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

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, Test Bank For An Introduction to Management
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Science- Quantitative Approach, 15th Edition by
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Anderson
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True / False
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1. The process of decision making is more limited than that of problem solving.
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a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
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NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
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TOPICS: 1.1 Problem Solving and Decision Making ff ff ff ff ff




KEYWORDS: Bloom's: Understand ff




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




KEYWORDS: Bloom's: Understand ff




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




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



KEYWORDS: Bloom's: Understand ff




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




KEYWORDS: Bloom's: Understand ff




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



KEYWORDS: Bloom's: Understand ff




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

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