Copyright Cengage Learning. Powered by Cognero. Page 1
,TEST BANK FOR uu uu
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th
uu uu uu uu uu uu uu uu uu uu uu uu
Edition Cliff Ragsdale Chapter 1-15
uu uu uu uu
Answers are at the end of each chapter uu uu uu uu uu uu uu
chapter 1 uu
Indicate whether the statement is true or false.
uu uu uu uu uu uu uu
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
uu to do in reality.
uu uu uu
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-
uu uu uu uu uu uu uu uu uu
use electronic spreadsheets have made the tools of business analytics far more practical and available to a much lar
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
ger audience.
uu
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
uu uu uu uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical equation and
uu uu uu uu uu uu uu uu uu uu uu uu uu uu u
the spreadsheet.
u uu
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
uu uu uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
6. Good decisions always result in good outcomes.
uu uu uu uu uu uu
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
8. OR/MS specialists do not deliver business value.
uu uu uu uu uu uu
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
uu uu uu uu uu uu uu uu uu uu uu uu
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,9. Identifying the real problems faced by the decision maker
uu uu uu uu uu uu uu uu
a. is not important since the decision maker has already defined the problem.
uu uu uu uu uu uu uu uu uu uu uu
b. requires insight, some imagination, time and a good bit of detective work.
uu uu uu uu uu uu uu uu uu uu uu
c. first requires a well-defined problem statement.
uu uu uu uu uu
d. will lead to developing the best model.
uu uu uu uu uu uu
10. Business opportunities can be viewed and formulated as
uu uu uu uu uu uu uu
a. decision problems. uu
b. analytical models. uu
c. empirical models. uu
d. testing tools. uu
11. In a spreadsheet, input cells correspond conceptually to
uu uu uu uu uu uu uu
a. dependent variables. uu
b. functions.
c. independent variables. uu
d. output cells. uu
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the deci
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
sion maker?
uu
a. Descriptive models uu
b. Predictive models uu
c. Prescriptive models uu
d. Preventive models uu
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
a. luck.
b. intuition.
c. certainty.
d. predictability.
14. In a model Y=f(x1, x2), Y is called:
uu uu uu uu uu uu uu
a. a dependent variable.
uu uu
b. an independent variable.
uu uu
c. a confounded variable.
uu uu
d. a convoluted variable.
uu uu
15. Which of the following is the type of model used throughout this textbook?
uu uu uu uu uu uu uu uu uu uu uu uu
a. Mathematical model uu
b. Mental model uu
c. Physical model uu
d. Visual model uu
16. The essence of decision analysis is:
uu uu uu uu uu
Copyright Cengage Learning. Powered by Cognero. Page 3
, a. breaking down complex situations into manageable elements.
uu uu uu uu uu uu
b. choosing the best course of action among alternatives.
uu uu uu uu uu uu uu
c. finding the root cause of why something has gone wrong.
uu uu uu uu uu uu uu uu uu
d. thinking ahead to avoid negative consequences.
uu uu uu uu uu
17. A road map is an example of
uu uu uu uu uu uu
a. a mathematical model.
uu uu
b. a mental model.
uu uu
c. a physical model.
uu uu
d. a visual model.
uu uu
18. The mathematical modeling approaches presented in the textbook
uu uu uu uu uu uu uu
a. are a subset of the total problem-solving process.
uu uu uu uu uu uu uu
b. cover the entire spectrum of decision support approaches.
uu uu uu uu uu uu uu
c. are exhaustive.
uu
d. are complementary.
uu
19. Operations Research got its start uu uu uu uu
a. during World War II. uu uu uu
b. with the first Univac computers in the early 1950's.
uu uu uu uu uu uu uu uu
c. from roots in Operations Management.
uu uu uu uu
d. from Frederick Taylor's Scientific Management.
uu uu uu uu
20. Anchoring occurs when: uu uu
a. a trivial factor is used as a starting point for estimations in a decision-making problem.
uu uu uu uu uu uu uu uu uu uu uu uu uu uu
b. a difficult factor is incorporated in a problem.
uu uu uu uu uu uu uu
c. an easy solution is obtained to a difficult problem.
uu uu uu uu uu uu uu uu
d. obtaining a solution is trivial. uu uu uu uu
21. Two of the effects associated with decision problems are:
uu uu uu uu uu uu uu uu
a. anchoring and framing. uu uu
b. anchoring and loading. uu uu
c. framing and complacency. uu uu
d. anchoring and luck uu uu
22. In the textbook the words "opportunity" and "problem" are
uu uu uu uu uu uu uu uu
a. disjoint.
b. used interchangeably.
uu
c. mutually exclusive. uu
d. complementary.
23. A valid model:
uu uu
a. accurately represents a decision problem being studied.
uu uu uu uu uu uu
b. produces an optimal solution. uu uu uu
Copyright Cengage Learning. Powered by Cognero. Page 4
,TEST BANK FOR uu uu
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th
uu uu uu uu uu uu uu uu uu uu uu uu
Edition Cliff Ragsdale Chapter 1-15
uu uu uu uu
Answers are at the end of each chapter uu uu uu uu uu uu uu
chapter 1 uu
Indicate whether the statement is true or false.
uu uu uu uu uu uu uu
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
uu to do in reality.
uu uu uu
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-
uu uu uu uu uu uu uu uu uu
use electronic spreadsheets have made the tools of business analytics far more practical and available to a much lar
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
ger audience.
uu
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
uu uu uu uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical equation and
uu uu uu uu uu uu uu uu uu uu uu uu uu uu u
the spreadsheet.
u uu
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
uu uu uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
6. Good decisions always result in good outcomes.
uu uu uu uu uu uu
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
uu uu uu uu uu uu uu uu uu uu uu
a. True
b. False
8. OR/MS specialists do not deliver business value.
uu uu uu uu uu uu
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
uu uu uu uu uu uu uu uu uu uu uu uu
Copyright Cengage Learning. Powered by Cognero. Page 2
,9. Identifying the real problems faced by the decision maker
uu uu uu uu uu uu uu uu
a. is not important since the decision maker has already defined the problem.
uu uu uu uu uu uu uu uu uu uu uu
b. requires insight, some imagination, time and a good bit of detective work.
uu uu uu uu uu uu uu uu uu uu uu
c. first requires a well-defined problem statement.
uu uu uu uu uu
d. will lead to developing the best model.
uu uu uu uu uu uu
10. Business opportunities can be viewed and formulated as
uu uu uu uu uu uu uu
a. decision problems. uu
b. analytical models. uu
c. empirical models. uu
d. testing tools. uu
11. In a spreadsheet, input cells correspond conceptually to
uu uu uu uu uu uu uu
a. dependent variables. uu
b. functions.
c. independent variables. uu
d. output cells. uu
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the deci
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
sion maker?
uu
a. Descriptive models uu
b. Predictive models uu
c. Prescriptive models uu
d. Preventive models uu
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu uu
a. luck.
b. intuition.
c. certainty.
d. predictability.
14. In a model Y=f(x1, x2), Y is called:
uu uu uu uu uu uu uu
a. a dependent variable.
uu uu
b. an independent variable.
uu uu
c. a confounded variable.
uu uu
d. a convoluted variable.
uu uu
15. Which of the following is the type of model used throughout this textbook?
uu uu uu uu uu uu uu uu uu uu uu uu
a. Mathematical model uu
b. Mental model uu
c. Physical model uu
d. Visual model uu
16. The essence of decision analysis is:
uu uu uu uu uu
Copyright Cengage Learning. Powered by Cognero. Page 3
, a. breaking down complex situations into manageable elements.
uu uu uu uu uu uu
b. choosing the best course of action among alternatives.
uu uu uu uu uu uu uu
c. finding the root cause of why something has gone wrong.
uu uu uu uu uu uu uu uu uu
d. thinking ahead to avoid negative consequences.
uu uu uu uu uu
17. A road map is an example of
uu uu uu uu uu uu
a. a mathematical model.
uu uu
b. a mental model.
uu uu
c. a physical model.
uu uu
d. a visual model.
uu uu
18. The mathematical modeling approaches presented in the textbook
uu uu uu uu uu uu uu
a. are a subset of the total problem-solving process.
uu uu uu uu uu uu uu
b. cover the entire spectrum of decision support approaches.
uu uu uu uu uu uu uu
c. are exhaustive.
uu
d. are complementary.
uu
19. Operations Research got its start uu uu uu uu
a. during World War II. uu uu uu
b. with the first Univac computers in the early 1950's.
uu uu uu uu uu uu uu uu
c. from roots in Operations Management.
uu uu uu uu
d. from Frederick Taylor's Scientific Management.
uu uu uu uu
20. Anchoring occurs when: uu uu
a. a trivial factor is used as a starting point for estimations in a decision-making problem.
uu uu uu uu uu uu uu uu uu uu uu uu uu uu
b. a difficult factor is incorporated in a problem.
uu uu uu uu uu uu uu
c. an easy solution is obtained to a difficult problem.
uu uu uu uu uu uu uu uu
d. obtaining a solution is trivial. uu uu uu uu
21. Two of the effects associated with decision problems are:
uu uu uu uu uu uu uu uu
a. anchoring and framing. uu uu
b. anchoring and loading. uu uu
c. framing and complacency. uu uu
d. anchoring and luck uu uu
22. In the textbook the words "opportunity" and "problem" are
uu uu uu uu uu uu uu uu
a. disjoint.
b. used interchangeably.
uu
c. mutually exclusive. uu
d. complementary.
23. A valid model:
uu uu
a. accurately represents a decision problem being studied.
uu uu uu uu uu uu
b. produces an optimal solution. uu uu uu
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