Exam (elaborations)
An Introduction to Management Science Quantitative Approaches To Decision Making Test Bank
- Course
- Institution
An Introduction to Management Science Quantitative Approaches To Decision Making Test Bank
[Show more]
1 review
By: hgihomesllc • 2 months ago
Content preview
,CH 01 - IntroductionTrue / False
1. The process of decision making is more limited than that of problem solving.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Understand
2. The breakeven point is the point at which the volume of output produced is the result of total revenue equaling total
cost.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.04 - 1.4
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.4 Models of Cost, Revenue, and Profit
KEYWORDS: Bloom's: Understand
3. Problem solving encompasses both the identification of a problem and the action to resolve it.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Remember
4. The decision-making process includes implementation and subsequent evaluation of the decision.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
© Cengage. Testing Powered by Cognero. Page 1
,CH 01 - Introduction
KEYWORDS: Bloom's: Understand
5. Most successful quantitative analysis models will advise separating the management analyst from the managerial team
until after the problem has been fully structured.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand
6. The value of making a decision based on models is dependent on how closely the model represents the real situation.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand
7. Uncontrollable inputs are the decision variables for a model.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Remember
8. The feasible solution is the best solution possible for a mathematical model.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
© Cengage. Testing Powered by Cognero. Page 2
, CH 01 - Introduction
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Understand
9. Frederic W. Taylor is credited with providing the foundation for quantitative methodology in the early part of the 20th
century.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Remember
10. To identify the choice that provides the highest profit and also uses the fewest employees, we apply a single-criterion
decision process.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
LEARNING OBJECTIVES: IMS.ASWC.19.01.01 - 1.1
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.1 Problem Solving and Decision Making
KEYWORDS: Bloom's: Understand
11. The most critical component in determining the success or failure of any quantitative approach to decision making is
problem definition.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: IMS.ASWC.19.01.03 - 1.3
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
TOPICS: 1.3 Quantitative Analysis
KEYWORDS: Bloom's: Remember
12. The first step in the decision-making process is to identify the problem.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
© Cengage. Testing Powered by Cognero. Page 3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Succeed. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $26.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
63950 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now
Recently viewed by you
Package deal ·
TEST BANK For Understanding Business 8TH,13TH, 17TH EDITIONS|| BUNDLED TESTBANK PACKAGE DEAL!!!
Exam (elaborations) ·
NUR 2488 Final Exam Questions With Verified Answers 2023/2024 | Latest Graded A+ (Mental Health)
Exam (elaborations) ·
TEST BANK FOR MICROBIOLOGY A SYSTEMS APPROACH 6TH EDITION MARJORIE KELLY COWAN HEIDI SMITH
Exam (elaborations) ·
MICR 3230 immunology final exam key questions and answers to consider University of Guelph
Summary ·
ALLE literatuur voor Tentamen Psychological & Neurobiological Consequences of Child Abuse
Exam (elaborations) ·
TEST BANK Health Promotion throughout the Life Span 8th Edition by Carole Lium Edelman Updated A+
Package deal ·
COMPLETE REVISION GUIDE EDEXCEL A LEVEL POLITICS (SOCIALISM, CONSERVATISM, LIBERALISM) 20 DOCUMENTS
Exam (elaborations) ·
NUR 634 FINAL EXAM 2023/NUR-634 PHYSICAL ASSESSMENT FINAL 100 QUESTIONS AND CORRECT ANSWERS|AGRADE
