Test Bank for Quantitative Analysis for Management, 14th
edition Render
,TEST BANK FOR
Quantitative Analysis for Management, 14th edition Render
Chapter 1-15
Chapter q1 Introduction qto qQuantitative qAnalysis
1.1 q q True/False
1) Interviews, qstatistical qsampling, qand qcompany qreports qprovide qinput qdata qfor
qquantitative qanalysis qmodels.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
2) In qthe qearly q1900s, qFrederick qWinslow qTaylor qpioneered qthe qprinciples qof qthe qscientific
qapproach qto qmanagement.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q WHAT qIS qQUANTITATIVE qANALYSIS?
LO: q 1.1: qDescribe qthe qquantitative qanalysis qapproach qand qunderstand qhow qto qapply qit qto qa qreal
qsituation.
AACSB: q Analytical qthinking
qClassification: q Concept
3) Managers qdo qnot qneed qto qbe qfamiliar qwith qthe qlimitations, qassumptions, qand/or
qspecific qapplicability qof qthe qquantitative qanalysis qtechnique qto quse qit qfor qaccurate
qdecision qmaking. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q INTRODUCTION
LO: q 1.6: qRecognize qpossible qproblems qin qusing qquantitative
qanalysis. qAACSB: q Analytical qthinking
Classification: q q Concept
4) During qWorld qWar qII, qmany qnew qscientific qand qquantitative qtechniques qwere qdeveloped qto
qassist qthe qmilitary, qand qthese qdevelopments qwere qso qsuccessful qthat qmany qcompanies qstarted
qusing qsimilar qtechniques qin qmanagerial qdecision qmaking qand qplanning qafter qthe qwar.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q WHAT qIS qQUANTITATIVE qANALYSIS?
LO: q 1.1: qDescribe qthe qquantitative qanalysis qapproach qand qunderstand qhow qto qapply qit qto qa qreal
qsituation.
AACSB: q Analytical qthinking
qClassification: q Concept
,5) The qstudy qof qBusiness qAnalytics qinvolves qthe quse qof qlarge qdatasets qknown qas qbig
qdata. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q BUSINESS qANALYTICS
LO: q 1.2: qDescribe qthe qthree qcategories qof qbusiness qanalytics.
qAACSB: q Analytical qthinking
Classification: q q Concept
6) Predictive qAnalytics qis qaimed qat qforecasting qfuture qoutcomes qbased qon qpatterns qin qthe qpast
qdata. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q BUSINESS qANALYTICS
LO: q 1.2: qDescribe qthe qthree qcategories qof qbusiness qanalytics.
qAACSB: q Analytical qthinking
Classification: q q Concept
7) When qa qproblem qis qdifficult qto qquantify, qit qmay qbe qnecessary qto qdevelop qunspecific
qobjectives. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
8) The qQuantitative qAnalysis qApproach qconsists qof qsix
qsteps. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
9) A qschematic qmodel qis qa qpicture, qdrawing, qor qchart qof
qreality. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
10) Decision qvariables qmay qalso qbe qcalled
qparameters. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
, 11) Model qvariables qcan qbe qcontrollable qor
quncontrollable. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
12) A qseries qof qsteps qor qprocedures qthat qare qrepeated qis qknown qas qan
qalgorithm. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
13) A qmodel qis qa qrepresentation qof qa
qsituation. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
14) A qparameter qis qa qmeasurable qquantity qthat qmay qvary qor qis qsubject qto
qchange. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
15) Trying qvarious qapproaches qand qpicking qthe qone qresulting qin qthe qbest qdecision qis
qcalled qincomplete qenumeration.
Answer: q FALSE
qDiff: q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
edition Render
,TEST BANK FOR
Quantitative Analysis for Management, 14th edition Render
Chapter 1-15
Chapter q1 Introduction qto qQuantitative qAnalysis
1.1 q q True/False
1) Interviews, qstatistical qsampling, qand qcompany qreports qprovide qinput qdata qfor
qquantitative qanalysis qmodels.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
2) In qthe qearly q1900s, qFrederick qWinslow qTaylor qpioneered qthe qprinciples qof qthe qscientific
qapproach qto qmanagement.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q WHAT qIS qQUANTITATIVE qANALYSIS?
LO: q 1.1: qDescribe qthe qquantitative qanalysis qapproach qand qunderstand qhow qto qapply qit qto qa qreal
qsituation.
AACSB: q Analytical qthinking
qClassification: q Concept
3) Managers qdo qnot qneed qto qbe qfamiliar qwith qthe qlimitations, qassumptions, qand/or
qspecific qapplicability qof qthe qquantitative qanalysis qtechnique qto quse qit qfor qaccurate
qdecision qmaking. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q INTRODUCTION
LO: q 1.6: qRecognize qpossible qproblems qin qusing qquantitative
qanalysis. qAACSB: q Analytical qthinking
Classification: q q Concept
4) During qWorld qWar qII, qmany qnew qscientific qand qquantitative qtechniques qwere qdeveloped qto
qassist qthe qmilitary, qand qthese qdevelopments qwere qso qsuccessful qthat qmany qcompanies qstarted
qusing qsimilar qtechniques qin qmanagerial qdecision qmaking qand qplanning qafter qthe qwar.
Answer: q TRUE
qDiff: q q Moderate
Topic: q q WHAT qIS qQUANTITATIVE qANALYSIS?
LO: q 1.1: qDescribe qthe qquantitative qanalysis qapproach qand qunderstand qhow qto qapply qit qto qa qreal
qsituation.
AACSB: q Analytical qthinking
qClassification: q Concept
,5) The qstudy qof qBusiness qAnalytics qinvolves qthe quse qof qlarge qdatasets qknown qas qbig
qdata. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q BUSINESS qANALYTICS
LO: q 1.2: qDescribe qthe qthree qcategories qof qbusiness qanalytics.
qAACSB: q Analytical qthinking
Classification: q q Concept
6) Predictive qAnalytics qis qaimed qat qforecasting qfuture qoutcomes qbased qon qpatterns qin qthe qpast
qdata. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q BUSINESS qANALYTICS
LO: q 1.2: qDescribe qthe qthree qcategories qof qbusiness qanalytics.
qAACSB: q Analytical qthinking
Classification: q q Concept
7) When qa qproblem qis qdifficult qto qquantify, qit qmay qbe qnecessary qto qdevelop qunspecific
qobjectives. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
8) The qQuantitative qAnalysis qApproach qconsists qof qsix
qsteps. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
9) A qschematic qmodel qis qa qpicture, qdrawing, qor qchart qof
qreality. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
10) Decision qvariables qmay qalso qbe qcalled
qparameters. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
, 11) Model qvariables qcan qbe qcontrollable qor
quncontrollable. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
12) A qseries qof qsteps qor qprocedures qthat qare qrepeated qis qknown qas qan
qalgorithm. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
13) A qmodel qis qa qrepresentation qof qa
qsituation. qAnswer: q TRUE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
14) A qparameter qis qa qmeasurable qquantity qthat qmay qvary qor qis qsubject qto
qchange. qAnswer: q FALSE
Diff: q q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
15) Trying qvarious qapproaches qand qpicking qthe qone qresulting qin qthe qbest qdecision qis
qcalled qincomplete qenumeration.
Answer: q FALSE
qDiff: q Moderate
Topic: q q THE qQUANTITATIVE qANALYSIS qAPPROACH
LO: q 1.3: qDescribe qthe quse qof qmodeling qin qquantitative qanalysis.
qAACSB: q Analytical qthinking
Classification: q q Concept
