rather than spreadsheet-like functionalities.