Copyright Cengage Learning. Powered by Cognero. Page 1
,TEST BANK FOR t t
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th
t t t t t t t t t t t
Edition Cliff Ragsdale Chapter 1-15
t t t t t
Answers are at the end of each chapter t t t t t t t
chapter 1 t
Indicate whether the statement is true or false.
t t t t t t t
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible to do
t t t t t t t t t t t t t t t t t
in reality.
t t
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-use electronic spreadsheets have made the tools of
t t t t t t t t t t t t t t t t
business analytics far more practical and available to a much larger audience.
t t t t t t t t t t t t
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
t t t t t t t t t t t t t t
a. True
b. False
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical equation and the
t t t t t t t t t t t t t t t
spreadsheet.
t
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
t t t t t t t t t t t t t
a. True
b. False
6. Good decisions always result in good outcomes.
t t t t t t
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
t t t t t t t t t t t
a. True
b. False
8. OR/MS specialists do not deliver business value.
t t t t t t
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
t t t t t t t t t t t t
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,9. Identifying the real problems faced by the decision maker
t t t t t t t t
a. is not important since the decision maker has already defined the problem.
t t t t t t t t t t t
b. requires insight, some imagination, time and a good bit of detective work.
t t t t t t t t t t t
c. first requires a well-defined problem statement.
t t t t t
d. will lead to developing the best model.
t t t t t t
10. Business opportunities can be viewed and formulated as
t t t t t t t
a. decision problems. t
b. analytical models. t
c. empirical models. t
d. testing tools. t
11. In a spreadsheet, input cells correspond conceptually to
t t t t t t t
a. dependent variables. t
b. functions.
c. independent variables. t
d. output cells. t
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the decision
t t t t t t t t t t t t t t t t t
maker?
t
a. Descriptive models t
b. Predictive models t
c. Prescriptive models t
d. Preventive models t
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
t t t t t t t t t t t t t t t t
a. luck.
b. intuition.
c. certainty.
d. predictability.
14. In a model Y=f(x1, x2), Y is called:
t t t t t t t
a. a dependent variable.
t t
b. an independent variable.
t t
c. a confounded variable.
t t
d. a convoluted variable.
t t
15. Which of the following is the type of model used throughout this textbook?
t t t t t t t t t t t t
a. Mathematical model t
b. Mental model t
c. Physical model t
d. Visual model t
16. The essence of decision analysis is:
t t t t t
Copyright Cengage Learning. Powered by Cognero. Page 3
, a. breaking down complex situations into manageable elements. t t t t t t
b. choosing the best course of action among alternatives. t t t t t t t
c. finding the root cause of why something has gone wrong.
t t t t t t t t t
d. thinking ahead to avoid negative consequences. t t t t t
17. A road map is an example of
t t t t t t
a. a mathematical model.
t t
b. a mental model.
t t
c. a physical model.
t t
d. a visual model.
t t
18. The mathematical modeling approaches presented in the textbook
t t t t t t t
a. are a subset of the total problem-solving process.
t t t t t t t
b. cover the entire spectrum of decision support approaches.
t t t t t t t
c. are exhaustive. t
d. are complementary. t
19. Operations Research got its start t t t t
a. during World War II. t t t
b. with the first Univac computers in the early 1950's.
t t t t t t t t
c. from roots in Operations Management.
t t t t
d. from Frederick Taylor's Scientific Management.
t t t t
20. Anchoring occurs when: t t
a. a trivial factor is used as a starting point for estimations in a decision-making problem.
t t t t t t t t t t t t t t
b. a difficult factor is incorporated in a problem.
t t t t t t t
c. an easy solution is obtained to a difficult problem.
t t t t t t t t
d. obtaining a solution is trivial. t t t t
21. Two of the effects associated with decision problems are:
t t t t t t t t
a. anchoring and framing. t t
b. anchoring and loading. t t
c. framing and complacency. t t
d. anchoring and luck t t
22. In the textbook the words "opportunity" and "problem" are
t t t t t t t t
a. disjoint.
b. used interchangeably. t
c. mutually exclusive. t
d. complementary.
23. A valid model:
t t
a. accurately represents a decision problem being studied. t t t t t t
b. produces an optimal solution. t t t
Copyright Cengage Learning. Powered by Cognero. Page 4
,TEST BANK FOR t t
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics 9th
t t t t t t t t t t t
Edition Cliff Ragsdale Chapter 1-15
t t t t t
Answers are at the end of each chapter t t t t t t t
chapter 1 t
Indicate whether the statement is true or false.
t t t t t t t
1. Because they simplify reality, models are generally not helpful in examining things that would be impossible to do
t t t t t t t t t t t t t t t t t
in reality.
t t
a. True
b. False
2. The proliferation of powerful PCs and the development of easy-to-use electronic spreadsheets have made the tools of
t t t t t t t t t t t t t t t t
business analytics far more practical and available to a much larger audience.
t t t t t t t t t t t t
a. True
b. False
3. A mathematical model uses mathematical relationships to describe or represent an object or decision problem.
t t t t t t t t t t t t t t
a. True
b. False
4. In spreadsheet modeling of a problem, there is no direct correspondence between mathematical equation and the
t t t t t t t t t t t t t t t
spreadsheet.
t
a. True
b. False
5. Humans usually do not make errors in estimation due to anchoring and framing effects.
t t t t t t t t t t t t t
a. True
b. False
6. Good decisions always result in good outcomes.
t t t t t t
a. True
b. False
7. Defining a problem well will often make it much easier to solve.
t t t t t t t t t t t
a. True
b. False
8. OR/MS specialists do not deliver business value.
t t t t t t
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.
t t t t t t t t t t t t
Copyright Cengage Learning. Powered by Cognero. Page 2
,9. Identifying the real problems faced by the decision maker
t t t t t t t t
a. is not important since the decision maker has already defined the problem.
t t t t t t t t t t t
b. requires insight, some imagination, time and a good bit of detective work.
t t t t t t t t t t t
c. first requires a well-defined problem statement.
t t t t t
d. will lead to developing the best model.
t t t t t t
10. Business opportunities can be viewed and formulated as
t t t t t t t
a. decision problems. t
b. analytical models. t
c. empirical models. t
d. testing tools. t
11. In a spreadsheet, input cells correspond conceptually to
t t t t t t t
a. dependent variables. t
b. functions.
c. independent variables. t
d. output cells. t
12. Solutions to which of the following categories of modeling techniques indicate a course of action to the decision
t t t t t t t t t t t t t t t t t
maker?
t
a. Descriptive models t
b. Predictive models t
c. Prescriptive models t
d. Preventive models t
13. A factor that plays a role in determining whether a good or bad outcome occurs is called
t t t t t t t t t t t t t t t t
a. luck.
b. intuition.
c. certainty.
d. predictability.
14. In a model Y=f(x1, x2), Y is called:
t t t t t t t
a. a dependent variable.
t t
b. an independent variable.
t t
c. a confounded variable.
t t
d. a convoluted variable.
t t
15. Which of the following is the type of model used throughout this textbook?
t t t t t t t t t t t t
a. Mathematical model t
b. Mental model t
c. Physical model t
d. Visual model t
16. The essence of decision analysis is:
t t t t t
Copyright Cengage Learning. Powered by Cognero. Page 3
, a. breaking down complex situations into manageable elements. t t t t t t
b. choosing the best course of action among alternatives. t t t t t t t
c. finding the root cause of why something has gone wrong.
t t t t t t t t t
d. thinking ahead to avoid negative consequences. t t t t t
17. A road map is an example of
t t t t t t
a. a mathematical model.
t t
b. a mental model.
t t
c. a physical model.
t t
d. a visual model.
t t
18. The mathematical modeling approaches presented in the textbook
t t t t t t t
a. are a subset of the total problem-solving process.
t t t t t t t
b. cover the entire spectrum of decision support approaches.
t t t t t t t
c. are exhaustive. t
d. are complementary. t
19. Operations Research got its start t t t t
a. during World War II. t t t
b. with the first Univac computers in the early 1950's.
t t t t t t t t
c. from roots in Operations Management.
t t t t
d. from Frederick Taylor's Scientific Management.
t t t t
20. Anchoring occurs when: t t
a. a trivial factor is used as a starting point for estimations in a decision-making problem.
t t t t t t t t t t t t t t
b. a difficult factor is incorporated in a problem.
t t t t t t t
c. an easy solution is obtained to a difficult problem.
t t t t t t t t
d. obtaining a solution is trivial. t t t t
21. Two of the effects associated with decision problems are:
t t t t t t t t
a. anchoring and framing. t t
b. anchoring and loading. t t
c. framing and complacency. t t
d. anchoring and luck t t
22. In the textbook the words "opportunity" and "problem" are
t t t t t t t t
a. disjoint.
b. used interchangeably. t
c. mutually exclusive. t
d. complementary.
23. A valid model:
t t
a. accurately represents a decision problem being studied. t t t t t t
b. produces an optimal solution. t t t
Copyright Cengage Learning. Powered by Cognero. Page 4
