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