1
Copyright © 2024 Pearson Education, Inc.
,TEST BANK FOR u u
Quantitative Analysis for Management, 14th edition Render
u u u u u u
Chapter 1-15 u
Chapter 1 Introduction to Quantitative Analysis
u u u u
1.1 u u True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative
u u u u u u u u u u
analysis models.
u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
2) In the early 1900s, Frederick Winslow Taylor pioneered the principles of the scientific approach
u u u u u u u u u u u u u
to management.
u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: WHAT IS QUANTITATIVE ANALYSIS?
u u u u u
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
u u u u u u u u u u u u u u u
situation.
u
AACSB: Analytical thinking u u
Classification: Concept
u u
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
u u u u u u u u u u u u
applicability of the quantitative analysis technique to use it for accurate decision making.
u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate u u
Topic: INTRODUCTION u u
LO: 1.6: Recognize possible problems in using quantitative analysis.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
4) During World War II, many new scientific and quantitative techniques were developed to assist
u u u u u u u u u u u u u
the military, and these developments were so successful that many companies started using similar
u u u u u u u u u u u u u u
techniques in managerial decision making and planning after the war.
u u u u u u u u u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: WHAT IS QUANTITATIVE ANALYSIS?
u u u u u
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
u u u u u u u u u u u u u u u
situation.
u
AACSB: Analytical thinking u u
Classification: Concept
u u
2
Copyright © 2024 Pearson Education, Inc.
,5) The study of Business Analytics involves the use of large datasets known as big data.
u u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: BUSINESS ANALYTICS
u u u
LO: 1.2: Describe the three categories of business analytics.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
u u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: BUSINESS ANALYTICS
u u u
LO: 1.2: Describe the three categories of business analytics.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
u u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
8) The Quantitative Analysis Approach consists of six steps.
u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
9) A schematic model is a picture, drawing, or chart of reality.
u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
10) Decision variables may also be called parameters.
u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
3
Copyright © 2024 Pearson Education, Inc.
, 11) Model variables can be controllable or uncontrollable.
u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
12) A series of steps or procedures that are repeated is known as an algorithm.
u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
13) A model is a representation of a situation.
u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
14) A parameter is a measurable quantity that may vary or is subject to change.
u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
15) Trying various approaches and picking the one resulting in the best decision is called
u u u u u u u u u u u u u
incomplete enumeration.
u u
Answer: FALSE u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
4
Copyright © 2024 Pearson Education, Inc.
Copyright © 2024 Pearson Education, Inc.
,TEST BANK FOR u u
Quantitative Analysis for Management, 14th edition Render
u u u u u u
Chapter 1-15 u
Chapter 1 Introduction to Quantitative Analysis
u u u u
1.1 u u True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative
u u u u u u u u u u
analysis models.
u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
2) In the early 1900s, Frederick Winslow Taylor pioneered the principles of the scientific approach
u u u u u u u u u u u u u
to management.
u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: WHAT IS QUANTITATIVE ANALYSIS?
u u u u u
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
u u u u u u u u u u u u u u u
situation.
u
AACSB: Analytical thinking u u
Classification: Concept
u u
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
u u u u u u u u u u u u
applicability of the quantitative analysis technique to use it for accurate decision making.
u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate u u
Topic: INTRODUCTION u u
LO: 1.6: Recognize possible problems in using quantitative analysis.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
4) During World War II, many new scientific and quantitative techniques were developed to assist
u u u u u u u u u u u u u
the military, and these developments were so successful that many companies started using similar
u u u u u u u u u u u u u u
techniques in managerial decision making and planning after the war.
u u u u u u u u u u
Answer: TRUE u
Diff: Moderate
u u u
Topic: WHAT IS QUANTITATIVE ANALYSIS?
u u u u u
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
u u u u u u u u u u u u u u u
situation.
u
AACSB: Analytical thinking u u
Classification: Concept
u u
2
Copyright © 2024 Pearson Education, Inc.
,5) The study of Business Analytics involves the use of large datasets known as big data.
u u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: BUSINESS ANALYTICS
u u u
LO: 1.2: Describe the three categories of business analytics.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
u u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: BUSINESS ANALYTICS
u u u
LO: 1.2: Describe the three categories of business analytics.
u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
u u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
8) The Quantitative Analysis Approach consists of six steps.
u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
9) A schematic model is a picture, drawing, or chart of reality.
u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
10) Decision variables may also be called parameters.
u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
3
Copyright © 2024 Pearson Education, Inc.
, 11) Model variables can be controllable or uncontrollable.
u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
12) A series of steps or procedures that are repeated is known as an algorithm.
u u u u u u u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
13) A model is a representation of a situation.
u u u u u u u
Answer: TRUE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
14) A parameter is a measurable quantity that may vary or is subject to change.
u u u u u u u u u u u u u
Answer: FALSE
u u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
15) Trying various approaches and picking the one resulting in the best decision is called
u u u u u u u u u u u u u
incomplete enumeration.
u u
Answer: FALSE u
Diff: Moderate
u u
Topic: THE QUANTITATIVE ANALYSIS APPROACH
u u u u u
LO: 1.3: Describe the use of modeling in quantitative analysis.
u u u u u u u u u
AACSB: Analytical thinking
u u u
Classification: Concept u u
4
Copyright © 2024 Pearson Education, Inc.
