1
Copyright © 2024 Pearson Education, Inc.
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,TEST BANK FOR t x t x
Quantitative Analysis for Management, 14th edition Render tx tx tx tx tx tx
Chapter 1-15 tx
Chapter 1 Introduction to Quantitative Analysis tx tx tx tx
1.1 t x t x True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative tx tx tx tx tx tx tx tx tx tx
analysis models.
tx tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
2) Intheearly1900s, FrederickWinslowTaylorpioneeredtheprinciplesofthescientificapproach to
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
management.
tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: WHAT IS QUANTITATIVE ANALYSIS?
t x t x tx tx tx
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real situation.
t x tx tx tx tx tx tx tx tx tx tx tx tx tx tx tx
AACSB: Analytical thinking t x tx
Classification: Concept
tx t x
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific tx tx tx tx tx tx tx tx tx tx tx tx
applicability of the quantitative analysis technique to use it for accurate decision making.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: INTRODUCTION t x t x
LO: 1.6: Recognize possible problems in using quantitative analysis.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
4) During World War II, many new scientific and quantitative techniques were developed to assist
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the military, and these developments were so successful that many companies started using similar
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techniques in managerial decision making and planning after the war.
tx tx tx tx tx tx tx tx tx tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: WHAT IS QUANTITATIVE ANALYSIS?
t x t x tx tx tx
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real situation.
t x tx tx tx tx tx tx tx tx tx tx tx tx tx tx tx
AACSB: Analytical thinking t x tx
Classification: Concept
tx t x
2
Copyright © 2024 Pearson Education, Inc. tx tx tx tx tx
,5) The study of Business Analytics involves the use of large datasets known as big data.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: BUSINESS ANALYTICS t x t x tx
LO: 1.2: Describe the three categories of business analytics.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: BUSINESS ANALYTICS t x t x tx
LO: 1.2: Describe the three categories of business analytics.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
8) The Quantitative Analysis Approach consists of six steps.
tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
9) A schematic model is a picture, drawing, or chart of reality.
tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
10) Decision variables may also be called parameters. tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
3
Copyright © 2024 Pearson Education, Inc.
tx tx tx tx tx
, 11) Model variables can be controllable or uncontrollable.
tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
12) A series of steps or procedures that are repeated is known as an algorithm.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
13) A model is a representation of a situation.
tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
14) A parameter is a measurable quantity that may vary or is subject to change.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
15) Trying various approaches and picking the one resulting in the best decision is called
tx tx tx tx tx tx tx tx tx tx tx tx tx
incomplete enumeration.
tx tx
Answer: FALSE t x
Diff: Moderate
tx t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
4
Copyright © 2024 Pearson Education, Inc.tx tx tx tx tx
Copyright © 2024 Pearson Education, Inc.
tx tx tx tx tx
,TEST BANK FOR t x t x
Quantitative Analysis for Management, 14th edition Render tx tx tx tx tx tx
Chapter 1-15 tx
Chapter 1 Introduction to Quantitative Analysis tx tx tx tx
1.1 t x t x True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative tx tx tx tx tx tx tx tx tx tx
analysis models.
tx tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
2) Intheearly1900s, FrederickWinslowTaylorpioneeredtheprinciplesofthescientificapproach to
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
management.
tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: WHAT IS QUANTITATIVE ANALYSIS?
t x t x tx tx tx
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real situation.
t x tx tx tx tx tx tx tx tx tx tx tx tx tx tx tx
AACSB: Analytical thinking t x tx
Classification: Concept
tx t x
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific tx tx tx tx tx tx tx tx tx tx tx tx
applicability of the quantitative analysis technique to use it for accurate decision making.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: INTRODUCTION t x t x
LO: 1.6: Recognize possible problems in using quantitative analysis.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
4) During World War II, many new scientific and quantitative techniques were developed to assist
tx tx tx tx tx tx tx tx tx tx tx tx tx
the military, and these developments were so successful that many companies started using similar
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
techniques in managerial decision making and planning after the war.
tx tx tx tx tx tx tx tx tx tx
Answer: TRUE t x
Diff: Moderate
tx t x t x
Topic: WHAT IS QUANTITATIVE ANALYSIS?
t x t x tx tx tx
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real situation.
t x tx tx tx tx tx tx tx tx tx tx tx tx tx tx tx
AACSB: Analytical thinking t x tx
Classification: Concept
tx t x
2
Copyright © 2024 Pearson Education, Inc. tx tx tx tx tx
,5) The study of Business Analytics involves the use of large datasets known as big data.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: BUSINESS ANALYTICS t x t x tx
LO: 1.2: Describe the three categories of business analytics.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: BUSINESS ANALYTICS t x t x tx
LO: 1.2: Describe the three categories of business analytics.
t x tx tx tx tx tx tx tx
AACSB: Analytical thinking
tx t x tx
Classification: Concept t x t x
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
tx tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
8) The Quantitative Analysis Approach consists of six steps.
tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
9) A schematic model is a picture, drawing, or chart of reality.
tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
10) Decision variables may also be called parameters. tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
3
Copyright © 2024 Pearson Education, Inc.
tx tx tx tx tx
, 11) Model variables can be controllable or uncontrollable.
tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
12) A series of steps or procedures that are repeated is known as an algorithm.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
13) A model is a representation of a situation.
tx tx tx tx tx tx tx
Answer: TRUE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
14) A parameter is a measurable quantity that may vary or is subject to change.
tx tx tx tx tx tx tx tx tx tx tx tx tx
Answer: FALSE
tx t x
Diff: Moderate
t x t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
15) Trying various approaches and picking the one resulting in the best decision is called
tx tx tx tx tx tx tx tx tx tx tx tx tx
incomplete enumeration.
tx tx
Answer: FALSE t x
Diff: Moderate
tx t x
Topic: THE QUANTITATIVE ANALYSIS APPROACH
t x t x tx tx tx
LO: 1.3: Describe the use of modeling in quantitative analysis. AACSB:
t x tx tx tx tx tx tx tx tx tx
t Analytical thinking
x tx
Classification: Concept t x t x
4
Copyright © 2024 Pearson Education, Inc.tx tx tx tx tx
