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Test Bank With Solutions Manual for Quantitative Analysis for Management 13th Edition By Barry Render, Ralph Stair, Michael Hanna, Trevor Hale (All Chapters, 100% Original Verified, A+ Grade)

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Quantitative Analysis for Management 13th

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Quantitative Analysis For Management 13th

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Test Bank With Solutions
Manual For
Quantitative Analysis for
Management 13e Barry
Render, Ralph Stair,
Michael Hanna, Trevor
Hale (All Chapters, 100%
Original Veriﬁed, A+ Grade)

Part 1: Test bank: Pages 1-993
Part 2: Solutions Manual: pages 994-1534

, Part 1: Test bank

Quantitative Analysis for Management 13e Barry Render, Ralph Stair, Michael
Hanna, Trevor Hale (Test Bank All Chapters, 100% Original Verified, A+ Grade)
Quantitative Analysis for Management, 13e (Render et al.)
Chapter 1 Introduction to Quantitative Analysis

1) Interviews, statistical sampling, and company reports provide input data for quantitative
analysis models.
Answer: TRUE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

2) In the early 1900s, Henry Ford pioneered the principles of the scientific approach to
management.
Answer: FALSE
Diff: Moderate
Topic: WHAT IS QUANTITATIVE ANALYSIS?
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
situation.
AACSB: Analytical thinking
Classification: Concept

3) Managers do not need to be familiar with the limitations, assumptions, and/or specific
applicability of the quantitative analysis technique to use it for accurate decision making.
Answer: FALSE
Diff: Moderate
Topic: INTRODUCTION
LO: 1.6: Recognize possible problems in using quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

4) During World War II, many new scientific and quantitative techniques were developed to
assist the military, and these developments were so successful that many companies started using
similar techniques in managerial decision making and planning after the war.
Answer: TRUE
Diff: Moderate
Topic: WHAT IS QUANTITATIVE ANALYSIS?
LO: 1.1: Describe the quantitative analysis approach and understand how to apply it to a real
situation.
AACSB: Analytical thinking
Classification: Concept

1
Copyright © 2018 Pearson Education, Inc.

,5) Business Analytics is a data-driven approach to decision making that allows companies to
make better decisions.
Answer: TRUE
Diff: Moderate
Topic: BUSINESS ANALYTICS
LO: 1.2: Describe the three categories of business analytics.
AACSB: Analytical thinking
Classification: Concept

6) Descriptive Analytics is aimed at forecasting future outcomes based on patterns in the past
data.
Answer: FALSE
Diff: Moderate
Topic: BUSINESS ANALYTICS
LO: 1.2: Describe the three categories of business analytics.
AACSB: Analytical thinking
Classification: Concept

7) When a problem is difficult to quantify, it may be necessary to develop unspecific objectives.
Answer: FALSE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

8) The Quantitative Analysis Approach consists of six steps.
Answer: FALSE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

9) A mathematical model shows the relationship between quantifiable and non-quantifiable
information.
Answer: FALSE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

2
Copyright © 2018 Pearson Education, Inc.

, 10) Decision variables may also be called parameters.
Answer: FALSE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

11) Model variables can be controllable or uncontrollable.
Answer: TRUE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

12) A series of steps or procedures that are repeated is known as an algorithm.
Answer: TRUE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

13) A model is a representation of a situation.
Answer: TRUE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

14) A parameter is a measurable quantity that may vary or is subject to change.
Answer: FALSE
Diff: Moderate
Topic: THE QUANTITATIVE ANALYSIS APPROACH
LO: 1.3: Describe the use of modeling in quantitative analysis.
AACSB: Analytical thinking
Classification: Concept

3
Copyright © 2018 Pearson Education, Inc.

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Test Bank With Solutions Manual for Quantitative Analysis for Management 13th Edition By Barry Render, Ralph Stair, Michael Hanna, Trevor Hale (All Chapters, 100% Original Verified, A+ Grade)

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