Test Bank for Quantitative Analysis for Management, 14th edition By Render All Chapters ||Complete A+ Guide

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,TEST BANK FOR oo oo


Quantitative Analysis for Management, 14th edition Render
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Chapter 1-15 oo




Chapter 1 Introduction to Quantitative Analysis
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1.1 o o o o True/False

1) Interviews, statistical sampling, and company reports provide input data for
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quantitative analysis models.
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Answer: TRUE o o


Diff:
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Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept o o o o




2) In the early 1900s, Frederick Winslow Taylor pioneered the principles of the scientific
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approach to management.
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Answer: TRUE o o


Diff:
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Topic: WHAT IS QUANTITATIVE ANALYSIS?
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LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
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situation.
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AACSB: Analytical o o


thinking Classification:
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o Concept
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3) Managers do not need to be familiar with the limitations, assumptions, and/or
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specific applicability of the quantitative analysis technique to use it for accurate
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decision making. Answer: FALSE
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Diff: Moderate
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Topic: INTRODUCTION o o o o


LO: 1.6: Recognize possible problems in using quantitative
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analysis. AACSB: Analytical thinking
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Classification: Concept o o o o




4) During World War II, many new scientific and quantitative techniques were developed to
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assist the military, and these developments were so successful that many companies started
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using similar techniques in managerial decision making and planning after the war.
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Answer: TRUE o o


Diff:
oo Moderate o o o o


Topic: WHAT IS QUANTITATIVE ANALYSIS?
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LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
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situation.
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AACSB: Analytical o o




2
Copyright © 2024 Pearson Education,
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Inc.

,oo thinking Classification:
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, 5) The study of Business Analytics involves the use of large datasets known as big
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data. Answer: TRUE
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Diff: o oModerate o o


Topic: BUSINESS ANALYTICS
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LO: 1.2: Describe the three categories of business
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analytics. AACSB: Analytical thinking
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Classification: Concept o o o o




6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past
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data. Answer: TRUE
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Diff: o oModerate o o


Topic: BUSINESS ANALYTICS
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LO: 1.2: Describe the three categories of business
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analytics. AACSB: Analytical thinking
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Classification: Concept o o o o




7) When a problem is difficult to quantify, it may be necessary to develop unspecific
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objectives. Answer: FALSE
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Diff: o oModerate o o


Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept o o o o




8) The Quantitative Analysis Approach consists of six
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steps. Answer: FALSE
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Diff: o oModerate o o


Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept o o o o




9) A schematic model is a picture, drawing, or chart of
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reality. Answer: TRUE
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Diff: o o Moderate o o


Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept o o o o




10) Decision variables may also be called oo oo oo oo oo


parameters. Answer: FALSE
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Diff: o oModerate o o


Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept o o o o




4
Copyright © 2024 Pearson Education,
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Inc.