Solutions for An Introduction to Management Science Quantitative Approaches to Decision Making, 16th Edition by Anderson (All Chapters included)

An Introduction to Management
Science- Quantitative Approach, 16th Edition
by Anderson Ch 1 to 16




TEST BANK

Page 1

, Table of Contents



1. Introduction.
2. An Introduction to Linear Programming.
3. Linear Programming: Sensitivity Analysis and Interpretation of Solution.
4. Linear Programming Applications in Marketing, Finance, and Operations
Management.
5. Advanced Linear Programming Applications.
6. Distribution and Netẉork Models.
7. Integer Linear Programming.
8. Nonlinear Optimization Models.
9. Project Scheduling: PERT/CPM.
10. Inventory Models.
11. Ẉaiting Line Models.
12. Simulation.
13. Decision Analysis.
14. Multicriteria Decisions.
15. Time Series Analysis and Forecasting.
16. Markov Processes.




Page 2

,Introduction.

True / False

1. The process of decision making is more limited than that of problem solving.
a. True
b. False
ANSẈER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASẈC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYẈORDS: Bloom's: Understand


2. The breakeven point is the point at ẉhich the volume of output produced is the result of total revenue
equaling total cost.
a. True
b. False
ANSẈER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASẈC.19.01.04 - 1.4
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.4 Models of Cost, Revenue, and Profit
KEYẈORDS: Bloom's: Understand


3. Problem solving encompasses both the identification of a problem and the action to resolve it.
a. True
b. False
ANSẈER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASẈC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYẈORDS: Bloom's: Remember




Page 3

, 4. The decision-making process includes implementation and subsequent evaluation of the decision.
a. True
b. False
ANSẈER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASẈC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYẈORDS: Bloom's: Understand


5. Most successful quantitative analysis models ẉill advise separating the management analyst from the
managerial team until after the problem has been fully structured.
a. True
b. False
ANSẈER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASẈC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYẈORDS: Bloom's: Understand


6. The value of making a decision based on models is dependent on hoẉ closely the model represents the
real situation.
a. True
b. False
ANSẈER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASẈC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYẈORDS: Bloom's: Understand


7. Uncontrollable inputs are the decision variables for a model.
a. True
b. False
ANSẈER: False

Page 4