Test Bank For Introduction to Management Science 13th Edition By Bernard W. Taylor (All Chapters, 100% Original Verified, A+ Grade)

Introduction to Management Science 13e Bernard W. Taylor (Test Bank All
Chapters, 100% Original Verified, A+ Grade)

Introduction to Management Science, 13e (Taylor)
Chapter 1 Management Science

1) A management science solution can be either a recommended decision or information that
helps a manager make a decision.
Answer: TRUE
Diff: 2 Page Ref: 5
Section Heading: The Management Science Approach to Problem Solving
Keywords: model, management science techniques
AACSB: Analytical thinking

2) A variable is a value that is usually a coefficient of a parameter in an equation.
Answer: FALSE
Diff: 1 Page Ref: 3
Section Heading: The Management Science Approach to Problem Solving
Keywords: variable
AACSB: Analytical thinking

3) Parameters are known, constant values that are usually coefficients of variables in equations.
Answer: TRUE
Diff: 1 Page Ref: 3
Section Heading: The Management Science Approach to Problem Solving
Keywords: parameter
AACSB: Analytical thinking

4) Data are pieces of information from the problem environment.
Answer: TRUE
Diff: 1 Page Ref: 4
Section Heading: The Management Science Approach to Problem Solving
Keywords: data
AACSB: Analytical thinking

5) A model is a mathematical representation of a problem situation including variables,
parameters, and equations.
Answer: TRUE
Diff: 1 Page Ref: 3
Section Heading: The Management Science Approach to Problem Solving
Keywords: model, management science techniques
AACSB: Analytical thinking

6) A management science technique usually applies to a specific model type.
Answer: TRUE
Diff: 1 Page Ref: 3
Section Heading: The Management Science Approach to Problem Solving
Keywords: models, management science techniques
AACSB: Analytical thinking

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,7) The first step of the management science process is to define the problem.
Answer: FALSE
Diff: 2 Page Ref: 2
Section Heading: The Management Science Approach to Problem Solving
Keywords: management science process
AACSB: Analytical thinking

8) The term big data refers to numbers of large magnitude, i.e., greater than or equal to one
billion.
Answer: FALSE
Diff: 1 Page Ref: 7
Section Heading: Management Science and Business Analytics
Keywords: big data, analytics
AACSB: Application of knowledge

9) A key component of business analytics is the recent availability of large amounts of data.
Answer: TRUE
Diff: 1 Page Ref: 7
Section Heading: Management Science and Business Analytics
Keywords: big data, analytics
AACSB: Application of knowledge

10) Business analytics brings together the disciplines of information systems, management
science, statistics, and mathematical modeling.
Answer: TRUE
Diff: 1 Page Ref: 7
Section Heading: Management Science and Business Analytics
Keywords: big data, analytics
AACSB: Application of knowledge

11) Management science modeling techniques provide results that are known with certainty.
Answer: FALSE
Diff: 2 Page Ref: 18
Section Heading: Management Science Modeling Techniques
Keywords: management science modeling techniques, certainty
AACSB: Analytical thinking

12) The term sensitivity analysis refers to testing how a problem solution reacts to changes in one
or more of the model parameters.
Answer: TRUE
Diff: 1 Page Ref: 12
Section Heading: Model Building: Break-Even Analysis
Keywords: sensitivity analysis, parameter changes
AACSB: Application of knowledge




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,13) Variable costs depend on the number of items produced.
Answer: TRUE
Diff: 1 Page Ref: 9
Section Heading: Model Building: Break-Even Analysis
Keywords: variable cost, break-even analysis
AACSB: Application of knowledge

14) Fixed cost is the difference between total cost and total variable cost.
Answer: TRUE
Diff: 1 Page Ref: 9
Section Heading: Model Building: Break-Even Analysis
Keywords: total cost, break-even analysis
AACSB: Application of knowledge

15) The break-even point is the volume that equates total revenue with total cost.
Answer: TRUE
Diff: 1 Page Ref: 10
Section Heading: Model Building: Break-Even Analysis
Keywords: break-even analysis
AACSB: Analytical thinking

16) In general, an increase in price increases the break-even point if all costs are held constant.
Answer: FALSE
Diff: 1 Page Ref: 12
Section Heading: Model Building: Break-Even Analysis
Keywords: break-even analysis
AACSB: Analytical thinking

17) If variable costs increase, but price and fixed costs are held constant, the break-even point
will decrease.
Answer: FALSE
Diff: 2 Page Ref: 12
Section Heading: Model Building: Break-Even Analysis
Keywords: break-even analysis
AACSB: Analytical thinking

18) Managers utilize spreadsheets to conduct their own analyses in management science studies.
Answer: TRUE
Diff: 2 Page Ref: 14
Section Heading: Computer Solution
Keywords: spreadsheets
AACSB: Analytical thinking




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, 19) Management science techniques focus primarily on observation, model construction, and
implementation to find an appropriate solution to a problem.
Answer: FALSE
Diff: 2 Page Ref: 16
Section Heading: Management Science Modeling Techniques
Keywords: management science modeling techniques, steps of the scientific method
AACSB: Analytical thinking

20) Management science modeling techniques focus on model construction and problem
solution.
Answer: TRUE
Diff: 2 Page Ref: 16
Section Heading: Management Science Modeling Techniques
Keywords: management science model techniques, model construction, problem solution
AACSB: Analytical thinking

21) A typical objective function might be written as 3S + 2R + 5Z ≤ 20.
Answer: FALSE
Diff: 2 Page Ref: 4
Section Heading: The Management Science Approach to Problem Solving
Keywords: objective function
AACSB: Analytical thinking

22) Decision Support Systems (DSS) use computers to help decision makers address complex
problems.
Answer: TRUE
Diff: 1 Page Ref: 21
Section Heading: Management Science Models in Decision Support Systems
Keywords: decision making, management science
AACSB: Application of knowledge

23) In both an objective function and a constraint, the decision variables are represented by
numbers.
Answer: FALSE
Diff: 1 Page Ref: 4
Section Heading: The Management Science Approach to Problem Solving
Keywords: decision variables
AACSB: Analytical thinking

24) A DSS is a type of ERP system.
Answer: FALSE
Diff: 2 Page Ref: 22
Section Heading: The Management Science Approach to Problem Solving
Keywords: DSS, ERP
AACSB: Analytical thinking



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