Test Bank for an Introduction to Management Science Quantitative Approach 15th Edition (Cengage, 2018) by Anderson, Sweeney and Thomas, Isbn no; 9781337406529, all Chapters Covered

Test Bank For An Introduction to Management Science- Quantitative
Approach, 15th Edition by Anderson


True / False

1. The process of decision making is more limited than that of problem solving.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Understand


2. The breakeven point is the point at which the volume of output produced is the result of total revenue
equaling total cost.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.04 - 1.4
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.4 Models of Cost, Revenue, and Profit
KEYWORDS: Bloom's: Understand


3. Problem solving encompasses both the identification of a problem and the action to resolve it.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Remember

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,4. The decision-making process includes implementation and subsequent evaluation of the decision.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Understand


5. Most successful quantitative analysis models will advise separating the management analyst from the
managerial team until after the problem has been fully structured.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand


6. The value of making a decision based on models is dependent on how closely the model represents the
real situation.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand


7. Uncontrollable inputs are the decision variables for a model.
a. True
b. False
ANSWER: False

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,POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Remember


8. The feasible solution is the best solution possible for a mathematical model.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand


9. Frederic W. Taylor is credited with providing the foundation for quantitative methodology in the early
part of the 20th century.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Remember


10. To identify the choice that provides the highest profit and also uses the fewest employees, we apply a
single-criterion decision process.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making

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, KEYWORDS: Bloom's: Understand


11. The most critical component in determining the success or failure of any quantitative approach to
decision making is problem definition.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Remember


12. The first step in the decision-making process is to identify the problem.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Remember


13. All uncontrollable inputs or data must be specified before we can analyze the model and recommend a
decision or solution for the problem.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand


14. If you are deciding to buy either machine A, B, or C with the objective of minimizing the sum of
labor, material and utility costs, you are dealing with a single-criterion decision.
a. True

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