100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank for Quantitative Analysis for Management 14th Edition By Barry Render, Ralph Stair, Michael Hanna, Trevor Hale (All Chapters, 100% Original Verified, A+ Grade) £8.11   Add to cart
Quickly navigate to
Preview
  2.  
  3. Quantitative Analysis For Management
  4.  
  5. Quantitative Analysis for Management

Exam (elaborations)

Test Bank for Quantitative Analysis for Management 14th Edition By Barry Render, Ralph Stair, Michael Hanna, Trevor Hale (All Chapters, 100% Original Verified, A+ Grade)
 10 views  0 purchase
  • Module
  • Quantitative Analysis for Management
  • Institution
  • Quantitative Analysis For Management

This Is Original 14th Edition of Test Bank From Original Author. All Other Files in the market are fake/old Edition. Other Sellers Have changed old Edition Number to new But Test Bank is old Edition. Test Bank for Quantitative Analysis for Management 14th Edition By Barry Render, Ralph Stair, M...

[Show more]

Preview 4 out of 1043  pages

Document information

  • April 1, 2024
  • 1043
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test bank exam bank mcqs solutions manual
  • test bank download free test bank download
  • free solutions manual answer key download

Written for

  • Quantitative Analysis for Management
  • Quantitative Analysis for Management

Seller

avatar-seller
tutorsection

Reviews received

Content preview

1 Copyright © 2024 Pearson Education, Inc. Quantitative Analysis for Management, 14e (Render) Chapter 1 Introduction to Quantitative Analysis 1.1 True/False 1) Interviews, statistical sampling, and company reports provide input data for quantitative
analysis models.
Answer: TRUE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept
2) In the early 1900s, Frederick Winslow Taylor pioneered the principles of the scien tific
approach to management.
Answer: TRUE
Diff: Moderate
Topic: WHAT IS QUANTITATIVE ANALYSIS?
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
situation.
AACSB: Analytical thinking
Classification: Concep t
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
applicability of the quantitative analysis technique to use it for accurate decision making.
Answer: FALSE
Diff: Moderate
Topic: INTRODUCTION
LO: 1.6: Recognize possible problems in using quantitative analysis.
AACSB: Analytical thinking
Classification: Concept
4)During World War II, many new scientific and quantitative techniques were developed to
assist the military, and these developments were so successful that many companies started using
similar techniques in managerial decision making and planning after the war.
Answer: TRUE
Diff: Moderate
Topic: WHAT IS QUANTITATIVE ANALYSIS?
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
situation.
AACSB: Analytical thinking
Classification: ConceptQuantitative Analysis for Management 14e Barry Render, Ralph Stair, Michael Hanna, Trevor Hale (Test Bank All Chapters, 100% Original Verified, A+ Grade) 2 Copyright © 2024 Pearson Education, Inc. 5) The study of Busi ness Analytics involves the use of large datasets known as big data. Answer: TRUE Diff: Moderate Topic: BUSINESS ANALYTICS LO: 1.2: Describe the three categories of business analytics. AACSB: Analytical thinking Classification: Concept 6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data. Answer: TRUE Diff: Moderate Topic: BUSINESS ANALYTICS LO: 1.2: Describe the three categories of business analytics. AACSB: Analytical thinking Classification: Conc ept 7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 8) The Quantitative Analysis Approach consists of six steps. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: D escribe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 9) A schematic model is a picture, drawing, or chart of reality. Answer: TRUE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 10) Decision variables may also be called parameters. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 3 Copyright © 2024 Pearson Education, Inc. 11) Model variables can be controllable or uncontrollable. Answer: TRUE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 12) A series of steps or procedures that are repeated is known as an algorithm. Answer: TRUE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 13) A model is a representation of a situation. Answer: TRUE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROAC H LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 14) A parameter is a measurable quantity that may vary or is subject to change. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 15) Trying various approaches and picking the one resulting in the best decision is called incomplete enum eration. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 4 Copyright © 2024 Pearson Education, Inc. 16) All problems can be solved by considering only t he quantitative issues. Answer: FALSE Diff: Easy Topic: WHAT IS QUANTITATIVE ANALYSIS? LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real situation. AACSB: Analytical thinking Classification: Concept 17) A profit equation is an example of a schematic model. Answer: FALSE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classification: Concept 18) Testing the data and model should be done before the results have been analyzed. Answer: TRUE Diff: Easy Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: Analytical thinking Classificatio n: Concept 19) Sensitivity analysis helps us estimate the effect of known and unknown errors in our model. Answer: TRUE Diff: Moderate Topic: THE QUANTITATIVE ANALYSIS APPROACH LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB: A nalytical thinking Classification: Concept 20) Models can help us analyze a problem and sell a decision to those who must implement it. Answer: TRUE Diff: Easy Topic: HOW TO DEVELOP A QUANTITATIVE ANALYSIS MODEL LO: 1.4: Prepare a quantitative analys is model. AACSB: Analytical thinking Classification: Concept

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller tutorsection. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £8.11. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72964 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£8.11
  • (0)
  Add to cart