Test bank with solution manual for quantitative analysis for management 14th edition by barry render stair

TEST BANK u




Quantitative Analysis for Management, 14th Editionb
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y Barry Render , All 15 Chapters Covered
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1

, TABLE OF CONTENTS
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1. Introduction to Quantitative Analysis
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2. Probability Concepts and Applications
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3. Decision Analysis
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4. Regression Models u




5. Forecasting

6. Inventory Control Models
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7. Linear Programming Models: Graphical and Computer Methods
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8. Linear Programming Applications
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9. Transportation, Assignment, and Network Models
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10. Integer Programming, Goal Programming, and Nonlinear Programming
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11. Project Management
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12. Waiting Lines and Queuing Theory Models
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13. Simulation Modeling u




14. Markov Analysis u




15. Statistical Quality Control u u




2

,QuantitativeuAnalysisuforuManagement,u14eu(Render)u
Chapteru1IntroductionutouQuantitativeuAnalysis

1.1 True/False
1) Interviews,ustatisticalusampling,uanducompanyureportsuprovideuinputudatauforuquantitativeua
nalysisu models.
Answer:uTRUEu
Diff:uModerate
Topic:u THEuQUANTITATIVEuANALYSISuAPPROACH
LO:u1.3:uDescribeutheuuseuofumodelinguinuquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept

2) Inutheuearlyu1900s,uFrederickuWinslowuTaylorupioneeredutheuprinciplesuofutheuscientificua
pproachutou management.
Answer:uTRUEu
Diff:uModerate
Topic:u WHATuISuQUANTITATIVEuANALYSIS?
LO:u1.1:uDescribeutheuquantitativeuanalysisuapproachuanduunderstanduhowutouapplyuitutouaurealusituati
on.
AACSB:uAnalyticaluthinkingu
Classification:u Concept

3) Managersudounotuneedutoubeufamiliaruwithutheulimitations,uassumptions,uand/oruspecificua
pplicabilityuofutheuquantitativeuanalysisutechniqueutouuseuituforuaccurateudecisionumaking.uA
nswer:u FALSE
Diff:uModerate
Topic:uINTRODUCTION
LO:u1.6:uRecognizeupossibleuproblemsuinuusinguquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept

4) DuringuWorlduWaruII,umanyunewuscientificuanduquantitativeutechniquesuwereudevelopedutouassis
tutheumilitary,uandutheseudevelopmentsuwereusousuccessfuluthatumanyucompaniesustarteduusingusimila
rutechniquesuinumanagerialudecisionumakinguanduplanninguafterutheuwar.
Answer:uTRUEu
Diff:uModerate
Topic:u WHATuISuQUANTITATIVEuANALYSIS?
LO:u1.1:uDescribeutheuquantitativeuanalysisuapproachuanduunderstanduhowutouapplyuitutouaurealusituati
on.
AACSB:uAnalyticaluthinkingu
Classification:u Concept




3

, 5) TheustudyuofuBusinessuAnalyticsuinvolvesutheuuseuofulargeudatasetsuknownuasubigudata.
Answer:uTRUEu
Diff:uModerate
Topic:u BUSINESSuANALYTICS
LO:u1.2:uDescribeutheuthreeucategoriesuofubusinessuanalytics.u
AACSB:u Analyticaluthinking
Classification:u Concept

6) PredictiveuAnalyticsuisuaimeduatuforecastingufutureuoutcomesubaseduonupatternsuinutheupastudata.
Answer:uTRUEu
Diff:uModerate
Topic:u BUSINESSuANALYTICS
LO:u1.2:uDescribeutheuthreeucategoriesuofubusinessuanalytics.u
AACSB:u Analyticaluthinking
Classification:u Concept

7) Whenuauproblemuisudifficultutouquantify,uitumayubeunecessaryutou developuunspecificuobjectives.
Answer:uFALSEu
Diff:uModerate
Topic:u THEuQUANTITATIVEuANALYSISuAPPROACH
LO:u1.3:uDescribeutheuuseuofumodelinguinuquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept

8) TheuQuantitativeuAnalysisuApproachuconsistsuofusixusteps.
Answer:uFALSEu
Diff:uModerate
Topic:u THEuQUANTITATIVEuANALYSISuAPPROACH
LO:u1.3:uDescribeutheuuseuofumodelinguinuquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept

9) Auschematicumodeluisuaupicture,udrawing,uoruchartuofureality.
Answer:uTRUEu
Diff:uModerate
Topic:u THEuQUANTITATIVEuANALYSISuAPPROACH
LO:u1.3:uDescribeutheuuseuofumodelinguinuquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept

10) Decisionuvariablesumayualsoubeucalleduparameters.
Answer:uFALSEu
Diff:uModerate
Topic:u THEuQUANTITATIVEuANALYSISuAPPROACH
LO:u1.3:uDescribeutheuuseuofumodelinguinuquantitativeuanalysis.u
AACSB:u Analyticaluthinking
Classification:u Concept
4