1
Copyright © 2024 Pearson Education, Inc.
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,TEST BANK FOR ff ff
Quantitative Analysis for Management, 14th edition Render ff ff ff ff ff ff
Chapter 1-15 ff
Chapter 1 Introduction to Quantitative Analysis
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1.1 f f f f True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative
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analysis models.
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Answer: TRUE f f
Diff: Moderate
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Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
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Classification: Concept f f f f
2) In the early1900s, Frederick Winslow Taylor pioneered the principles of the scientific approach to
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management.
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Answer: TRUE f f
Diff: Moderate
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Topic: WHAT IS QUANTITATIVE ANALYSIS?
f f f f ff ff ff
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
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situation.
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AACSB: Analytical thinking f f ff
Classification: Concept
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3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
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applicability of the quantitative analysis technique to use it for accurate decision making.
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Answer: FALSE
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Diff: Moderate f f f f
Topic: INTRODUCTION f f f f
LO: 1.6: Recognize possible problems in using quantitative analysis.
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AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
4) During World War II, many new scientific and quantitative techniques were developed to assist the
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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.
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Answer: TRUE f f
Diff: Moderate
ff f f f f
Topic: WHAT IS QUANTITATIVE ANALYSIS?
f f f f ff ff ff
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
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situation.
ff
AACSB: Analytical thinking f f ff
Classification: Concept
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2
Copyright © 2024 Pearson Education, Inc.
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,5) The study of Business Analytics involves the use of large datasets known as big data.
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Answer: TRUE
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Diff: Moderatef f f f
Topic: BUSINESS ANALYTICSf f f f ff
LO: 1.2: Describe the three categories of business analytics.
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AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
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Answer: TRUE
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Diff: Moderatef f f f
Topic: BUSINESS ANALYTICSf f f f ff
LO: 1.2: Describe the three categories of business analytics.
f f ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
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Answer: FALSE
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Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
8) The Quantitative Analysis Approach consists of six steps.
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Answer: FALSE
ff f f
Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
9) A schematic model is a picture, drawing, or chart of reality.
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Answer: TRUE
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Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
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LO: 1.3: Describe the use of modeling in quantitative analysis.
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AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
10) Decision variables may also be called parameters. ff ff ff ff ff ff
Answer: FALSE
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Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
3
Copyright © 2024 Pearson Education, Inc.
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, 11) Model variables can be controllable or uncontrollable.
ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
12) A series of steps or procedures that are repeated is known as an algorithm.
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Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
13) A model is a representation of a situation.
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Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
14) A parameter is a measurable quantity that may vary or is subject to change.
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Answer: FALSE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
15) Trying various approaches and picking the one resulting in the best decision is called
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incomplete enumeration.
ff ff
Answer: FALSE f f
Diff: Moderate
ff f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
4
Copyright © 2024 Pearson Education, Inc.
ff ff ff ff ff
Copyright © 2024 Pearson Education, Inc.
ff ff ff ff ff
,TEST BANK FOR ff ff
Quantitative Analysis for Management, 14th edition Render ff ff ff ff ff ff
Chapter 1-15 ff
Chapter 1 Introduction to Quantitative Analysis
ff ff ff ff
1.1 f f f f True/False
1) Interviews, statistical sampling, and company reports provide input data for quantitative
ff ff ff ff ff ff ff ff ff ff
analysis models.
ff ff
Answer: TRUE f f
Diff: Moderate
ff f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
2) In the early1900s, Frederick Winslow Taylor pioneered the principles of the scientific approach to
f f f f f f f ff f ff f f f ff
management.
ff
Answer: TRUE f f
Diff: Moderate
ff f f f f
Topic: WHAT IS QUANTITATIVE ANALYSIS?
f f f f ff ff ff
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
f f ff ff ff ff ff ff ff ff ff ff ff ff ff ff
situation.
ff
AACSB: Analytical thinking f f ff
Classification: Concept
ff f f
3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
ff ff ff ff ff ff ff ff ff ff ff ff
applicability of the quantitative analysis technique to use it for accurate decision making.
ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: FALSE
ff f f
Diff: Moderate f f f f
Topic: INTRODUCTION f f f f
LO: 1.6: Recognize possible problems in using quantitative analysis.
f f ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
4) During World War II, many new scientific and quantitative techniques were developed to assist the
ff ff ff ff ff ff ff ff ff ff ff ff ff ff
military, and these developments were so successful that many companies started using similar
ff ff ff ff ff ff ff ff ff f ff ff f
techniques in managerial decision making and planning after the war.
ff ff ff ff ff ff ff ff ff ff
Answer: TRUE f f
Diff: Moderate
ff f f f f
Topic: WHAT IS QUANTITATIVE ANALYSIS?
f f f f ff ff ff
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
f f ff ff ff ff ff ff ff ff ff ff ff ff ff ff
situation.
ff
AACSB: Analytical thinking f f ff
Classification: Concept
ff f f
2
Copyright © 2024 Pearson Education, Inc.
ff ff ff ff ff
,5) The study of Business Analytics involves the use of large datasets known as big data.
ff ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderatef f f f
Topic: BUSINESS ANALYTICSf f f f ff
LO: 1.2: Describe the three categories of business analytics.
f f ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
6) Predictive Analytics is aimed at forecasting future outcomes based on patterns in the past data.
ff ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderatef f f f
Topic: BUSINESS ANALYTICSf f f f ff
LO: 1.2: Describe the three categories of business analytics.
f f ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
ff ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: FALSE
ff f f
Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
8) The Quantitative Analysis Approach consists of six steps.
ff ff ff ff ff ff ff
Answer: FALSE
ff f f
Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
9) A schematic model is a picture, drawing, or chart of reality.
ff ff ff ff ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
10) Decision variables may also be called parameters. ff ff ff ff ff ff
Answer: FALSE
ff f f
Diff: Moderatef f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
3
Copyright © 2024 Pearson Education, Inc.
ff ff ff ff ff
, 11) Model variables can be controllable or uncontrollable.
ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
12) A series of steps or procedures that are repeated is known as an algorithm.
ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
13) A model is a representation of a situation.
ff ff ff ff ff ff ff
Answer: TRUE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
14) A parameter is a measurable quantity that may vary or is subject to change.
ff ff ff ff ff ff ff ff ff ff ff ff ff
Answer: FALSE
ff f f
Diff: Moderate
f f f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
15) Trying various approaches and picking the one resulting in the best decision is called
ff ff ff ff ff ff ff ff ff ff ff ff ff
incomplete enumeration.
ff ff
Answer: FALSE f f
Diff: Moderate
ff f f
Topic: THE QUANTITATIVE ANALYSIS APPROACH
f f f f ff ff ff
LO: 1.3: Describe the use of modeling in quantitative analysis.
f f ff ff ff ff ff ff ff ff
AACSB: Analytical thinking
ff f f ff
Classification: Concept f f f f
4
Copyright © 2024 Pearson Education, Inc.
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