A phrase commonly used to confirm a statement or question when completely sure of oneself. If said with a condescending tone, "oh absolutely" can be an indication that the speaker is a tool. Often used by know-it-alls and douchebags.
Person 1: Hey, does the University of Pennsylvania have a good business school?
Tool: Oh absolutely! The idea that you would even think otherwise is completely ridiculous and shows that I am far superior to you.